Robeco Institutional Asset Management B.V. Sells 265,000 Shares of Kimco Realty Corp (KIM)
Robeco Institutional Asset Management B.V. lowered its position in shares of Kimco Realty Corp (NYSE:KIM) by 93.0% in the fourth quarter, Holdings Channel reports. The fund owned 20,005 shares of the real estate investment trust’s stock after selling 265,000 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Kimco Realty were worth $364,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in KIM. American Century Companies Inc. acquired a new stake in shares of Kimco Realty in the 3rd quarter valued at approximately $44,360,000. Hamlin Capital Management LLC boosted its holdings in shares of Kimco Realty by 38.9% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,330,610 shares of the real estate investment trust’s stock valued at $84,663,000 after buying an additional 1,212,542 shares during the last quarter. Private Management Group Inc. acquired a new stake in shares of Kimco Realty in the 3rd quarter valued at approximately $21,318,000. Third Avenue Management LLC acquired a new stake in shares of Kimco Realty in the 3rd quarter valued at approximately $21,120,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Kimco Realty by 21.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 4,326,145 shares of the real estate investment trust’s stock valued at $84,577,000 after buying an additional 778,177 shares during the last quarter. 92.25% of the stock is owned by hedge funds and other institutional investors.
In other Kimco Realty news, insider Milton Cooper purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were acquired at an average price of $19.20 per share, for a total transaction of $960,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.99%. The ex-dividend date is Monday, April 2nd. Kimco Realty’s dividend payout ratio (DPR) is presently 130.23%.
KIM has been the subject of several recent analyst reports. BMO Capital Markets set a $21.00 price objective on Kimco Realty and gave the company a “hold” rating in a report on Wednesday, October 25th. Boenning Scattergood reissued a “hold” rating on shares of Kimco Realty in a report on Friday, October 27th. Robert W. Baird reissued a “buy” rating and issued a $23.00 price objective on shares of Kimco Realty in a report on Friday, November 10th. Stifel Nicolaus initiated coverage on Kimco Realty in a report on Thursday, November 30th. They issued a “hold” rating and a $19.50 price objective for the company. Finally, JPMorgan Chase & Co. downgraded Kimco Realty from an “overweight” rating to a “neutral” rating and set a $20.00 price objective for the company. in a report on Friday, December 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. Kimco Realty currently has a consensus rating of “Hold” and an average target price of $21.34.
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About Kimco Realty
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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