Traders Buy High Volume of Put Options on Kimco Realty (NYSE:KIM)

Kimco Realty Corp (NYSE:KIM) was the recipient of unusually large options trading activity on Thursday. Investors bought 3,651 put options on the stock. This represents an increase of 1,606% compared to the average volume of 214 put options.

Kimco Realty Trading Up 1.2 %

Shares of NYSE:KIM traded up $0.23 during trading on Thursday, reaching $19.00. The stock had a trading volume of 392,561 shares, compared to its average volume of 4,942,068. The business has a fifty day moving average price of $18.80 and a 200-day moving average price of $19.57. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.71. The stock has a market cap of $12.81 billion, a P/E ratio of 35.42, a PEG ratio of 3.63 and a beta of 1.50. Kimco Realty has a fifty-two week low of $16.34 and a fifty-two week high of $22.83.

Kimco Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.96 dividend on an annualized basis and a yield of 5.05%. Kimco Realty’s payout ratio is 181.14%.

Analysts Set New Price Targets

KIM has been the topic of several research reports. Robert W. Baird lowered their price objective on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. Citigroup reissued a “neutral” rating and set a $20.00 price objective (down from $26.00) on shares of Kimco Realty in a research report on Friday, March 22nd. Truist Financial lowered their price objective on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday, May 20th. Bank of America reaffirmed a “neutral” rating and issued a $20.00 target price (down previously from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Finally, Mizuho lowered their target price on shares of Kimco Realty from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kimco Realty currently has a consensus rating of “Hold” and a consensus price target of $21.52.

Institutional Investors Weigh In On Kimco Realty

A number of institutional investors have recently bought and sold shares of the stock. Kentucky Retirement Systems grew its holdings in Kimco Realty by 1.3% in the fourth quarter. Kentucky Retirement Systems now owns 49,597 shares of the real estate investment trust’s stock valued at $1,057,000 after purchasing an additional 631 shares during the period. Baker Ellis Asset Management LLC grew its stake in Kimco Realty by 0.5% during the first quarter. Baker Ellis Asset Management LLC now owns 129,802 shares of the real estate investment trust’s stock worth $2,545,000 after buying an additional 680 shares during the period. Quadrant Capital Group LLC grew its stake in Kimco Realty by 17.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,833 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 717 shares during the period. EverSource Wealth Advisors LLC grew 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 buying an additional 773 shares during the period. Finally, V Square Quantitative Management LLC grew its stake in Kimco Realty by 7.2% during the fourth quarter. V Square Quantitative Management LLC now owns 11,788 shares of the real estate investment trust’s stock worth $251,000 after buying an additional 794 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

About Kimco Realty

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.