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

Kimco Realty Corp (NYSE:KIM) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 14,670,000 shares, a drop 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.

Insider Buying and Selling at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the transaction, the chief operating officer now directly owns 337,111 shares in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in shares of Kimco Realty during the 2nd quarter worth $274,000. Truist Financial Corp lifted its holdings in shares of Kimco Realty by 2.0% in the second quarter. Truist Financial Corp now owns 37,223 shares of the real estate investment trust’s stock worth $724,000 after acquiring an additional 746 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Kimco Realty in the 2nd quarter valued at approximately $1,423,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Kimco Realty during the 2nd quarter valued at approximately $3,194,000. Finally, Mackenzie Financial Corp lifted its stake in Kimco Realty by 2.3% in the 2nd quarter. Mackenzie Financial Corp now owns 67,604 shares of the real estate investment trust’s stock valued at $1,316,000 after purchasing an additional 1,528 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Price Performance

Shares of KIM traded down $0.04 during trading hours on Wednesday, hitting $23.54. 3,025,578 shares of the company were exchanged, compared to its average volume of 4,646,655. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Kimco Realty has a fifty-two week low of $16.34 and a fifty-two week high of $24.25. The company has a market cap 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. The firm’s fifty day moving average is $22.22 and its 200 day moving average is $20.07.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data 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). The firm had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 earnings per share. On average, equities analysts anticipate that Kimco Realty will post 1.62 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.96 annualized dividend and a yield of 4.08%. Kimco Realty’s dividend payout ratio is currently 181.13%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Evercore ISI increased their price target on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday. Truist Financial increased their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Compass Point raised their target price on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Mizuho lowered shares of Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price target for the company from $20.00 to $23.00 in a research note on Monday, August 19th. Finally, Scotiabank raised their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Ten 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’s stock. According to data from MarketBeat, Kimco Realty presently has an average rating of “Moderate Buy” and an average target price of $23.55.

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.