Kimco Realty Corp (NYSE:KIM) Sees Significant Drop in Short Interest

Kimco Realty Corp (NYSE:KIM) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 14,670,000 shares, a decrease of 11.4% from the August 15th total of 16,550,000 shares. Based on an average daily trading volume, of 4,030,000 shares, the short-interest ratio is currently 3.6 days.

Insider Buying and Selling

In related news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the transaction, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in Kimco Realty in the 4th quarter worth approximately $29,000. Blue Trust Inc. raised its position in shares of Kimco Realty by 613.5% during the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,816 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Kimco Realty by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 773 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Kimco Realty by 112.6% in the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in Kimco Realty during the 1st quarter valued at $70,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Mizuho cut Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. Finally, Scotiabank increased their price objective on Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.55.

Kimco Realty Stock Performance

NYSE KIM traded down $0.04 during trading hours on Wednesday, hitting $23.54. 3,025,014 shares of the company’s stock traded hands, compared to its average volume of 4,647,156. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72. Kimco Realty has a 52 week low of $16.34 and a 52 week high of $24.25. The firm has a market capitalization of $15.87 billion, a P/E ratio of 44.42, a P/E/G ratio of 4.01 and a beta of 1.51. The business’s fifty day moving average price is $22.29 and its two-hundred day moving average price is $20.09.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The business had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. Equities research analysts predict that Kimco Realty will post 1.62 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.08%. Kimco Realty’s payout ratio is currently 181.13%.

Kimco Realty Company Profile

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.