40,472 Shares in Kimco Realty Corp (KIM) Acquired by ING Groep NV
ING Groep NV acquired a new position in Kimco Realty Corp (NYSE:KIM) during the 4th quarter, Holdings Channel reports. The fund acquired 40,472 shares of the real estate investment trust’s stock, valued at approximately $735,000.
A number of other hedge funds have also bought and sold shares of KIM. American Century Companies Inc. purchased a new position in Kimco Realty in the third quarter worth $44,360,000. Hamlin Capital Management LLC boosted its position in Kimco Realty by 38.9% in the third quarter. Hamlin Capital Management LLC now owns 4,330,610 shares of the real estate investment trust’s stock worth $84,663,000 after purchasing an additional 1,212,542 shares during the last quarter. Private Management Group Inc. bought a new stake in shares of Kimco Realty in the third quarter valued at $21,318,000. Third Avenue Management LLC bought a new stake in shares of Kimco Realty in the third quarter valued at $21,120,000. Finally, Coronation Fund Managers Ltd. raised its stake in shares of Kimco Realty by 354.5% in the fourth quarter. Coronation Fund Managers Ltd. now owns 1,159,223 shares of the real estate investment trust’s stock valued at $21,040,000 after buying an additional 904,171 shares during the period. 91.37% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Milton Cooper acquired 50,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was purchased at an average cost of $19.20 per share, for a total transaction of $960,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.90% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Tuesday, April 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.85%. The ex-dividend date is Monday, April 2nd. Kimco Realty’s payout ratio is currently 130.23%.
Several analysts have issued reports on the company. ValuEngine lowered Kimco Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays lowered their target price on Kimco Realty from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. SunTrust Banks set a $18.00 target price on Kimco Realty and gave the company a “hold” rating in a research note on Monday, January 22nd. Stifel Nicolaus reiterated a “hold” rating and set a $17.00 price objective on shares of Kimco Realty in a research note on Thursday, February 1st. Finally, Mizuho set a $20.00 price objective on Kimco Realty and gave the company a “hold” rating in a research note on Monday, December 18th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.34.
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Kimco Realty Profile
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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