Kimco Realty Corp (NYSE:KIM) Sees Significant Decline in Short Interest

Kimco Realty Corp (NYSE:KIM) was the recipient of a significant decrease in short interest in 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 trading volume of 4,030,000 shares, the days-to-cover ratio is presently 3.6 days.

Insiders Place Their Bets

In other news, COO David Jamieson sold 50,000 shares of the business’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 value of $1,096,000.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Kimco Realty

Large investors have recently made changes to their positions in the stock. Principal Securities Inc. bought a new stake in shares of Kimco Realty in the fourth quarter valued at about $29,000. Principal Financial Group Inc. increased its position in shares of Kimco Realty by 21.8% in the fourth quarter. Principal Financial Group Inc. now owns 1,145,255 shares of the real estate investment trust’s stock valued at $24,405,000 after acquiring an additional 205,090 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Kimco Realty by 29.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 38,777 shares of the real estate investment trust’s stock worth $826,000 after acquiring an additional 8,857 shares in the last quarter. Quadrant Capital Group LLC boosted its position 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 valued at $103,000 after purchasing an additional 717 shares during the last quarter. Finally, Kentucky Retirement Systems grew its stake 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 in the last quarter. Institutional investors own 89.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KIM shares. JPMorgan Chase & Co. upped their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird upped their price objective on Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Compass Point lifted their target price on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI raised their price target on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday. Finally, Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and a consensus price target of $23.55.

Kimco Realty Trading Down 0.2 %

Shares of NYSE KIM traded down $0.04 during midday trading on Wednesday, reaching $23.54. 3,025,578 shares of the stock were exchanged, compared to its average volume of 4,646,655. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73. Kimco Realty has a 12 month low of $16.34 and a 12 month high of $24.25. The business has a 50-day simple moving average of $22.22 and a two-hundred day simple moving average of $20.07. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 44.68, a P/E/G ratio of 4.01 and a beta of 1.51.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (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 analyst estimates of $500.87 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts expect that Kimco Realty will post 1.62 EPS for the current year.

Kimco Realty Dividend Announcement

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

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.