Kennedy-Wilson (NYSE:KW) Hits New 12-Month High After Analyst Upgrade

Kennedy-Wilson Holdings, Inc. (NYSE:KW)’s stock price hit a new 52-week high during trading on Tuesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $23.00 to $26.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Kennedy-Wilson traded as high as $22.37 and last traded at $22.34, with a volume of 8613 shares changing hands. The stock had previously closed at $21.98.

KW has been the topic of a number of other reports. Evercore ISI reaffirmed a “buy” rating and set a $24.00 target price on shares of Kennedy-Wilson in a research note on Thursday, July 1st. TheStreet upgraded shares of Kennedy-Wilson from a “c+” rating to a “b-” rating in a research report on Friday, September 24th.

In related news, CEO William J. Mcmorrow purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 10th. The stock was acquired at an average price of $21.10 per share, with a total value of $2,110,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 22.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Advisor Solutions LLC grew its stake in Kennedy-Wilson by 1.8% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 34,340 shares of the financial services provider’s stock valued at $682,000 after acquiring an additional 594 shares in the last quarter. Employees Retirement System of Texas grew its position in Kennedy-Wilson by 0.3% in the second quarter. Employees Retirement System of Texas now owns 194,800 shares of the financial services provider’s stock valued at $3,871,000 after acquiring an additional 600 shares during the period. Stifel Financial Corp grew its holdings in shares of Kennedy-Wilson by 2.7% during the first quarter. Stifel Financial Corp now owns 25,503 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 666 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Kennedy-Wilson by 5.8% during the first quarter. Prudential Financial Inc. now owns 14,741 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 804 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Kennedy-Wilson by 2.7% during the second quarter. LPL Financial LLC now owns 54,634 shares of the financial services provider’s stock worth $1,086,000 after purchasing an additional 1,441 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

The firm has a 50 day moving average price of $21.51 and a 200-day moving average price of $20.61. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 0.79 and a beta of 1.13.

Kennedy-Wilson (NYSE:KW) last posted its quarterly earnings data on Wednesday, August 4th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.59 by ($0.06). The firm had revenue of $108.40 million for the quarter, compared to the consensus estimate of $114.26 million. Kennedy-Wilson had a return on equity of 41.92% and a net margin of 86.79%. The company’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts expect that Kennedy-Wilson Holdings, Inc. will post 2.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 7th. Investors of record on Thursday, September 30th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, September 29th. This represents a $0.88 annualized dividend and a yield of 3.94%. Kennedy-Wilson’s payout ratio is currently 40.37%.

About Kennedy-Wilson (NYSE:KW)

Kennedy-Wilson Holdings, Inc engages in the ownership, operation, development, and investment in real estate properties. It operates through the Consolidated Portfolio and Co-investment Portfolio segments. The Consolidated Portfolio segment includes the investments that the company has made in real estate and real estate-related assets and consolidates on its balance sheet.

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