Kennedy-Wilson (KW) Bonds Drop 1% During Trading

An issue of Kennedy-Wilson Holdings Inc (NYSE:KW) debt fell 1% against its face value during trading on Monday. The high-yield debt issue has a 5.875% coupon and is set to mature on April 1, 2024. The debt is now trading at $100.25 and was trading at $100.25 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

Several brokerages recently weighed in on KW. ValuEngine cut shares of Kennedy-Wilson from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. JMP Securities raised shares of Kennedy-Wilson from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Kennedy-Wilson has an average rating of “Hold” and a consensus price target of $26.75.

Shares of Kennedy-Wilson Holdings Inc (KW) traded down $0.05 during midday trading on Monday, reaching $17.25. 1,131,381 shares of the company traded hands, compared to its average volume of 1,158,393. Kennedy-Wilson Holdings Inc has a twelve month low of $15.95 and a twelve month high of $22.65. The company has a market cap of $2,612.82, a PE ratio of 25.00 and a beta of 1.34. The company has a debt-to-equity ratio of 3.59, a quick ratio of 1.03 and a current ratio of 1.03.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.76 annualized dividend and a dividend yield of 4.41%. Kennedy-Wilson’s dividend payout ratio is currently 110.15%.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Kennedy-Wilson during the 3rd quarter worth approximately $129,000. Ellington Management Group LLC bought a new position in shares of Kennedy-Wilson during the 4th quarter worth approximately $180,000. Wayne Hummer Investments L.L.C. bought a new position in shares of Kennedy-Wilson during the 4th quarter worth approximately $187,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Kennedy-Wilson by 160.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,952 shares of the financial services provider’s stock worth $190,000 after buying an additional 6,740 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Kennedy-Wilson during the 4th quarter worth approximately $201,000. 84.63% of the stock is currently owned by hedge funds and other institutional investors.

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Kennedy-Wilson Company Profile

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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