Kennedy-Wilson Holdings Inc. (NYSE:KW) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Kennedy Wilson is a vertically-integrated real estate investment and services company. The company offers a comprehensive array of real estate services including property and asset management, brokerage and auction services, and construction and trust management. Through its fund management and separate account businesses, Kennedy Wilson is a strategic investor and manager of real estate investments in the United States and Japan. The company thrives on opportunity – identifying, creating, seizing and maximizing real estate opportunities. The company is headquartered in Beverly Hills, CA. “
KW has been the topic of a number of other research reports. BTIG Research reaffirmed a “buy” rating and issued a $33.00 price target on shares of Kennedy-Wilson Holdings in a report on Tuesday, July 5th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Kennedy-Wilson Holdings in a report on Tuesday, June 21st. Davy Research reaffirmed an “outperform” rating on shares of Kennedy-Wilson Holdings in a report on Friday, August 5th. Goodbody reaffirmed a “buy” rating on shares of Kennedy-Wilson Holdings in a report on Friday, August 5th. Finally, B. Riley reaffirmed a “buy” rating and issued a $31.75 price target on shares of Kennedy-Wilson Holdings in a report on Sunday, August 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Kennedy-Wilson Holdings currently has a consensus rating of “Buy” and a consensus target price of $30.69.
Shares of Kennedy-Wilson Holdings (NYSE:KW) opened at 20.61 on Tuesday. Kennedy-Wilson Holdings has a 12 month low of $15.74 and a 12 month high of $26.44. The firm has a market cap of $2.32 billion, a P/E ratio of 70.82 and a beta of 1.45. The company’s 50-day moving average price is $22.16 and its 200-day moving average price is $21.06.
Kennedy-Wilson Holdings (NYSE:KW) last posted its earnings results on Thursday, August 4th. The company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.11. Kennedy-Wilson Holdings had a net margin of 5.15% and a return on equity of 3.65%. The firm had revenue of $176.50 million for the quarter, compared to analysts’ expectations of $175.90 million. During the same quarter last year, the firm earned $0.29 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, analysts predict that Kennedy-Wilson Holdings will post ($0.29) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Friday, September 30th were paid a $0.14 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $0.56 dividend on an annualized basis and a yield of 2.72%. Kennedy-Wilson Holdings’s dividend payout ratio is 186.67%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KW. BlackRock Institutional Trust Company N.A. raised its position in Kennedy-Wilson Holdings by 3.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,371,180 shares of the company’s stock worth $51,929,000 after buying an additional 68,146 shares in the last quarter. Real Estate Management Services LLC raised its position in Kennedy-Wilson Holdings by 17.5% in the second quarter. Real Estate Management Services LLC now owns 1,377,300 shares of the company’s stock worth $26,114,000 after buying an additional 205,500 shares during the period. BlackRock Inc. raised its position in Kennedy-Wilson Holdings by 161.0% in the first quarter. BlackRock Inc. now owns 6,827 shares of the company’s stock worth $150,000 after buying an additional 4,211 shares during the period. Virginia Retirement System purchased a new position in Kennedy-Wilson Holdings during the first quarter worth approximately $311,000. Finally, Skylands Capital LLC raised its position in Kennedy-Wilson Holdings by 39.7% in the second quarter. Skylands Capital LLC now owns 549,800 shares of the company’s stock worth $10,424,000 after buying an additional 156,300 shares during the period. Institutional investors and hedge funds own 79.33% of the company’s stock.
About Kennedy-Wilson Holdings
Kennedy-Wilson Holdings, Inc is a global real estate investment company. The Company owns, operates and invests in real estate. The Company focuses on multifamily and commercial properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy and Japan. The Company also provides real estate services primarily to financial services clients.