Kimco Realty Corp (NYSE:KIM – Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 15,840,000 shares, a decline of 5.5% from the September 30th total of 16,760,000 shares. Based on an average daily volume of 4,030,000 shares, the days-to-cover ratio is currently 3.9 days.
Wall Street Analysts Forecast Growth
KIM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Argus raised Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Wells Fargo & Company lifted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Compass Point raised their target price on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research report on Friday, August 16th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.55.
View Our Latest Stock Analysis on Kimco Realty
Kimco Realty Stock Down 0.5 %
Kimco Realty (NYSE:KIM – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. During the same period last year, the company posted $0.39 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. On average, analysts anticipate that Kimco Realty will post 1.62 earnings per share for the current year.
Insider Activity at Kimco Realty
In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the transaction, the chief operating officer now owns 337,111 shares of the company’s stock, valued at $7,389,473.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Kimco Realty
Several large investors have recently bought and sold shares of KIM. Gulf International Bank UK Ltd boosted its stake in Kimco Realty by 8.4% during the third quarter. Gulf International Bank UK Ltd now owns 47,170 shares of the real estate investment trust’s stock worth $1,095,000 after buying an additional 3,648 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Kimco Realty in the 3rd quarter worth approximately $25,000. Asset Management One Co. Ltd. lifted its position in Kimco Realty by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,222,544 shares of the real estate investment trust’s stock worth $28,387,000 after buying an additional 6,609 shares in the last quarter. Van ECK Associates Corp boosted its position in Kimco Realty by 10.7% in the 3rd quarter. Van ECK Associates Corp now owns 298,909 shares of the real estate investment trust’s stock valued at $7,162,000 after buying an additional 29,002 shares during the last quarter. Finally, Realta Investment Advisors acquired a new stake in Kimco Realty in the third quarter worth about $407,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.
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.
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