Kimco Realty Sees Unusually High Options Volume (NYSE:KIM)

Kimco Realty Corp (NYSE:KIM) was the target of unusually large options trading activity on Thursday. Investors purchased 3,651 put options on the company. This represents an increase of approximately 1,606% compared to the average daily volume of 214 put options.

Wall Street Analysts Forecast Growth

KIM has been the subject of a number of research analyst reports. Truist Financial cut their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, May 20th. Bank of America reissued a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Mizuho lowered their target price on Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Robert W. Baird cut their price target on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. Finally, Citigroup reissued a “neutral” rating and set a $20.00 price objective (down previously from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.52.

Kimco Realty Trading Up 2.0 %

KIM opened at $19.47 on Friday. The firm has a 50 day simple moving average of $18.86 and a 200 day simple moving average of $19.56. Kimco Realty has a fifty-two week low of $16.34 and a fifty-two week high of $22.83. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.86 and a quick ratio of 1.86.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Thursday, June 6th. Kimco Realty’s dividend payout ratio (DPR) is currently 181.14%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KIM. Old Port Advisors grew its holdings in Kimco Realty by 1.9% during the first quarter. Old Port Advisors now owns 123,969 shares of the real estate investment trust’s stock valued at $2,431,000 after purchasing an additional 2,325 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of 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 valued at $42,000 after buying an additional 773 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Kimco Realty by 4.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 395,627 shares of the real estate investment trust’s stock valued at $7,650,000 after buying an additional 16,876 shares in the last quarter. Boston Partners acquired a new stake in Kimco Realty during the 1st quarter worth $10,668,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Kimco Realty by 4.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 55,398 shares of the real estate investment trust’s stock worth $1,086,000 after acquiring an additional 2,133 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

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.