Kennedy-Wilson (NYSE:KW) Upgraded at StockNews.com

StockNews.com upgraded shares of Kennedy-Wilson (NYSE:KW) from a sell rating to a hold rating in a research report report published on Tuesday.

Kennedy-Wilson Price Performance

KW stock opened at $10.01 on Tuesday. The company has a market capitalization of $1.38 billion, a P/E ratio of -5.08 and a beta of 1.10. The company has a debt-to-equity ratio of 5.34, a quick ratio of 1.44 and a current ratio of 1.44. Kennedy-Wilson has a 52-week low of $7.85 and a 52-week high of $17.43. The business has a 50-day simple moving average of $9.77 and a two-hundred day simple moving average of $9.84.

Kennedy-Wilson (NYSE:KW) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.92. The business had revenue of $136.40 million during the quarter. Kennedy-Wilson had a negative return on equity of 7.88% and a negative net margin of 41.31%. Research analysts expect that Kennedy-Wilson will post -0.03 EPS for the current fiscal year.

Kennedy-Wilson Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.48 annualized dividend and a dividend yield of 4.80%. Kennedy-Wilson’s dividend payout ratio is currently -24.37%.

Institutional Investors Weigh In On Kennedy-Wilson

A number of hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its holdings in shares of Kennedy-Wilson by 131.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,215 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,259 shares during the period. Texas Permanent School Fund Corp raised its holdings in Kennedy-Wilson by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 103,185 shares of the financial services provider’s stock valued at $885,000 after acquiring an additional 1,309 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Kennedy-Wilson by 68.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,320 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 1,346 shares during the period. Gladius Capital Management LP raised its holdings in Kennedy-Wilson by 313.0% during the 4th quarter. Gladius Capital Management LP now owns 2,185 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,656 shares during the period. Finally, Versor Investments LP raised its holdings in Kennedy-Wilson by 6.4% during the 4th quarter. Versor Investments LP now owns 28,400 shares of the financial services provider’s stock valued at $352,000 after acquiring an additional 1,700 shares during the period. Institutional investors own 87.72% of the company’s stock.

About Kennedy-Wilson

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