KLP Kapitalforvaltning AS Sells 67,000 Shares of Kimco Realty Corporation $KIM

Key Points

• KLP Kapitalforvaltning AS sold 67,000 shares of Kimco Realty, a 10.7% reduction that left it with 560,400 shares valued at about $11.36 million at quarter-end.
• Several analysts have recently raised targets and the stock holds a consensus rating of "Moderate Buy" with a consensus target price of $24.73.
• Kimco pays a quarterly dividend of $0.26 (annualized $1.04) equating to a 4.4% yield128.4%.

KLP Kapitalforvaltning AS lowered its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 560,400 shares of the real estate investment trust's stock after selling 67,000 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.08% of Kimco Realty worth $11,359,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC bought a new position in Kimco Realty during the third quarter worth $27,000. City Holding Co. bought a new position in Kimco Realty during the third quarter worth $30,000. Brown Lisle Cummings Inc. increased its position in 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 during the period. CYBER HORNET ETFs LLC bought a new position in Kimco Realty during the second quarter worth $37,000. Finally, MUFG Securities EMEA plc bought a new position in Kimco Realty during the second quarter worth $42,000. Institutional investors own 89.25% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on KIM shares. Truist Financial boosted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Monday, March 23rd. JPMorgan Chase & Co. boosted their target price on shares of Kimco Realty from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. Scotiabank boosted their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 24th. Wells Fargo & Company boosted their target price on shares of Kimco Realty from $21.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 19th. Finally, Evercore set a $24.00 target price on shares of Kimco Realty in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $24.73.

Kimco Realty Trading Up 1.2%

Shares of Kimco Realty stock opened at $23.85 on Friday. The firm has a market capitalization of $16.08 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.31. The company's fifty day moving average price is $23.07 and its two-hundred day moving average price is $21.59. Kimco Realty Corporation has a 52-week low of $19.59 and a 52-week high of $24.31.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Friday, March 6th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Friday, March 6th. Kimco Realty's payout ratio is 128.40%.

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.