Ibex Wealth Advisors increased its holdings in shares of Kimco Realty Corporation (NYSE:KIM – Free Report) by 17.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 403,598 shares of the real estate investment trust’s stock after buying an additional 61,048 shares during the quarter. Ibex Wealth Advisors’ holdings in Kimco Realty were worth $9,069,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KIM. Zions Bancorporation National Association UT lifted its stake in Kimco Realty by 270.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 1,049 shares in the last quarter. Brown Lisle Cummings Inc. increased its position in shares of Kimco Realty by 127.3% during the fourth quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 840 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of Kimco Realty by 60.7% during the first quarter. Root Financial Partners LLC now owns 1,446 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 546 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Kimco Realty during the second quarter worth $37,000. Finally, MUFG Securities EMEA plc bought a new stake in Kimco Realty in the 2nd quarter valued at $42,000. 89.25% of the stock is owned by institutional investors and hedge funds.
Kimco Realty Stock Down 0.2%
Shares of KIM stock opened at $24.93 on Friday. Kimco Realty Corporation has a 52-week low of $19.76 and a 52-week high of $26.08. The stock has a market cap of $16.81 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.75 and a beta of 0.95. The firm’s 50-day moving average is $24.43 and its 200-day moving average is $22.95. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.78 and a current ratio of 3.78.
Kimco Realty Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were paid a $0.26 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.04 annualized dividend and a yield of 4.2%. Kimco Realty’s payout ratio is 120.93%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on KIM. Raymond James Financial restated a “strong-buy” rating and issued a $29.00 price target on shares of Kimco Realty in a report on Monday, June 29th. Truist Financial increased their price objective on Kimco Realty from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, May 28th. Wolfe Research raised Kimco Realty from a “peer perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research report on Monday, June 22nd. Weiss Ratings upgraded Kimco Realty from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Barclays upped their price target on Kimco Realty from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.88.
About Kimco Realty
Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.
Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.
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