Kennedy-Wilson Holdings’ (NYSE:KW) Buy Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Kennedy-Wilson Holdings Inc. (NYSE:KW) in a research report released on Tuesday, October 17th. BTIG Research currently has a $33.00 price objective on the financial services provider’s stock.

“There’s One Less Reason Not to Buy Inexpensive KW We suspect that some investors have been holding off on buying shares of Kennedy Wilson Holdings (KW) until after shareholders of the company and of Kennedy Wilson Europe (KWE, Not Rated) voted to approve the former’s acquisition of the latter, perhaps because KW’s initial offer for KWE met with resistance among some hedge funds.”,” BTIG Research’s analyst wrote.

Separately, BidaskClub cut Kennedy-Wilson Holdings from a sell rating to a strong sell rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $28.33.

Kennedy-Wilson Holdings (KW) traded down $0.12 during trading on Tuesday, reaching $19.13. 819,919 shares of the company traded hands, compared to its average volume of 1,834,270. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 2.33. Kennedy-Wilson Holdings has a twelve month low of $17.95 and a twelve month high of $23.00. The company has a market cap of $2,198.70, a price-to-earnings ratio of 45.83 and a beta of 1.40.

Kennedy-Wilson Holdings (NYSE:KW) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.15. Kennedy-Wilson Holdings had a return on equity of 2.05% and a net margin of 1.94%. The company had revenue of $277.20 million for the quarter, compared to analysts’ expectations of $177.89 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The firm’s revenue was up 59.0% compared to the same quarter last year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 29th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.97%. This is a positive change from Kennedy-Wilson Holdings’s previous quarterly dividend of $0.17. Kennedy-Wilson Holdings’s dividend payout ratio is currently 523.12%.

Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Kennedy-Wilson Holdings during the first quarter worth $158,000. Prudential Financial Inc. purchased a new stake in shares of Kennedy-Wilson Holdings during the first quarter worth $215,000. Karp Capital Management Corp purchased a new stake in shares of Kennedy-Wilson Holdings during the first quarter worth $227,000. Amalgamated Bank increased its position in shares of Kennedy-Wilson Holdings by 3.7% during the second quarter. Amalgamated Bank now owns 10,612 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 377 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Kennedy-Wilson Holdings by 2.5% during the second quarter. Principal Financial Group Inc. now owns 10,946 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 272 shares during the period. 85.05% of the stock is currently owned by institutional investors and hedge funds.

About Kennedy-Wilson Holdings

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

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