Kimco Realty Target of Unusually Large Options Trading (NYSE:KIM)

Kimco Realty Corp (NYSE:KIM) was the target of some unusual options trading activity on Thursday. Stock investors bought 3,651 put options on the company. This is an increase of approximately 1,606% compared to the average volume of 214 put options.

Kimco Realty Stock Up 1.7 %

Shares of NYSE KIM opened at $19.09 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.86 and a quick ratio of 1.86. The company has a 50-day moving average price of $18.83 and a 200-day moving average price of $19.56. The stock has a market capitalization of $12.87 billion, a P/E ratio of 36.02, a P/E/G ratio of 3.63 and a beta of 1.50. Kimco Realty has a 1 year low of $16.34 and a 1 year high of $22.83.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a dividend of $0.24 per share. 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 5.03%. Kimco Realty’s dividend payout ratio (DPR) is currently 181.14%.

Institutional Trading of Kimco Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new stake in Kimco Realty in the 1st quarter valued at $200,043,000. Vanguard Group Inc. raised its holdings in shares of Kimco Realty by 7.7% in the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after purchasing an additional 7,931,013 shares during the last quarter. Norges Bank bought a new position in shares of Kimco Realty during the fourth quarter valued at about $150,326,000. Centersquare Investment Management LLC boosted its holdings in Kimco Realty by 76.8% during the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after purchasing an additional 6,282,891 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Kimco Realty by 23.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,120,015 shares of the real estate investment trust’s stock worth $547,401,000 after purchasing an additional 5,894,446 shares in the last quarter. 89.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.