Summit Securities Group LLC Makes New $26,000 Investment in Kimco Realty Corp (NYSE:KIM)

Summit Securities Group LLC bought a new stake in Kimco Realty Corp (NYSE:KIM) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,100 shares of the real estate investment trust’s stock, valued at approximately $26,000.

Several other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Kimco Realty during the fourth quarter valued at approximately $363,436,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Kimco Realty by 842.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock worth $145,420,000 after buying an additional 5,598,091 shares during the period. Amundi lifted its holdings in Kimco Realty by 70.7% in the 4th quarter. Amundi now owns 5,999,390 shares of the real estate investment trust’s stock worth $132,227,000 after buying an additional 2,484,536 shares in the last quarter. Schroder Investment Management Group boosted its position in Kimco Realty by 348.9% in the 4th quarter. Schroder Investment Management Group now owns 3,114,647 shares of the real estate investment trust’s stock valued at $72,353,000 after buying an additional 2,420,884 shares during the last quarter. Finally, National Pension Service grew its stake in shares of Kimco Realty by 4,342.8% during the fourth quarter. National Pension Service now owns 1,078,262 shares of the real estate investment trust’s stock valued at $25,264,000 after acquiring an additional 1,053,992 shares in the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Down 0.4 %

Shares of Kimco Realty stock opened at $20.94 on Monday. The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.78 and a beta of 1.53. Kimco Realty Corp has a twelve month low of $17.57 and a twelve month high of $25.83. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The business’s 50 day simple moving average is $21.76 and its 200-day simple moving average is $23.12.

Kimco Realty (NYSE:KIM) last issued its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Equities research analysts forecast that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.78%. Kimco Realty’s payout ratio is currently 178.57%.

Analysts Set New Price Targets

KIM has been the subject of a number of analyst reports. Mizuho reduced their price target on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Scotiabank reduced their target price on Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $25.00 in a research note on Thursday, January 2nd. Citigroup reduced their price objective on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Finally, Wells Fargo & Company dropped their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Ten equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Kimco Realty currently has an average rating of “Moderate Buy” and an average price target of $24.43.

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.