Kimco Realty Corp (NYSE:KIM) Short Interest Update

Kimco Realty Corp (NYSE:KIM) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 17,880,000 shares, a growth of 11.5% from the October 31st total of 16,030,000 shares. Based on an average daily volume of 4,050,000 shares, the days-to-cover ratio is currently 4.4 days.

Kimco Realty Trading Down 1.2 %

NYSE KIM traded down $0.31 on Monday, hitting $25.26. 883,793 shares of the stock were exchanged, compared to its average volume of 4,545,628. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. Kimco Realty has a 52-week low of $17.57 and a 52-week high of $25.83. The firm has a market capitalization of $17.03 billion, a P/E ratio of 46.49, a P/E/G ratio of 3.35 and a beta of 1.50. The stock has a fifty day moving average price of $24.14 and a two-hundred day moving average price of $22.02.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. During the same period in the prior year, the company posted $0.40 EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts forecast that Kimco Realty will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.25 per share. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.96%. Kimco Realty’s dividend payout ratio is presently 174.55%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KIM. UBS Group boosted their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. Robert W. Baird lifted their target price on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Evercore ISI upped their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Scotiabank lifted their price objective on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KIM. State Street Corp raised its holdings in Kimco Realty by 2.0% in the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after purchasing an additional 882,047 shares in the last quarter. FMR LLC grew its position in shares of Kimco Realty by 6.1% in the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock worth $518,733,000 after buying an additional 1,283,352 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Kimco Realty by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock worth $398,468,000 after acquiring an additional 53,378 shares in the last quarter. APG Asset Management US Inc. lifted its position in Kimco Realty by 1.6% during the second quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock valued at $288,155,000 after acquiring an additional 240,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Kimco Realty by 11.7% in the second quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock valued at $221,740,000 after acquiring an additional 1,193,600 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

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.