Is Kimco Realty Corp (KIM) Going to Burn These Hedge Funds?

Is Kimco Realty Corp (NYSE:KIM) a good investment?

In the financial world, there are dozens of gauges market participants can use to watch stocks. A couple of the most under-the-radar are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite fund managers can outpace the market by a healthy amount (see just how much).

Equally as necessary, positive insider trading sentiment is another way to analyze the stock market universe. Just as you’d expect, there are plenty of incentives for an upper level exec to sell shares of his or her company, but only one, very clear reason why they would behave bullishly. Several academic studies have demonstrated the valuable potential of this tactic if you understand where to look (learn more here).

What’s more, let’s examine the recent info about Kimco Realty Corp (NYSE:KIM).

What does the smart money think about Kimco Realty Corp (NYSE:KIM)?

Heading into Q3, a total of 11 of the hedge funds we track held long positions in this stock, a change of 22% from one quarter earlier. With hedge funds’ capital changing hands, there exists an “upper tier” of key hedge fund managers who were upping their holdings considerably.

When using filings from the hedgies we track, Adage Capital Management, managed by Phill Gross and Robert Atchinson, holds the most valuable position in Kimco Realty Corp (NYSE:KIM). Adage Capital Management has a $13.1 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Renaissance Technologies, managed by Jim Simons, which held a $9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedgies that hold long positions include Cliff Asness’s AQR Capital Management, Israel Englander’s Millennium Management and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.

Consequently, certain money managers were breaking ground themselves. Adage Capital Management, managed by Phill Gross and Robert Atchinson, created the most valuable position in Kimco Realty Corp (NYSE:KIM). Adage Capital Management had 13.1 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also made a $9 million investment in the stock during the quarter. The other funds with brand new KIM positions are Cliff Asness’s AQR Capital Management, Israel Englander’s Millennium Management, and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.

How are insiders trading Kimco Realty Corp (NYSE:KIM)?

Bullish insider trading is most useful when the company in question has seen transactions within the past six months. Over the latest 180-day time period, Kimco Realty Corp (NYSE:KIM) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll go over the relationship between both of these indicators in other stocks similar to Kimco Realty Corp (NYSE:KIM). These stocks are DDR Corp (NYSE:DDR), Federal Realty Investment Trust (NYSE:FRT), SL Green Realty Corp (NYSE:SLG), Realty Income Corp (NYSE:O), and Macerich Co (NYSE:MAC). This group of stocks belong to the reit – retail industry and their market caps are closest to KIM’s market cap.