Kennedy-Wilson (NYSE:KW) Sees Unusually-High Trading Volume – Here’s What Happened

Kennedy-Wilson Holdings Inc. (NYSE:KW) shares saw unusually-high trading volume on Monday . Approximately 3,192,866 shares traded hands during trading, an increase of 165% from the previous session’s volume of 1,204,705 shares.The stock last traded at $11.0250 and had previously closed at $11.01.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Kennedy-Wilson in a research note on Friday, May 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Kennedy-Wilson has a consensus rating of “Reduce” and a consensus price target of $11.00.

Kennedy-Wilson Trading Up 0.2%

The company has a market cap of $1.54 billion, a price-to-earnings ratio of 100.24 and a beta of 0.87. The business’s fifty day moving average price is $10.95 and its 200 day moving average price is $10.43. The company has a debt-to-equity ratio of 6.26, a current ratio of 0.81 and a quick ratio of 0.81.

Kennedy-Wilson (NYSE:KW) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.25. Kennedy-Wilson had a net margin of 12.08% and a return on equity of 23.82%. The firm had revenue of $117.20 million for the quarter, compared to the consensus estimate of $91.69 million.

Kennedy-Wilson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, June 11th. This represents a $0.48 annualized dividend and a dividend yield of 4.4%. Kennedy-Wilson’s payout ratio is currently 436.36%.

Hedge Funds Weigh In On Kennedy-Wilson

Several large investors have recently bought and sold shares of KW. Dimensional Fund Advisors LP grew its stake in shares of Kennedy-Wilson by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,724,378 shares of the financial services provider’s stock worth $45,686,000 after acquiring an additional 131,145 shares in the last quarter. Mackenzie Financial Corp grew its position in Kennedy-Wilson by 0.7% in the 3rd quarter. Mackenzie Financial Corp now owns 4,438,912 shares of the financial services provider’s stock worth $36,932,000 after purchasing an additional 29,241 shares in the last quarter. Alberta Investment Management Corp increased its stake in Kennedy-Wilson by 44.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,100,322 shares of the financial services provider’s stock valued at $39,650,000 after buying an additional 1,255,245 shares during the last quarter. Geode Capital Management LLC increased its stake in Kennedy-Wilson by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 3,125,167 shares of the financial services provider’s stock valued at $30,224,000 after buying an additional 33,798 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. lifted its position in shares of Kennedy-Wilson by 916.0% during 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. 87.72% of the stock is currently owned by institutional investors.

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.