Kennedy-Wilson Holdings Inc. (KW) Lifted to “Strong-Buy” at 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 research note published on Wednesday morning. The brokerage currently has $26.00 target price 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. “
KW has been the subject of a number of other reports. Goodbody reaffirmed a buy rating on shares of Kennedy-Wilson Holdings in a research report on Friday, August 5th. Deutsche Bank AG reaffirmed a buy rating on shares of Kennedy-Wilson Holdings in a research report on Friday, August 5th. BTIG Research reaffirmed a buy rating and set a $33.00 price objective on shares of Kennedy-Wilson Holdings in a research report on Tuesday, July 5th. B. Riley reaffirmed a buy rating and set a $31.75 price objective on shares of Kennedy-Wilson Holdings in a research report on Tuesday, August 9th. Finally, Davy Research reaffirmed an outperform rating on shares of Kennedy-Wilson Holdings in a research report on Friday, August 5th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $30.69.
Shares of Kennedy-Wilson Holdings (NYSE:KW) opened at 22.225 on Wednesday. The firm’s 50-day moving average is $22.18 and its 200-day moving average is $21.06. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 76.375 and a beta of 1.45. Kennedy-Wilson Holdings has a one year low of $15.74 and a one year high of $26.44.
Kennedy-Wilson Holdings (NYSE:KW) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.02) EPS for the quarter, topping the Zacks’ 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 earned $176.50 million during the quarter, compared to analysts’ expectations of $175.90 million. During the same period in the previous year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. Analysts expect that Kennedy-Wilson Holdings will post ($0.29) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Friday, September 30th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.55%. Kennedy-Wilson Holdings’s payout ratio is presently 186.67%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased 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. BNP Paribas Arbitrage SA increased its position in Kennedy-Wilson Holdings by 115.4% in the third quarter. BNP Paribas Arbitrage SA now owns 7,038 shares of the company’s stock worth $159,000 after buying an additional 3,770 shares during the period. Princeton Alpha Management LP bought a new position in Kennedy-Wilson Holdings during the second quarter worth approximately $235,000. Ngam Advisors L.P. bought a new position in Kennedy-Wilson Holdings during the second quarter worth approximately $237,000. Finally, Teacher Retirement System of Texas increased its position in Kennedy-Wilson Holdings by 28.0% in the second quarter. Teacher Retirement System of Texas now owns 13,543 shares of the company’s stock worth $257,000 after buying an additional 2,966 shares during the period. 79.33% of the stock is owned by institutional investors and hedge funds.
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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