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

Kimco Realty Corp (NYSE:KIM) saw a large decrease in short interest in the month of 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 volume of 4,030,000 shares, the days-to-cover ratio is currently 3.6 days.

Insider Buying and Selling

In related news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. acquired a new position in shares of Kimco Realty in the fourth quarter valued at about $29,000. Blue Trust Inc. boosted its position in Kimco Realty by 613.5% in the second 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 during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Kimco Realty by 52.6% in the 1st 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. UMB Bank n.a. raised its position in Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 1,787 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Kimco Realty in the 1st quarter valued at $70,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Stock Down 0.2 %

Shares of KIM traded down $0.04 during midday trading 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. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 4.01 and a beta of 1.51. Kimco Realty has a 1 year low of $16.34 and a 1 year high of $24.25. The firm’s fifty day moving average is $22.29 and its 200-day moving average is $20.09.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The business had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. During the same quarter last year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kimco Realty will post 1.62 earnings per share for the current year.

Kimco Realty Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on KIM shares. Argus raised shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. The Goldman Sachs Group boosted their price target on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a report on Friday, August 16th. Wells Fargo & Company raised their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Compass Point upped their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.55.

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.