Kimco Realty Corporation (NYSE:KIM) saw a large growth in short interest in June. As of June 30th, there was short interest totalling 16,328,947 shares, a growth of 29.2% from the June 15th total of 12,635,758 shares. Based on an average daily volume of 8,162,944 shares, the short-interest ratio is currently 2.0 days. Currently, 4.0% of the shares of the stock are short sold.
A number of brokerages have weighed in on KIM. Zacks Investment Research upgraded Kimco Realty Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Barclays PLC reiterated an “overweight” rating and set a $23.00 price target (up previously from $22.00) on shares of Kimco Realty Corporation in a report on Monday, July 10th. BidaskClub upgraded Kimco Realty Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. ValuEngine lowered Kimco Realty Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $19.50 price target (down previously from $21.00) on shares of Kimco Realty Corporation in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $28.07.
In other news, Director Philip E. Coviello, Jr. acquired 7,500 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were bought at an average price of $19.44 per share, for a total transaction of $145,800.00. Following the acquisition, the director now owns 41,045 shares of the company’s stock, valued at approximately $797,914.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Philip E. Coviello, Jr. acquired 20,000 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was purchased at an average price of $17.37 per share, for a total transaction of $347,400.00. Following the acquisition, the director now directly owns 41,045 shares in the company, valued at approximately $712,951.65. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Profund Advisors LLC increased its position in Kimco Realty Corporation by 0.3% in the first quarter. Profund Advisors LLC now owns 22,393 shares of the real estate investment trust’s stock valued at $495,000 after buying an additional 67 shares during the period. Westwood Holdings Group Inc. increased its position in Kimco Realty Corporation by 0.6% in the first quarter. Westwood Holdings Group Inc. now owns 18,038 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 110 shares during the period. Financial Advisory Service Inc. increased its position in Kimco Realty Corporation by 1.0% in the first quarter. Financial Advisory Service Inc. now owns 11,200 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 112 shares during the period. Private Asset Management Inc. increased its position in Kimco Realty Corporation by 1.8% in the second quarter. Private Asset Management Inc. now owns 11,338 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 200 shares during the period. Finally, Capstone Asset Management Co. increased its position in Kimco Realty Corporation by 0.4% in the first quarter. Capstone Asset Management Co. now owns 52,286 shares of the real estate investment trust’s stock valued at $1,155,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 90.35% of the company’s stock.
Shares of Kimco Realty Corporation (KIM) opened at 18.93 on Tuesday. The company’s 50 day moving average price is $18.33 and its 200-day moving average price is $22.19. The firm has a market capitalization of $8.06 billion, a P/E ratio of 29.95 and a beta of 0.65. Kimco Realty Corporation has a 12 month low of $17.02 and a 12 month high of $32.24.
Kimco Realty Corporation (NYSE:KIM) last issued its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. Kimco Realty Corporation had a return on equity of 5.78% and a net margin of 27.02%. The business had revenue of $293.60 million for the quarter, compared to the consensus estimate of $291.46 million. During the same period in the prior year, the business earned $0.37 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that Kimco Realty Corporation will post $0.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Thursday, July 6th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $1.08 annualized dividend and a yield of 5.71%. Kimco Realty Corporation’s dividend payout ratio (DPR) is presently 168.75%.
Kimco Realty Corporation Company Profile
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of December 31, 2016, the Company had interests in 525 shopping center properties, aggregating 85.4 million square feet of gross leasable area (GLA), located in 34 states, Puerto Rico and Canada.
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