Short Interest in Kimco Realty Corp (NYSE:KIM) Drops By 14.1%

Kimco Realty Corp (NYSE:KIM - Get Free Report) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 15,990,000 shares, a drop of 14.1% from the February 13th total of 18,620,000 shares. Based on an average daily volume of 4,360,000 shares, the days-to-cover ratio is currently 3.7 days. Approximately 2.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Kimco Realty

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its stake in shares of Kimco Realty by 2.0% during the 3rd quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust's stock worth $1,048,797,000 after acquiring an additional 882,047 shares during the last quarter. FMR LLC increased its holdings in Kimco Realty by 7.9% during the 4th quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust's stock worth $564,560,000 after purchasing an additional 1,755,684 shares during the period. Geode Capital Management LLC increased its holdings in Kimco Realty by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust's stock worth $411,179,000 after purchasing an additional 377,074 shares during the period. Invesco Ltd. increased its holdings in Kimco Realty by 18.3% during the 4th quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust's stock worth $407,301,000 after purchasing an additional 2,692,258 shares during the period. Finally, Resolution Capital Ltd increased its holdings in Kimco Realty by 13.7% during the 4th quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust's stock worth $388,442,000 after purchasing an additional 1,992,550 shares during the period. 89.25% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho cut their target price on Kimco Realty from $26.00 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Evercore ISI cut their target price on Kimco Realty from $24.00 to $23.00 and set an "in-line" rating for the company in a research report on Tuesday, December 24th. Citigroup dropped their price target on Kimco Realty from $27.00 to $21.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Scotiabank dropped their price target on Kimco Realty from $26.00 to $24.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Finally, Wells Fargo & Company dropped their price target on Kimco Realty from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Ten investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.50.

Kimco Realty Trading Down 0.6 %

Shares of NYSE:KIM traded down $0.14 during trading on Friday, hitting $20.78. The company had a trading volume of 10,869,598 shares, compared to its average volume of 4,071,650. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 2.78 and a beta of 1.53. Kimco Realty has a one year low of $17.57 and a one year high of $25.83. The company has a fifty day simple moving average of $21.86 and a two-hundred day simple moving average of $23.19. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. As a group, equities analysts forecast that Kimco Realty will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Friday, March 7th. Kimco Realty's dividend payout ratio is currently 178.57%.

Kimco Realty Company Profile

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.