10,237 Shares in Kimco Realty Corp (NYSE:KIM) Purchased by Commerce Bank

Posted by Defense World Staff on Aug 11th, 2023

Commerce Bank bought a new position in shares of Kimco Realty Corp (NYSE:KIM – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,237 shares of the real estate investment trust’s stock, valued at approximately $200,000.

Other large investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in Kimco Realty by 0.9% during the fourth quarter. HighTower Advisors LLC now owns 180,819 shares of the real estate investment trust’s stock worth $3,825,000 after buying an additional 1,600 shares during the period. State of New Jersey Common Pension Fund D lifted its position in Kimco Realty by 1.6% during the first quarter. State of New Jersey Common Pension Fund D now owns 1,263,082 shares of the real estate investment trust’s stock worth $24,668,000 after buying an additional 20,000 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Kimco Realty by 9.6% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 742,514 shares of the real estate investment trust’s stock worth $15,771,000 after buying an additional 65,144 shares during the period. Y.D. More Investments Ltd purchased a new position in shares of Kimco Realty in the 4th quarter worth about $86,000. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Kimco Realty by 1.4% in the 4th quarter. Treasurer of the State of North Carolina now owns 270,885 shares of the real estate investment trust’s stock worth $5,737,000 after purchasing an additional 3,740 shares during the period. 89.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KIM. StockNews.com began coverage on Kimco Realty in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Mizuho raised their price objective on Kimco Realty from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 20th. Wells Fargo & Company began coverage on Kimco Realty in a report on Tuesday, May 23rd. They issued an “underweight” rating and a $19.00 price objective on the stock. Compass Point raised their price objective on Kimco Realty from $20.00 to $22.00 in a report on Friday, July 28th. Finally, Argus dropped their target price on Kimco Realty from $27.00 to $22.00 in a report on Monday, May 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kimco Realty presently has an average rating of “Hold” and an average target price of $22.62.

View Our Latest Stock Analysis on Kimco Realty

Kimco Realty Price Performance

Shares of NYSE KIM opened at $20.36 on Friday. Kimco Realty Corp has a fifty-two week low of $17.34 and a fifty-two week high of $23.89. The business has a 50 day moving average price of $19.83 and a two-hundred day moving average price of $19.68. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.73. The firm has a market cap of $12.62 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 1.77 and a beta of 1.45.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, September 7th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.92 dividend on an annualized basis and a yield of 4.52%. Kimco Realty’s dividend payout ratio (DPR) is presently 150.82%.

Kimco Realty Company Profile

(Free Report)

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.