Payden & Rygel Acquires Shares of 364,400 Kimco Realty Corporation $KIM

Payden & Rygel acquired a new stake in Kimco Realty Corporation (NYSE:KIM) in the third quarter, HoldingsChannel.com reports. The fund acquired 364,400 shares of the real estate investment trust’s stock, valued at approximately $7,962,000.

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

Kimco Realty Stock Performance

NYSE:KIM opened at $23.16 on Monday. The company has a market cap of $15.68 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 1.30 and a beta of 1.07. Kimco Realty Corporation has a fifty-two week low of $17.93 and a fifty-two week high of $23.22. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.31. The stock has a fifty day moving average price of $21.01 and a 200-day moving average price of $21.21.

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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, March 6th. Kimco Realty’s dividend payout ratio (DPR) is currently 128.40%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KIM. Wells Fargo & Company lowered their target price on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, December 15th. Morgan Stanley set a $23.50 price objective on Kimco Realty in a research report on Monday, January 5th. Evercore set a $24.00 target price on shares of Kimco Realty in a research report on Friday, February 13th. Mizuho set a $21.00 price target on shares of Kimco Realty in a research report on Friday, January 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Kimco Realty in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.18.

Kimco Realty Profile

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.