Cornercap Investment Counsel Inc. Sells 1,118 Shares of Kimco Realty Corp (NYSE:KIM)

Cornercap Investment Counsel Inc. lessened its stake in shares of Kimco Realty Corp (NYSE:KIM) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,015 shares of the real estate investment trust’s stock after selling 1,118 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Kimco Realty were worth $597,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Kimco Realty by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 82,511 shares of the real estate investment trust’s stock worth $2,038,000 after purchasing an additional 5,138 shares during the last quarter. APG Asset Management N.V. bought a new stake in shares of Kimco Realty in the first quarter worth $557,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Kimco Realty in the first quarter worth $2,351,000. National Pension Service bought a new stake in shares of Kimco Realty in the first quarter worth $22,589,000. Finally, Vanguard Group Inc. grew its stake in shares of Kimco Realty by 3.2% in the first quarter. Vanguard Group Inc. now owns 100,537,581 shares of the real estate investment trust’s stock worth $2,483,278,000 after purchasing an additional 3,081,151 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

Shares of NYSE KIM opened at $17.61 on Wednesday. The firm’s 50-day moving average price is $19.24 and its 200-day moving average price is $19.33. Kimco Realty Corp has a 1-year low of $16.34 and a 1-year high of $22.83. The firm has a market capitalization of $11.87 billion, a P/E ratio of 17.26, a P/E/G ratio of 4.07 and a beta of 1.45. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 6th. This represents a $0.96 annualized dividend and a dividend yield of 5.45%. Kimco Realty’s dividend payout ratio is currently 94.12%.

Analyst Ratings Changes

Several analysts recently weighed in on KIM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Kimco Realty in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective on the stock. Bank of America reissued a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Piper Sandler boosted their price objective on shares of Kimco Realty from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. Citigroup restated a “neutral” rating and issued a $20.00 target price (down previously from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Finally, Robert W. Baird dropped their target price on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, April 4th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.67.

Insider Activity

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

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.