Short Interest in Kimco Realty Corp (NYSE:KIM) Grows By 8.0%

Kimco Realty Corp (NYSE:KIM - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 16,490,000 shares, an increase of 8.0% from the February 29th total of 15,270,000 shares. Based on an average daily volume of 5,960,000 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KIM. Piper Sandler upped their price target on Kimco Realty from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Wednesday, December 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Kimco Realty in a report on Tuesday, January 30th. They issued a "hold" rating and a $23.00 target price on the stock. TheStreet upgraded shares of Kimco Realty from a "c+" rating to a "b-" rating in a report on Thursday, December 7th. Mizuho dropped their price objective on shares of Kimco Realty from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Friday, February 23rd. Finally, Citigroup reaffirmed a "neutral" rating and set a $20.00 price objective (down from $26.00) on shares of Kimco Realty in a research report on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $21.89.

Insider Activity

In related news, Director Frank Lourenso sold 8,890 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total transaction of $172,643.80. Following the sale, the director now directly owns 203,534 shares of the company's stock, valued at approximately $3,952,630.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KIM. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Kimco Realty during the third quarter worth approximately $27,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Kimco Realty during the 4th quarter worth $27,000. Headlands Technologies LLC acquired a new stake in Kimco Realty during the 4th quarter worth $27,000. Principal Securities Inc. purchased a new position in Kimco Realty during the 4th quarter worth $29,000. Finally, Criterion Capital Advisors LLC acquired a new position in Kimco Realty in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 89.25% of the company's stock.

Kimco Realty Stock Performance

KIM traded down $0.20 on Tuesday, reaching $18.89. The company had a trading volume of 3,160,931 shares, compared to its average volume of 5,755,010. The company has a quick ratio of 5.05, a current ratio of 5.05 and a debt-to-equity ratio of 0.79. Kimco Realty has a 1 year low of $16.34 and a 1 year high of $22.83. The stock has a market capitalization of $12.73 billion, a PE ratio of 18.52, a P/E/G ratio of 3.80 and a beta of 1.45. The stock has a 50-day moving average price of $19.64 and a 200-day moving average price of $19.30.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.08%. Kimco Realty's dividend payout ratio (DPR) is presently 94.12%.

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.