Handelsinvest Investeringsforvaltning Sells 7,307 Shares of Kimco Realty Corp (NYSE:KIM)

Handelsinvest Investeringsforvaltning cut its position in Kimco Realty Corp (NYSE:KIM) by 34.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,073 shares of the real estate investment trust’s stock after selling 7,307 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Kimco Realty were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in KIM. Envestnet Asset Management Inc. raised its position in shares of Kimco Realty by 12.2% during the third quarter. Envestnet Asset Management Inc. now owns 405,468 shares of the real estate investment trust’s stock worth $7,132,000 after acquiring an additional 44,062 shares during the last quarter. Natixis Advisors L.P. grew its stake in Kimco Realty by 18.9% during the third quarter. Natixis Advisors L.P. now owns 163,638 shares of the real estate investment trust’s stock worth $2,878,000 after purchasing an additional 26,009 shares during the period. Bank of Nova Scotia grew its stake in Kimco Realty by 15.4% during the third quarter. Bank of Nova Scotia now owns 57,165 shares of the real estate investment trust’s stock worth $1,006,000 after purchasing an additional 7,611 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Kimco Realty by 80.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,116,363 shares of the real estate investment trust’s stock worth $19,637,000 after purchasing an additional 498,700 shares during the period. Finally, Kettle Hill Capital Management LLC grew its stake in Kimco Realty by 38.6% during the third quarter. Kettle Hill Capital Management LLC now owns 1,780,372 shares of the real estate investment trust’s stock worth $31,317,000 after purchasing an additional 495,369 shares during the period. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Price Performance

Kimco Realty stock remained flat at $19.41 during mid-day trading on Wednesday. The company had a trading volume of 109,327 shares, compared to its average volume of 4,939,755. The business has a 50 day simple moving average of $18.89 and a two-hundred day simple moving average of $19.50. The company has a market capitalization of $13.08 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 3.76 and a beta of 1.51. Kimco Realty Corp has a 1-year low of $16.34 and a 1-year high of $22.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.86 and a quick ratio of 1.86.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a $0.24 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.96 annualized dividend and a dividend yield of 4.95%. Kimco Realty’s payout ratio is presently 181.14%.

Analysts Set New Price Targets

Several equities research analysts recently commented on KIM shares. Bank of America reaffirmed a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Citigroup reaffirmed a “neutral” rating and set a $20.00 target price (down previously from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Truist Financial reduced their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, May 20th. Robert W. Baird reduced their price objective on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, April 4th. Finally, Mizuho reduced their price objective on Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently 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.