Cbre Investment Management Listed Real Assets LLC Invests $4.51 Million in Kimco Realty Corporation $KIM

Key Points

• CBRE Investment Management Listed Real Assets LLC bought a new stake of 206,448 Kimco shares in Q3, valued at about $4.51 million, and institutional investors now own roughly 89.25% of the stock.
• Kimco announced a quarterly dividend of $0.26 per share (annualized $1.04), implying a 4.5% yield while the dividend payout ratio is high at 128.4%.
• Analysts are mixed but mildly positive: the consensus rating is a “Moderate Buy” with an average price target of $24.23, while individual targets range from $22 to $25.

Cbre Investment Management Listed Real Assets LLC acquired a new stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 206,448 shares of the real estate investment trust's stock, valued at approximately $4,511,000.

A number of other hedge funds also recently made changes to their positions in the stock. Values First Advisors Inc. raised its stake in Kimco Realty by 1.7% during the 3rd quarter. Values First Advisors Inc. now owns 27,590 shares of the real estate investment trust's stock worth $603,000 after acquiring an additional 450 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Kimco Realty by 1.7% in the third quarter. Quadrant Capital Group LLC now owns 30,335 shares of the real estate investment trust's stock worth $663,000 after purchasing an additional 503 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Kimco Realty by 11.2% during the 3rd quarter. Parallel Advisors LLC now owns 5,176 shares of the real estate investment trust's stock valued at $113,000 after purchasing an additional 520 shares during the period. Bleakley Financial Group LLC raised its position in shares of Kimco Realty by 5.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 12,421 shares of the real estate investment trust's stock valued at $271,000 after purchasing an additional 589 shares during the period. Finally, Jump Financial LLC lifted its stake in shares of Kimco Realty by 5.1% during the 2nd quarter. Jump Financial LLC now owns 12,932 shares of the real estate investment trust's stock valued at $272,000 after buying an additional 633 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Stock Performance

Shares of NYSE KIM opened at $23.18 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31. The company has a market cap of $15.62 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.30 and a beta of 1.04. The firm's fifty day moving average is $21.82 and its two-hundred day moving average is $21.40. Kimco Realty Corporation has a 52-week low of $17.93 and a 52-week high of $23.91.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Friday, March 6th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.5%. Kimco Realty's dividend payout ratio (DPR) is presently 128.40%.

Analyst Ratings Changes

Several research analysts recently weighed in on KIM shares. Truist Financial dropped their target price on shares of Kimco Realty from $23.00 to $22.00 and set a "hold" rating for the company in a report on Tuesday, January 20th. Morgan Stanley set a $23.50 price objective on Kimco Realty in a research report on Monday, January 5th. Wall Street Zen raised Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Robert W. Baird set a $25.00 target price on Kimco Realty in a research note on Friday, February 13th. Finally, Barclays reissued an "overweight" rating and issued a $25.00 price target on shares of Kimco Realty in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.23.

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.

Want to see what other hedge funds are holding KIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimco Realty Corporation (NYSE:KIM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.