BTIG Research reaffirmed their buy rating on shares of Kennedy-Wilson Holdings Inc. (NYSE:KW) in a research note published on Tuesday, October 17th. The brokerage currently has a $33.00 target price on the financial services provider’s stock.
“There’s One Less Reason Not to Buy Inexpensive KW We suspect that some investors have been holding off on buying shares of Kennedy Wilson Holdings (KW) until after shareholders of the company and of Kennedy Wilson Europe (KWE, Not Rated) voted to approve the former’s acquisition of the latter, perhaps because KW’s initial offer for KWE met with resistance among some hedge funds.”,” the firm’s analyst wrote.
Separately, BidaskClub lowered shares of Kennedy-Wilson Holdings from a sell rating to a strong sell rating in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $29.67.
Kennedy-Wilson Holdings (KW) traded down 1.904% during trading on Tuesday, hitting $19.325. The stock had a trading volume of 730,007 shares. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 102.249 and a beta of 1.36. The firm’s 50-day moving average price is $19.05 and its 200-day moving average price is $19.60. Kennedy-Wilson Holdings has a 52-week low of $17.95 and a 52-week high of $23.00.
Kennedy-Wilson Holdings (NYSE:KW) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.16. Kennedy-Wilson Holdings had a net margin of 3.13% and a return on equity of 2.28%. The firm had revenue of $177.80 million during the quarter, compared to analysts’ expectations of $178.55 million. During the same period in the prior year, the company posted ($0.02) earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Analysts predict that Kennedy-Wilson Holdings will post ($0.29) EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 29th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.68 dividend on an annualized basis and a yield of 3.45%. Kennedy-Wilson Holdings’s dividend payout ratio (DPR) is currently 377.80%.
Several institutional investors and hedge funds have recently made changes to their positions in KW. Bank of New York Mellon Corp boosted its holdings in shares of Kennedy-Wilson Holdings by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 517,629 shares of the financial services provider’s stock valued at $11,491,000 after purchasing an additional 26,255 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Kennedy-Wilson Holdings by 11.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 38,822 shares of the financial services provider’s stock valued at $862,000 after acquiring an additional 4,000 shares during the period. Karp Capital Management Corp purchased a new position in shares of Kennedy-Wilson Holdings in the 1st quarter valued at $227,000. Ameritas Investment Partners Inc. purchased a new position in shares of Kennedy-Wilson Holdings in the 1st quarter valued at $158,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Kennedy-Wilson Holdings by 80.6% in the 1st quarter. JPMorgan Chase & Co. now owns 183,629 shares of the financial services provider’s stock valued at $4,077,000 after acquiring an additional 81,977 shares during the period. Institutional investors own 84.47% of the company’s stock.
About Kennedy-Wilson Holdings
Kennedy-Wilson Holdings, Inc is a real estate investment company. The Company owns, operates, and invests in real estate both on its own and through its investment management platform. The Company focuses on multifamily and commercial properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy and Japan.
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