Kimco Realty Corp (NYSE:KIM) Short Interest Down 5.5% in October

Kimco Realty Corp (NYSE:KIM) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 15,840,000 shares, a drop of 5.5% from the September 30th total of 16,760,000 shares. Based on an average trading volume of 4,030,000 shares, the days-to-cover ratio is presently 3.9 days.

Kimco Realty Stock Down 0.5 %

Shares of NYSE:KIM traded down $0.11 during trading hours on Thursday, reaching $23.91. The stock had a trading volume of 2,934,614 shares, compared to its average volume of 4,586,100. Kimco Realty has a 1 year low of $17.31 and a 1 year high of $24.67. The firm’s 50 day moving average is $23.44 and its 200-day moving average is $21.02. The stock has a market capitalization of $16.12 billion, a price-to-earnings ratio of 45.32, a P/E/G ratio of 4.10 and a beta of 1.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73.

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

Analysts Set New Price Targets

Several research firms recently commented on KIM. Compass Point increased their price target on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Scotiabank upped their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Finally, Evercore ISI raised their target price on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.55.

Insider Activity at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the transaction, the chief operating officer now owns 337,111 shares of the company’s stock, valued at $7,389,473.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in KIM. State of Michigan Retirement System raised its position in Kimco Realty by 7.5% in the first quarter. State of Michigan Retirement System now owns 182,533 shares of the real estate investment trust’s stock worth $3,579,000 after acquiring an additional 12,800 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Kimco Realty by 7.1% during the 1st quarter. State of Alaska Department of Revenue now owns 385,275 shares of the real estate investment trust’s stock worth $7,554,000 after buying an additional 25,509 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Kimco Realty in the 1st quarter worth about $687,000. Commonwealth Equity Services LLC grew its stake in Kimco Realty by 2.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 55,957 shares of the real estate investment trust’s stock valued at $1,097,000 after acquiring an additional 1,601 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Kimco Realty by 11.1% during the 1st quarter. Van ECK Associates Corp now owns 278,873 shares of the real estate investment trust’s stock valued at $5,469,000 after acquiring an additional 27,905 shares in the last quarter. 89.25% of the stock is owned by hedge funds and other 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.