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

Kimco Realty Corp (NYSE:KIM) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 14,560,000 shares, a decrease of 18.6% from the November 15th total of 17,880,000 shares. Based on an average daily volume of 4,120,000 shares, the short-interest ratio is presently 3.5 days.

Kimco Realty Price Performance

Shares of KIM traded down $0.18 during trading hours on Monday, reaching $24.43. The stock had a trading volume of 4,605,752 shares, compared to its average volume of 4,517,834. 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 12 month low of $17.57 and a 12 month high of $25.83. The stock has a market capitalization of $16.47 billion, a PE ratio of 45.29, a PEG ratio of 3.20 and a beta of 1.50. The company’s 50-day moving average is $24.50 and its two-hundred day moving average is $22.46.

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

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.09%. Kimco Realty’s dividend payout ratio (DPR) is currently 181.82%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Compass Point lifted their price objective on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Robert W. Baird increased their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Evercore ISI boosted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. The Goldman Sachs Group increased their price target on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.70.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. raised its position in Kimco Realty by 10.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 119,144 shares of the real estate investment trust’s stock worth $2,319,000 after purchasing an additional 11,577 shares during the last quarter. Blue Trust Inc. raised its position in shares of Kimco Realty by 613.5% during the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,816 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Kimco Realty by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust’s stock worth $73,195,000 after acquiring an additional 103,861 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Kimco Realty by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 447,010 shares of the real estate investment trust’s stock valued at $8,699,000 after acquiring an additional 1,474 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its position in Kimco Realty by 10.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 114,448 shares of the real estate investment trust’s stock valued at $2,227,000 after purchasing an additional 11,211 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

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.