Mackenzie Financial Corp Increases Stock Position in Kimco Realty Corp (NYSE:KIM)

Mackenzie Financial Corp raised its holdings in Kimco Realty Corp (NYSE:KIM) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,482 shares of the real estate investment trust’s stock after purchasing an additional 3,307 shares during the period. Mackenzie Financial Corp’s holdings in Kimco Realty were worth $1,438,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strs Ohio lifted its stake in shares of Kimco Realty by 4.0% during the fourth quarter. Strs Ohio now owns 679,100 shares of the real estate investment trust’s stock valued at $14,471,000 after buying an additional 26,385 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Kimco Realty by 8.0% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,837,991 shares of the real estate investment trust’s stock valued at $81,788,000 after buying an additional 284,099 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Kimco Realty during the fourth quarter valued at approximately $857,000. Mutual of America Capital Management LLC lifted its stake in shares of Kimco Realty by 2.6% during the fourth quarter. Mutual of America Capital Management LLC now owns 88,978 shares of the real estate investment trust’s stock valued at $1,896,000 after buying an additional 2,239 shares during the period. Finally, Custom Index Systems LLC purchased a new position in Kimco Realty during the fourth quarter worth approximately $355,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

KIM opened at $18.53 on Thursday. The company has a fifty day simple moving average of $19.04 and a 200 day simple moving average of $19.37. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 4.19 and a beta of 1.45. Kimco Realty Corp has a twelve month low of $16.34 and a twelve month high of $22.83. The company has a current ratio of 5.05, a quick ratio of 5.05 and a debt-to-equity ratio of 0.79.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend was Wednesday, March 6th. Kimco Realty’s payout ratio is 94.12%.

Insider Activity at Kimco Realty

In other Kimco Realty news, Director Frank Lourenso sold 8,890 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total transaction of $172,643.80. Following the completion of the transaction, the director now directly owns 203,534 shares of the company’s stock, valued at approximately $3,952,630.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

KIM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Kimco Realty in a research note on Tuesday, January 30th. They set a “hold” rating and a $23.00 price target on the stock. Bank of America reaffirmed a “neutral” rating and set a $20.00 price target (down previously from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Mizuho cut their price target on shares of Kimco Realty from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Citigroup reissued a “neutral” rating and issued a $20.00 target price (down previously from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Finally, Robert W. Baird cut their target price on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 4th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.67.

Kimco Realty Company Profile

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.