Kennedy-Wilson (NYSE:KW) Hits New 1-Year Low – Here’s Why

Shares of Kennedy-Wilson Holdings, Inc. (NYSE:KW) reached a new 52-week low during trading on Thursday . The stock traded as low as $7.92 and last traded at $7.96, with a volume of 446911 shares changing hands. The stock had previously closed at $8.61.

Wall Street Analysts Forecast Growth

KW has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Kennedy-Wilson in a research note on Monday, February 24th. They set a “hold” rating and a $9.00 price objective for the company. StockNews.com upgraded Kennedy-Wilson from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

Kennedy-Wilson Stock Performance

The stock’s fifty day simple moving average is $9.00 and its two-hundred day simple moving average is $10.06. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -2.96, a price-to-earnings-growth ratio of 0.54 and a beta of 1.14. The company has a debt-to-equity ratio of 6.06, a quick ratio of 1.18 and a current ratio of 1.18.

Kennedy-Wilson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 31st were paid a dividend of $0.12 per share. The ex-dividend date was Monday, March 31st. This represents a $0.48 annualized dividend and a yield of 6.28%. Kennedy-Wilson’s dividend payout ratio is currently -85.71%.

Insider Transactions at Kennedy-Wilson

In other news, Director Cathy Hendrickson sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.62, for a total transaction of $258,600.00. Following the completion of the sale, the director now directly owns 98,318 shares in the company, valued at $847,501.16. This trade represents a 23.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley R. Zax bought 41,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average cost of $8.56 per share, for a total transaction of $350,960.00. Following the completion of the transaction, the director now owns 547,400 shares of the company’s stock, valued at approximately $4,685,744. The trade was a 8.10 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 22.73% of the company’s stock.

Hedge Funds Weigh In On Kennedy-Wilson

Several institutional investors and hedge funds have recently made changes to their positions in KW. Two Sigma Advisers LP raised its holdings in Kennedy-Wilson by 75.0% in the fourth quarter. Two Sigma Advisers LP now owns 33,600 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 14,400 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of Kennedy-Wilson in the 4th quarter valued at about $114,000. ProShare Advisors LLC lifted its position in shares of Kennedy-Wilson by 44.3% during the fourth quarter. ProShare Advisors LLC now owns 34,357 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 10,547 shares during the last quarter. Quantinno Capital Management LP grew its stake in Kennedy-Wilson by 75.2% in the fourth quarter. Quantinno Capital Management LP now owns 25,241 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 10,838 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Kennedy-Wilson by 4.9% in the fourth quarter. Millennium Management LLC now owns 842,561 shares of the financial services provider’s stock valued at $8,417,000 after buying an additional 39,702 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Kennedy-Wilson Company Profile

Kennedy-Wilson Holdings, Inc, together with its subsidiaries, operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and office properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.