Kennedy-Wilson Holdings Inc. (NYSE:KW) Short Interest Down 22.7% in February

Kennedy-Wilson Holdings Inc. (NYSE:KW) saw a large decline in short interest in February. As of February 27th, there was short interest totaling 2,927,693 shares, a decline of 22.7% from the February 12th total of 3,786,502 shares. Based on an average daily volume of 3,428,874 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.7% of the shares of the company are short sold. Currently, 2.7% of the shares of the company are short sold. Based on an average daily volume of 3,428,874 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

KW has been the subject of several recent analyst reports. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $11.00 price target on shares of Kennedy-Wilson in a report on Thursday, December 18th. Weiss Ratings upgraded Kennedy-Wilson from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Finally, Wall Street Zen downgraded Kennedy-Wilson from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $11.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KW. Sumitomo Mitsui Financial Group Inc. boosted its position in shares of Kennedy-Wilson by 916.0% in the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 2,765,866 shares of the financial services provider’s stock worth $21,601,000 after buying an additional 2,493,628 shares in the last quarter. Vision Capital Corp purchased a new position in Kennedy-Wilson during the 4th quarter valued at about $12,661,000. Evergreen Capital Management LLC raised its position in Kennedy-Wilson by 8,688.3% during the second quarter. Evergreen Capital Management LLC now owns 1,306,474 shares of the financial services provider’s stock worth $9,039,000 after acquiring an additional 1,291,608 shares during the last quarter. Alberta Investment Management Corp raised its position in Kennedy-Wilson by 44.1% during the fourth quarter. Alberta Investment Management Corp now owns 4,100,322 shares of the financial services provider’s stock worth $39,650,000 after acquiring an additional 1,255,245 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Kennedy-Wilson in the fourth quarter valued at about $8,961,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Kennedy-Wilson Price Performance

Shares of KW stock traded down $0.01 during midday trading on Friday, reaching $10.86. 1,341,709 shares of the company traded hands, compared to its average volume of 2,461,947. The firm’s 50 day simple moving average is $10.25 and its two-hundred day simple moving average is $9.39. The firm has a market cap of $1.50 billion, a PE ratio of -37.46 and a beta of 0.98. The company has a debt-to-equity ratio of 5.75, a current ratio of 0.79 and a quick ratio of 0.79. Kennedy-Wilson has a 1-year low of $5.98 and a 1-year high of $10.99.

Kennedy-Wilson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, March 31st. Kennedy-Wilson’s payout ratio is presently -165.52%.

About Kennedy-Wilson

Kennedy-Wilson Holdings, Inc is a publicly traded global real estate investment company that acquires, develops and manages a diversified portfolio of properties. Its core activities include investing in office, multifamily, retail, industrial and self-storage assets while providing comprehensive property management, leasing, capital markets and investment management services to institutional and private clients.

Headquartered in Beverly Hills, California, Kennedy-Wilson operates through two principal business segments: Investments and Asset Services.