Kimco Realty Corp (NYSE:KIM) Short Interest Update

Kimco Realty Corp (NYSE:KIM) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 14,560,000 shares, a decrease of 18.6% from the November 15th total of 17,880,000 shares. Based on an average daily trading volume, of 4,120,000 shares, the days-to-cover ratio is currently 3.5 days.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC purchased a new stake in shares of Kimco Realty in the third quarter worth approximately $17,636,000. Synovus Financial Corp boosted its stake in shares of Kimco Realty by 6.2% during the 3rd quarter. Synovus Financial Corp now owns 42,579 shares of the real estate investment trust’s stock valued at $989,000 after buying an additional 2,476 shares during the period. Tidal Investments LLC grew its holdings in shares of Kimco Realty by 17.9% during the 3rd quarter. Tidal Investments LLC now owns 35,999 shares of the real estate investment trust’s stock valued at $836,000 after acquiring an additional 5,466 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Kimco Realty in the third quarter worth $31,000. Finally, World Investment Advisors LLC purchased a new stake in shares of Kimco Realty during the third quarter worth $269,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on KIM shares. Scotiabank raised their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. Truist Financial lifted their price target on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Robert W. Baird upped their price objective on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Mizuho boosted their price target on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group upped their price target on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Kimco Realty currently has a consensus rating of “Moderate Buy” and an average price target of $24.70.

Kimco Realty Price Performance

Shares of NYSE:KIM traded up $0.12 during trading hours on Friday, hitting $24.61. 4,224,304 shares of the company’s stock traded hands, compared to its average volume of 4,517,431. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. The company has a market cap of $16.59 billion, a price-to-earnings ratio of 44.75, a price-to-earnings-growth ratio of 3.20 and a beta of 1.50. Kimco Realty has a 52 week low of $17.57 and a 52 week high of $25.83. The company’s fifty day simple moving average is $24.50 and its two-hundred day simple moving average is $22.43.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). The company had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. As a group, equities analysts anticipate that Kimco Realty will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Thursday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is 181.82%.

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.