Kennedy-Wilson (NYSE:KW) Hits New 52-Week High After Dividend Announcement

Kennedy-Wilson Holdings Inc. (NYSE:KW) hit a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $11.09 and last traded at $11.0550, with a volume of 468607 shares changing hands. The stock had previously closed at $10.95.

The newly announced dividend which will be paid on Thursday, July 9th. Investors of record on Thursday, June 11th will be paid a $0.12 dividend. The ex-dividend date is Thursday, June 11th. This represents a $0.48 annualized dividend and a dividend yield of 4.3%. Kennedy-Wilson’s dividend payout ratio (DPR) is -165.52%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Kennedy-Wilson from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $11.00.

Kennedy-Wilson Trading Up 0.8%

The company has a debt-to-equity ratio of 5.75, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -38.05 and a beta of 0.88. The business’s 50-day simple moving average is $10.89 and its 200-day simple moving average is $10.02.

Hedge Funds Weigh In On Kennedy-Wilson

Institutional investors have recently made changes to their positions in the stock. CWM LLC raised its holdings in shares of Kennedy-Wilson by 98.9% in the third quarter. CWM LLC now owns 4,681 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 2,327 shares during the last quarter. State of Wyoming acquired a new position in shares of Kennedy-Wilson in the second quarter worth $58,000. Advisory Services Network LLC acquired a new position in shares of Kennedy-Wilson in the third quarter valued at approximately $71,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Kennedy-Wilson in the fourth quarter valued at approximately $89,000. Finally, Federation des caisses Desjardins du Quebec raised its position in shares of Kennedy-Wilson by 27.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 9,668 shares of the financial services provider’s stock valued at $93,000 after buying an additional 2,081 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Kennedy-Wilson Company Profile

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.