Van ECK Associates Corp Has $5.47 Million Stake in Kimco Realty Corp (NYSE:KIM)

Van ECK Associates Corp increased its stake in Kimco Realty Corp (NYSE:KIM) by 11.1% in the first quarter, Holdings Channel.com reports. The firm owned 278,873 shares of the real estate investment trust’s stock after purchasing an additional 27,905 shares during the quarter. Van ECK Associates Corp’s holdings in Kimco Realty were worth $5,469,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in Kimco Realty by 78.9% in the 4th quarter. SG Americas Securities LLC now owns 206,745 shares of the real estate investment trust’s stock valued at $4,406,000 after acquiring an additional 91,161 shares in the last quarter. Analyst IMS Investment Management Services Ltd. boosted its holdings in Kimco Realty by 157.1% during the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 167,422 shares of the real estate investment trust’s stock worth $3,568,000 after purchasing an additional 102,300 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in Kimco Realty by 2.9% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 342,244 shares of the real estate investment trust’s stock valued at $7,293,000 after purchasing an additional 9,500 shares in the last quarter. Evoke Wealth LLC acquired a new stake in Kimco Realty in the 4th quarter valued at $4,181,000. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in Kimco Realty during the 4th quarter worth about $8,217,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Stock Performance

KIM stock traded up $0.05 during mid-day trading on Friday, hitting $19.32. 1,091,548 shares of the company were exchanged, compared to its average volume of 4,923,915. Kimco Realty Corp has a 1-year low of $16.34 and a 1-year high of $22.83. The business has a 50 day simple moving average of $18.92 and a 200-day simple moving average of $19.49. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $13.02 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 3.73 and a beta of 1.51.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date was Thursday, June 6th. Kimco Realty’s dividend payout ratio is 181.14%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Mizuho lowered their target price on Kimco Realty from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Robert W. Baird lowered their price target on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. Citigroup reaffirmed a “neutral” rating and set a $20.00 price target (down from $26.00) on shares of Kimco Realty in a research report on Friday, March 22nd. Bank of America reissued a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Finally, Truist Financial dropped their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Monday, May 20th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.52.

About Kimco Realty

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.