Kimco Realty Corporation (KIM) Short Interest Update

Kimco Realty Corporation (NYSE:KIM) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 16,328,947 shares, an increase of 29.2% from the June 15th total of 12,635,758 shares. Approximately 4.0% of the shares of the company are sold short. Based on an average daily trading volume, of 8,162,944 shares, the days-to-cover ratio is presently 2.0 days.

KIM has been the topic of a number of research reports. Barclays PLC dropped their price objective on shares of Kimco Realty Corporation from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 22nd. Zacks Investment Research downgraded shares of Kimco Realty Corporation from a “hold” rating to a “sell” rating in a report on Thursday, April 27th. Canaccord Genuity reaffirmed a “buy” rating and set a $34.00 price target on shares of Kimco Realty Corporation in a report on Thursday, April 27th. TheStreet downgraded shares of Kimco Realty Corporation from a “b-” rating to a “c” rating in a report on Wednesday, April 26th. Finally, Citigroup Inc. lowered their price target on shares of Kimco Realty Corporation from $26.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Kimco Realty Corporation presently has an average rating of “Hold” and an average price target of $28.07.

In other Kimco Realty Corporation news, Director Philip E. Coviello, Jr. acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were bought at an average price of $17.37 per share, with a total value of $347,400.00. Following the completion of the acquisition, the director now owns 41,045 shares in the company, valued at approximately $712,951.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip E. Coviello, Jr. acquired 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average cost 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 disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Kimco Realty Corporation by 6.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,887 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 366 shares during the period. Creative Planning raised its position in shares of Kimco Realty Corporation by 31.8% in the second quarter. Creative Planning now owns 11,257 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 2,715 shares during the period. Private Asset Management Inc. raised its position in shares of 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 worth $208,000 after buying an additional 200 shares during the period. Suntrust Banks Inc. raised its position in shares of Kimco Realty Corporation by 5.3% in the first quarter. Suntrust Banks Inc. now owns 9,930 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 504 shares during the period. Finally, Global X Management Co. LLC raised its position in shares of Kimco Realty Corporation by 30.5% in the first quarter. Global X Management Co. LLC now owns 9,861 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 2,304 shares during the period. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Kimco Realty Corporation (KIM) opened at 18.93 on Tuesday. The stock has a 50 day moving average of $18.33 and a 200 day moving average of $22.19. Kimco Realty Corporation has a 12-month low of $17.02 and a 12-month high of $32.24. The stock has a market cap of $8.06 billion, a P/E ratio of 29.95 and a beta of 0.65.

Kimco Realty Corporation (NYSE:KIM) last announced its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. Kimco Realty Corporation had a return on equity of 5.78% and a net margin of 27.02%. The firm had revenue of $293.60 million for the quarter, compared to analyst estimates of $291.46 million. During the same quarter last year, the firm posted $0.37 EPS. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts anticipate 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. Stockholders of record on Thursday, July 6th were given a dividend of $0.27 per share. The ex-dividend date was Monday, July 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.71%. Kimco Realty Corporation’s dividend payout ratio (DPR) is 168.75%.

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About Kimco Realty Corporation

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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