Korea Investment CORP Cuts Position in Kimco Realty Corporation $KIM

Key Points

• Korea Investment CORP cut its stake in Kimco Realty by 53.3% in Q3, selling 249,398 shares and leaving 218,582 shares valued at about $4.78 million.
• Other institutions increased exposure — Barclays boosted holdings by 113% to 3,185,904 shares and Dimensional Fund Advisors holds over 10 million shares, with institutional ownership at 89.25%.
• Kimco declared a quarterly dividend of $0.26 (annualized $1.04) for a 4.5% yield128.4%.

Korea Investment CORP trimmed its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 53.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,582 shares of the real estate investment trust's stock after selling 249,398 shares during the period. Korea Investment CORP's holdings in Kimco Realty were worth $4,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. First Trust Advisors LP lifted its stake in Kimco Realty by 27.5% during the 3rd quarter. First Trust Advisors LP now owns 704,576 shares of the real estate investment trust's stock worth $15,395,000 after acquiring an additional 152,147 shares in the last quarter. Barclays PLC boosted its holdings in Kimco Realty by 113.0% during the 3rd quarter. Barclays PLC now owns 3,185,904 shares of the real estate investment trust's stock valued at $69,612,000 after acquiring an additional 1,690,137 shares during the period. Dimensional Fund Advisors LP grew its position in Kimco Realty by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,075,563 shares of the real estate investment trust's stock valued at $220,147,000 after acquiring an additional 51,079 shares in the last quarter. Great Lakes Retirement Inc. grew its position in Kimco Realty by 10.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 157,527 shares of the real estate investment trust's stock valued at $3,442,000 after acquiring an additional 14,898 shares in the last quarter. Finally, Journey Strategic Wealth LLC purchased a new stake in Kimco Realty during the third quarter worth about $204,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KIM has been the topic of several research reports. Evercore set a $24.00 price target on shares of Kimco Realty in a research report on Friday, February 13th. JPMorgan Chase & Co. upped their target price on shares of Kimco Realty from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, March 5th. Citigroup reduced their target price on shares of Kimco Realty from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, December 3rd. Truist Financial decreased their price target on shares of Kimco Realty from $23.00 to $22.00 and set a "hold" rating for the company in a research report on Tuesday, January 20th. Finally, UBS Group dropped their price target on shares of Kimco Realty from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.23.

Kimco Realty Stock Performance

Shares of KIM opened at $22.93 on Friday. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $23.91. The stock has a market capitalization of $15.46 billion, a PE ratio of 28.31, a PEG ratio of 1.30 and a beta of 1.04. 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 stock has a 50-day simple moving average of $21.87 and a 200-day simple moving average of $21.41.

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, March 6th. Kimco Realty's payout ratio is 128.40%.

Kimco Realty Company Profile

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.

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