Traders Buy High Volume of Put Options on Kimco Realty (NYSE:KIM)

Kimco Realty Corp (NYSE:KIM) was the target of unusually large options trading activity on Thursday. Stock investors bought 3,651 put options on the company. This is an increase of 1,606% compared to the typical volume of 214 put options.

Analysts Set New Price Targets

Several research firms have issued reports on KIM. Truist Financial lowered their price objective on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, May 20th. Robert W. Baird lowered their price target on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, April 4th. Bank of America reiterated a “neutral” rating and set a $20.00 price objective (down previously from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Mizuho cut their price target on shares of Kimco Realty from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, Citigroup restated a “neutral” rating and set a $20.00 price target (down previously from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.52.

Institutional Investors Weigh In On Kimco Realty

Several institutional investors have recently made changes to their positions in the stock. Kentucky Retirement Systems increased its stake in shares of Kimco Realty by 1.3% during the 4th quarter. Kentucky Retirement Systems now owns 49,597 shares of the real estate investment trust’s stock valued at $1,057,000 after acquiring an additional 631 shares during the last quarter. Baker Ellis Asset Management LLC boosted its stake in shares of Kimco Realty by 0.5% during the 1st quarter. Baker Ellis Asset Management LLC now owns 129,802 shares of the real estate investment trust’s stock valued at $2,545,000 after buying an additional 680 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Kimco Realty by 17.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,833 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 717 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Kimco Realty by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 773 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in Kimco Realty by 7.2% during the fourth quarter. V Square Quantitative Management LLC now owns 11,788 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 794 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Performance

KIM traded up $0.23 during trading on Thursday, hitting $19.00. The stock had a trading volume of 392,561 shares, compared to its average volume of 4,942,068. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market capitalization of $12.81 billion, a P/E ratio of 35.42, a PEG ratio of 3.63 and a beta of 1.50. The company’s 50-day moving average price is $18.80 and its 200 day moving average price is $19.57. Kimco Realty has a twelve month low of $16.34 and a twelve month high of $22.83.

Kimco Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.96 annualized dividend and a dividend yield of 5.05%. Kimco Realty’s payout ratio is currently 181.14%.

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.