Kennedy-Wilson Holdings Inc. (KW) Upgraded to Strong-Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Kennedy-Wilson Holdings Inc. (NYSE:KW) from a hold rating to a strong-buy rating in a report released on Wednesday. They currently have $26.00 price objective on the stock.
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. “
Several other equities research analysts also recently issued reports on KW. Deutsche Bank AG restated a buy rating on shares of Kennedy-Wilson Holdings in a research report on Tuesday, June 21st. BTIG Research restated a buy rating and set a $33.00 target price on shares of Kennedy-Wilson Holdings in a research report on Tuesday, July 5th. Davy Research restated an outperform rating on shares of Kennedy-Wilson Holdings in a research report on Friday, August 5th. Goodbody reiterated a buy rating on shares of Kennedy-Wilson Holdings in a research report on Friday, August 5th. Finally, B. Riley reiterated a buy rating and issued a $31.75 price objective on shares of Kennedy-Wilson Holdings in a research report on Tuesday, August 9th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $30.69.
Shares of Kennedy-Wilson Holdings (NYSE:KW) opened at 22.50 on Wednesday. Kennedy-Wilson Holdings has a 12 month low of $15.74 and a 12 month high of $26.44. The company’s 50-day moving average price is $22.13 and its 200-day moving average price is $21.04. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 77.32 and a beta of 1.45.
Kennedy-Wilson Holdings (NYSE:KW) last posted its earnings results on Thursday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.11. The firm had revenue of $176.50 million for the quarter, compared to the consensus estimate of $175.90 million. Kennedy-Wilson Holdings had a return on equity of 3.65% and a net margin of 5.15%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 earnings per share. Analysts anticipate that Kennedy-Wilson Holdings will post ($0.29) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.49%. Kennedy-Wilson Holdings’s dividend payout ratio (DPR) is currently 186.67%.
Several hedge funds and other institutional investors have recently made changes to their positions in KW. Mackenzie Financial Corp boosted its position in shares of Kennedy-Wilson Holdings by 0.9% in the second quarter. Mackenzie Financial Corp now owns 65,800 shares of the company’s stock worth $1,248,000 after buying an additional 600 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Kennedy-Wilson Holdings by 3.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,905 shares of the company’s stock valued at $458,000 after buying an additional 650 shares during the last quarter. Diversified Trust Co boosted its stake in Kennedy-Wilson Holdings by 4.1% in the second quarter. Diversified Trust Co now owns 31,243 shares of the company’s stock valued at $592,000 after buying an additional 1,223 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Kennedy-Wilson Holdings by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 392,638 shares of the company’s stock valued at $7,445,000 after buying an additional 2,481 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in Kennedy-Wilson Holdings by 24.7% in the second quarter. Stifel Financial Corp now owns 13,710 shares of the company’s stock valued at $260,000 after buying an additional 2,717 shares during the last quarter. 79.33% of the stock is currently owned by hedge funds and other institutional investors.
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.
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