Short Interest in Kennedy-Wilson Holdings Inc (KW) Declines By 38.2%
Kennedy-Wilson Holdings Inc (NYSE:KW) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 7,815,213 shares, a decline of 38.2% from the October 31st total of 12,649,832 shares. Based on an average daily volume of 2,359,224 shares, the short-interest ratio is presently 3.3 days. Approximately 5.9% of the company’s shares are sold short.
In other news, Director Stanley R. Zax acquired 50,000 shares of the stock in a transaction on Thursday, November 30th. The shares were purchased at an average cost of $19.18 per share, for a total transaction of $959,000.00. Following the transaction, the director now owns 300,300 shares in the company, valued at approximately $5,759,754. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 17.07% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Institutional & Family Asset Management LLC bought a new stake in Kennedy-Wilson in the third quarter worth $292,000. GSA Capital Partners LLP bought a new stake in Kennedy-Wilson in the third quarter worth $206,000. Belpointe Asset Management LLC bought a new stake in Kennedy-Wilson in the third quarter worth $807,000. Neuberger Berman Group LLC boosted its holdings in Kennedy-Wilson by 65.2% in the third quarter. Neuberger Berman Group LLC now owns 80,901 shares of the financial services provider’s stock worth $1,501,000 after purchasing an additional 31,924 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Kennedy-Wilson by 6.0% in the third quarter. California Public Employees Retirement System now owns 147,746 shares of the financial services provider’s stock worth $2,741,000 after purchasing an additional 8,346 shares in the last quarter. Hedge funds and other institutional investors own 66.56% of the company’s stock.
Several equities analysts have recently commented on KW shares. BTIG Research restated a “buy” rating and set a $33.00 price target on shares of Kennedy-Wilson in a report on Tuesday, October 17th. Deutsche Bank restated a “hold” rating and set a $23.00 price target on shares of Kennedy-Wilson in a report on Monday, October 30th. ValuEngine cut shares of Kennedy-Wilson from a “hold” rating to a “sell” rating in a report on Friday. Finally, BidaskClub cut shares of Kennedy-Wilson from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $28.33.
Kennedy-Wilson (NYSE KW) opened at $19.25 on Monday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 2.74 and a current ratio of 2.74. Kennedy-Wilson has a fifty-two week low of $17.95 and a fifty-two week high of $22.65. The company has a market cap of $2,915.30, a price-to-earnings ratio of 45.83, a PEG ratio of 6.88 and a beta of 1.37.
Kennedy-Wilson (NYSE:KW) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.15. The firm had revenue of $277.20 million during the quarter, compared to analysts’ expectations of $177.89 million. Kennedy-Wilson had a net margin of 1.94% and a return on equity of 2.04%. Kennedy-Wilson’s revenue for the quarter was up 59.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share. sell-side analysts predict that Kennedy-Wilson will post 0.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 29th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Kennedy-Wilson’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 3.95%. Kennedy-Wilson’s dividend payout ratio is currently 523.12%.
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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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