Kimco Realty Corp (NYSE:KIM) Sees Large Growth in Short Interest

Kimco Realty Corp (NYSE:KIM) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 16,220,000 shares, an increase of 7.6% from the June 30th total of 15,080,000 shares. Based on an average daily trading volume, of 4,030,000 shares, the days-to-cover ratio is currently 4.0 days.

Analyst Upgrades and Downgrades

KIM has been the topic of several research analyst reports. Mizuho reduced their price objective on Kimco Realty from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Truist Financial cut their target price on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Robert W. Baird cut their target price on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 4th. Finally, Bank of America reiterated a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.52.

Kimco Realty Stock Up 0.3 %

NYSE KIM traded up $0.07 during trading on Thursday, reaching $21.80. 3,641,125 shares of the company’s stock were exchanged, compared to its average volume of 4,865,588. Kimco Realty has a fifty-two week low of $16.34 and a fifty-two week high of $22.83. The firm has a market capitalization of $14.70 billion, a PE ratio of 41.00, a P/E/G ratio of 4.24 and a beta of 1.51. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $19.62 and its 200-day simple moving average is $19.41.

Institutional Investors Weigh In On Kimco Realty

Institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC lifted its holdings in Kimco Realty by 35.6% in the 2nd quarter. Natixis Advisors LLC now owns 419,370 shares of the real estate investment trust’s stock worth $8,161,000 after purchasing an additional 110,062 shares during the last quarter. Telos Capital Management Inc. lifted its holdings in Kimco Realty by 19.2% in the 2nd quarter. Telos Capital Management Inc. now owns 33,832 shares of the real estate investment trust’s stock worth $658,000 after purchasing an additional 5,458 shares during the last quarter. Nilsine Partners LLC lifted its holdings in Kimco Realty by 3.7% in the 2nd quarter. Nilsine Partners LLC now owns 91,571 shares of the real estate investment trust’s stock worth $1,782,000 after purchasing an additional 3,281 shares during the last quarter. Nicola Wealth Management LTD. lifted its holdings in Kimco Realty by 105.6% in the 2nd quarter. Nicola Wealth Management LTD. now owns 69,909 shares of the real estate investment trust’s stock worth $1,360,000 after purchasing an additional 35,909 shares during the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in Kimco Realty in the 2nd quarter worth approximately $591,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

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.