Twin Capital Management Inc. Lowers Stake in Kimco Realty Corporation $KIM

Twin Capital Management Inc. lowered its holdings in shares of Kimco Realty Corporation (NYSE:KIM) by 37.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 113,676 shares of the real estate investment trust’s stock after selling 67,335 shares during the period. Twin Capital Management Inc.’s holdings in Kimco Realty were worth $2,484,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in KIM. State Street Corp grew its stake in shares of Kimco Realty by 2.2% in the 2nd quarter. State Street Corp now owns 46,347,837 shares of the real estate investment trust’s stock worth $974,232,000 after buying an additional 995,352 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kimco Realty by 1.4% in the second quarter. Geode Capital Management LLC now owns 18,679,552 shares of the real estate investment trust’s stock worth $391,122,000 after acquiring an additional 260,928 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Kimco Realty by 8.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,132,059 shares of the real estate investment trust’s stock worth $255,016,000 after acquiring an additional 924,761 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Kimco Realty by 27.2% during the third quarter. Federated Hermes Inc. now owns 10,649,864 shares of the real estate investment trust’s stock valued at $232,700,000 after acquiring an additional 2,280,090 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Kimco Realty by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 10,021,054 shares of the real estate investment trust’s stock worth $210,643,000 after purchasing an additional 302,258 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Trading Up 0.8%

Shares of KIM stock opened at $21.86 on Friday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.77. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $23.03. The stock has a market capitalization of $14.80 billion, a P/E ratio of 26.34, a P/E/G ratio of 1.18 and a beta of 1.07. The firm’s 50 day moving average is $20.53 and its 200 day moving average is $21.15.

Analysts Set New Price Targets

A number of research firms have weighed in on KIM. Wells Fargo & Company reduced their price objective on shares of Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, December 15th. Wall Street Zen downgraded shares of Kimco Realty from a “hold” rating to a “sell” rating in a research report on Sunday, December 28th. Scotiabank decreased their price objective on shares of Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a report on Thursday, November 13th. Mizuho set a $21.00 target price on Kimco Realty in a research note on Friday, January 9th. Finally, Citigroup decreased their price target on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kimco Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.89.

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.