Kennedy-Wilson (KW) Reaches New 12-Month High at $21.10

Kennedy-Wilson Holdings Inc (NYSE:KW)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $21.10 and last traded at $21.15, with a volume of 1300166 shares traded. The stock had previously closed at $20.75.

A number of research firms have issued reports on KW. ValuEngine raised shares of Kennedy-Wilson from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. JMP Securities raised shares of Kennedy-Wilson from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $26.00.

The company has a market capitalization of $3.02 billion, a P/E ratio of 47.00 and a beta of 1.28. The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.01 and a current ratio of 1.01.

Kennedy-Wilson (NYSE:KW) last issued its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.08. The business had revenue of $190.70 million for the quarter, compared to analysts’ expectations of $184.01 million. Kennedy-Wilson had a net margin of 11.76% and a return on equity of 2.66%. The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. research analysts predict that Kennedy-Wilson Holdings Inc will post -0.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Friday, June 29th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.76 dividend on an annualized basis and a yield of 3.59%. Kennedy-Wilson’s dividend payout ratio is currently 168.89%.

Kennedy-Wilson announced that its board has initiated a share repurchase plan on Tuesday, March 20th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

In related news, Director Cathy Hendrickson sold 5,000 shares of Kennedy-Wilson stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $20.64, for a total value of $103,200.00. Following the sale, the director now owns 68,218 shares of the company’s stock, valued at approximately $1,408,019.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.58% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Kempen Capital Management N.V. acquired a new stake in Kennedy-Wilson in the 1st quarter valued at $12,905,000. Principal Financial Group Inc. boosted its stake in Kennedy-Wilson by 95.7% during the 1st quarter. Principal Financial Group Inc. now owns 3,480,739 shares of the financial services provider’s stock worth $60,565,000 after purchasing an additional 1,702,404 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its stake in Kennedy-Wilson by 2.3% during the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 1,551,727 shares of the financial services provider’s stock worth $27,000,000 after purchasing an additional 34,235 shares during the last quarter. Xact Kapitalforvaltning AB boosted its stake in Kennedy-Wilson by 33.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 21,076 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Kennedy-Wilson by 10.6% during the 1st quarter. Legal & General Group Plc now owns 438,796 shares of the financial services provider’s stock worth $7,643,000 after purchasing an additional 41,915 shares during the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Kennedy-Wilson Company Profile

Kennedy-Wilson Holdings, Inc operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and commercial properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.

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