Ibex Wealth Advisors Increases Stock Position in Kimco Realty Corporation $KIM

Ibex Wealth Advisors boosted its position in Kimco Realty Corporation (NYSE:KIM) by 1,583.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,634 shares of the real estate investment trust’s stock after buying an additional 214,113 shares during the quarter. Ibex Wealth Advisors’ holdings in Kimco Realty were worth $4,974,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KIM. Quent Capital LLC purchased a new position in shares of Kimco Realty during the 3rd quarter valued at approximately $27,000. City Holding Co. acquired a new stake in Kimco Realty in the third quarter valued at $30,000. CYBER HORNET ETFs LLC acquired a new stake in Kimco Realty in the second quarter valued at $37,000. Lavaca Capital LLC boosted its stake in Kimco Realty by 869.5% during the 2nd quarter. Lavaca Capital LLC now owns 1,939 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,739 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in Kimco Realty during the 2nd quarter worth $42,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Trading Down 0.4%

Shares of NYSE KIM opened at $23.54 on Friday. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $23.91. The company has a market cap of $15.87 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.07. The company has a current ratio of 3.31, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $21.32 and its 200 day simple moving average is $21.29.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, March 6th. Kimco Realty’s payout ratio is presently 128.40%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KIM. Piper Sandler upped their target price on shares of Kimco Realty from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, February 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Kimco Realty in a research note on Thursday, January 22nd. Morgan Stanley set a $23.50 target price on Kimco Realty in a research report on Monday, January 5th. Mizuho set a $21.00 price target on Kimco Realty in a report on Friday, January 9th. Finally, Argus reissued a “buy” rating and set a $27.00 price target on shares of Kimco Realty in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Kimco Realty currently has an average rating of “Moderate Buy” and an average price target of $24.18.

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.