Kimco Realty Corp (NYSE:KIM – Get Rating) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 13,900,000 shares, a decrease of 10.4% from the August 31st total of 15,510,000 shares. Based on an average daily volume of 3,730,000 shares, the days-to-cover ratio is presently 3.7 days.
Institutional Trading of Kimco Realty
Hedge funds and other institutional investors have recently bought and sold shares of the business. TD Asset Management Inc. increased its stake in Kimco Realty by 38.8% in the first quarter. TD Asset Management Inc. now owns 155,786 shares of the real estate investment trust's stock worth $3,848,000 after purchasing an additional 43,532 shares during the period. Xponance Inc. increased its stake in shares of Kimco Realty by 5.5% during the first quarter. Xponance Inc. now owns 42,455 shares of the real estate investment trust's stock valued at $1,049,000 after buying an additional 2,222 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Kimco Realty by 50.1% during the first quarter. Commonwealth Equity Services LLC now owns 48,061 shares of the real estate investment trust's stock valued at $1,187,000 after buying an additional 16,032 shares during the period. Values First Advisors Inc. purchased a new position in shares of Kimco Realty during the fourth quarter valued at $523,000. Finally, KBC Group NV purchased a new position in shares of Kimco Realty during the first quarter valued at $1,051,000. Hedge funds and other institutional investors own 94.16% of the company's stock.
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Kimco Realty Trading Up 1.8 %
KIM stock traded up $0.33 during midday trading on Friday, reaching $18.41. The company's stock had a trading volume of 6,299,918 shares, compared to its average volume of 4,009,403. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a fifty day simple moving average of $21.31 and a two-hundred day simple moving average of $22.21. Kimco Realty has a 1 year low of $17.71 and a 1 year high of $26.57. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.76 and a beta of 1.39.
Kimco Realty Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were paid a $0.22 dividend. This is a positive change from Kimco Realty's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.88 dividend on an annualized basis and a yield of 4.78%. Kimco Realty's dividend payout ratio (DPR) is presently 73.33%.
Analyst Upgrades and Downgrades
KIM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on Kimco Realty from $26.00 to $23.00 in a research note on Monday, July 11th. Jefferies Financial Group lowered their target price on Kimco Realty from $28.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, June 30th. StockNews.com downgraded Kimco Realty from a "hold" rating to a "sell" rating in a research report on Monday, August 1st. Barclays lowered their target price on Kimco Realty from $30.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, July 15th. Finally, UBS Group lowered their target price on Kimco Realty from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $24.67.
About Kimco Realty
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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.
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