Short Interest in Kimco Realty Corp (NYSE:KIM) Expands By 5.5%

Kimco Realty Corp (NYSE:KIM) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 17,110,000 shares, a growth of 5.5% from the July 15th total of 16,220,000 shares. Based on an average daily volume of 4,090,000 shares, the days-to-cover ratio is currently 4.2 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KIM shares. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $20.00 to $23.00 in a research note on Monday. Piper Sandler reissued an “overweight” rating and set a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a research note on Friday. Robert W. Baird upped their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Truist Financial reduced their price objective on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and an average target price of $22.73.

Insider Activity

In other news, COO David Jamieson sold 50,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $21.92, for a total value of $1,096,000.00. Following the sale, the chief operating officer now directly owns 337,111 shares in the company, valued at $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. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Kimco Realty

Large investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Kimco Realty by 1.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,782 shares of the real estate investment trust’s stock valued at $816,000 after buying an additional 522 shares during the last quarter. Kentucky Retirement Systems increased its holdings in shares of Kimco Realty by 1.3% during 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 during the period. Cascade Investment Advisors Inc. lifted its holdings in Kimco Realty by 1.1% in the second quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust’s stock worth $1,110,000 after purchasing an additional 640 shares during the period. Checchi Capital Advisers LLC grew its position in Kimco Realty by 5.0% in the 2nd quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 663 shares in the last quarter. Finally, Baker Ellis Asset Management LLC increased its stake in Kimco Realty by 0.5% during the 1st quarter. Baker Ellis Asset Management LLC now owns 129,802 shares of the real estate investment trust’s stock valued at $2,545,000 after buying an additional 680 shares during the period. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Stock Performance

KIM stock opened at $22.30 on Tuesday. The stock’s 50 day simple moving average is $20.41 and its 200 day simple moving average is $19.55. Kimco Realty has a 12-month low of $16.34 and a 12-month high of $22.83. The firm has a market cap of $15.03 billion, a P/E ratio of 42.08, a P/E/G ratio of 4.23 and a beta of 1.51. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The business had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. During the same period last year, the company posted $0.39 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts predict that Kimco Realty will post 1.6 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is presently 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.