Zacks Investment Research upgraded shares of Kennedy-Wilson Holdings Inc. (NYSE:KW) from a hold rating to a strong-buy rating in a research report report published on Wednesday. Zacks Investment Research currently has $26.00 price target 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 brokerages have also recently commented on KW. Deutsche Bank AG reiterated a buy rating on shares of Kennedy-Wilson Holdings in a research note on Tuesday, June 21st. BTIG Research reiterated a buy rating and issued a $33.00 price target on shares of Kennedy-Wilson Holdings in a research note on Tuesday, July 5th. Davy Research reiterated an outperform rating on shares of Kennedy-Wilson Holdings in a research note on Friday, August 5th. Goodbody reiterated a buy rating on shares of Kennedy-Wilson Holdings in a research note on Friday, August 5th. Finally, B. Riley reiterated a buy rating and issued a $31.75 price target on shares of Kennedy-Wilson Holdings in a research note on Tuesday, August 9th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $30.69.
Shares of Kennedy-Wilson Holdings (NYSE:KW) opened at 22.50 on Wednesday. The company has a market capitalization of $2.53 billion, a PE ratio of 77.32 and a beta of 1.45. Kennedy-Wilson Holdings has a 1-year low of $15.74 and a 1-year high of $26.44. The company has a 50 day moving average price of $22.13 and a 200 day moving average price of $21.04.
Kennedy-Wilson Holdings (NYSE:KW) last released its earnings results on Thursday, August 4th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $176.50 million for the quarter, compared to analysts’ expectations of $175.90 million. During the same quarter in the previous year, the company earned $0.29 EPS. Kennedy-Wilson Holdings’s revenue for the quarter was up 25.6% on a year-over-year basis. Equities analysts predict that Kennedy-Wilson Holdings will post ($0.29) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, September 30th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, September 28th. Kennedy-Wilson Holdings’s dividend payout ratio is 186.67%.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Kennedy-Wilson Holdings by 161.0% in the first quarter. BlackRock Inc. now owns 6,827 shares of the company’s stock valued at $150,000 after buying an additional 4,211 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Kennedy-Wilson Holdings by 115.4% in the third quarter. BNP Paribas Arbitrage SA now owns 7,038 shares of the company’s stock valued at $159,000 after buying an additional 3,770 shares in the last quarter. Princeton Alpha Management LP acquired a new stake in shares of Kennedy-Wilson Holdings during the second quarter valued at about $235,000. Ngam Advisors L.P. acquired a new stake in shares of Kennedy-Wilson Holdings during the second quarter valued at about $237,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of 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 valued at $257,000 after buying an additional 2,966 shares in the last quarter. Hedge funds and other institutional investors own 79.33% of the company’s stock.
Kennedy-Wilson Holdings Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kennedy-Wilson Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennedy-Wilson Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.