Bryn Mawr Trust Advisors LLC Buys Shares of 311,317 Kimco Realty Corporation $KIM

Bryn Mawr Trust Advisors LLC bought a new stake in Kimco Realty Corporation (NYSE:KIM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 311,317 shares of the real estate investment trust’s stock, valued at approximately $7,892,000.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Kimco Realty in the 4th quarter valued at approximately $215,615,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Kimco Realty by 541.6% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,304,639 shares of the real estate investment trust’s stock valued at $137,756,000 after buying an additional 5,322,009 shares during the period. Invesco Ltd. boosted its stake in shares of Kimco Realty by 34.9% during the 4th quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust’s stock valued at $344,933,000 after buying an additional 4,399,959 shares during the period. Bank of America Corp DE grew its holdings in shares of Kimco Realty by 38.0% during the 1st quarter. Bank of America Corp DE now owns 8,753,550 shares of the real estate investment trust’s stock valued at $196,692,000 after acquiring an additional 2,412,675 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Kimco Realty by 200.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,574,515 shares of the real estate investment trust’s stock valued at $72,455,000 after acquiring an additional 2,383,236 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group increased their price objective on Kimco Realty from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Wolfe Research upgraded Kimco Realty from a “peer perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research note on Monday, June 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $28.00 target price on shares of Kimco Realty in a research report on Tuesday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $29.00 price target on shares of Kimco Realty in a research note on Monday, June 29th. Finally, Jefferies Financial Group upgraded Kimco Realty to a “hold” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Kimco Realty Stock Performance

Shares of KIM opened at $24.40 on Friday. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 2.60 and a beta of 0.95. The company’s fifty day moving average is $25.23 and its 200-day moving average is $23.80. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.84. Kimco Realty Corporation has a 12 month low of $19.76 and a 12 month high of $26.65.

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Friday, September 4th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 4.6%. Kimco Realty’s dividend payout ratio (DPR) is currently 122.35%.

About Kimco Realty

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.