Kimco Realty Corp (NYSE:KIM) Sees Large Growth in Short Interest

Kimco Realty Corp (NYSE:KIM) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 16,220,000 shares, an increase of 7.6% from the June 30th total of 15,080,000 shares. Based on an average daily trading volume, of 4,030,000 shares, the days-to-cover ratio is currently 4.0 days.

Kimco Realty Stock Performance

Shares of KIM stock traded up $0.07 during trading on Thursday, hitting $21.80. The company’s stock had a trading volume of 3,641,125 shares, compared to its average volume of 4,865,588. The business has a fifty day moving average of $19.62 and a 200-day moving average of $19.41. Kimco Realty has a 52 week low of $16.34 and a 52 week high of $22.83. The company has a market cap of $14.70 billion, a PE ratio of 41.00, a P/E/G ratio of 4.24 and a beta of 1.51. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.71.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KIM. Bank of America reissued a “neutral” rating and issued a $20.00 price objective (down from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Mizuho lowered their price objective on Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Robert W. Baird lowered their price objective on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, April 4th. Finally, Truist Financial lowered their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Kimco Realty has a consensus rating of “Hold” and a consensus price target of $21.52.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently bought and sold shares of the company. Analyst IMS Investment Management Services Ltd. boosted its holdings in shares of Kimco Realty by 157.1% in the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 167,422 shares of the real estate investment trust’s stock worth $3,568,000 after acquiring an additional 102,300 shares during the period. Duff & Phelps Investment Management Co. raised its position in shares of Kimco Realty by 2.9% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 342,244 shares of the real estate investment trust’s stock worth $7,293,000 after buying an additional 9,500 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Kimco Realty by 71.0% in the first quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock worth $3,531,000 after buying an additional 74,729 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Kimco Realty by 7.7% in the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after buying an additional 7,931,013 shares in the last quarter. Finally, Evoke Wealth LLC purchased a new stake in shares of Kimco Realty in the fourth quarter worth $4,181,000. 89.25% of the stock is owned by institutional investors.

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.