Kimco Realty Corp (NYSE:KIM) Short Interest Up 11.5% in November

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on KIM. Compass Point lifted their price objective on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Wells Fargo & Company lifted their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Argus raised shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Scotiabank upped their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, November 25th. Finally, Evercore ISI upped their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Nine investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

Kimco Realty Trading Down 0.1 %

NYSE:KIM traded down $0.02 on Tuesday, reaching $25.21. 2,570,788 shares of the stock traded hands, compared to its average volume of 4,546,963. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 45.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.50. The company’s 50 day moving average is $24.17 and its 200-day moving average is $22.06. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty has a 1-year low of $17.57 and a 1-year high of $25.83.

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

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.97%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio is presently 174.55%.

Hedge Funds Weigh In On Kimco Realty

A number of institutional investors and hedge funds have recently modified their holdings of KIM. Tidal Investments LLC boosted its holdings in shares of Kimco Realty by 18.1% during the 1st quarter. Tidal Investments LLC now owns 21,304 shares of the real estate investment trust’s stock worth $418,000 after buying an additional 3,269 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Kimco Realty in the 1st quarter worth $265,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Kimco Realty by 4.0% in the 1st 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 purchasing an additional 2,133 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings 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 worth $7,650,000 after purchasing an additional 16,876 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 worth $42,000 after purchasing an additional 773 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.