Kennedy-Wilson (NYSE:KW) Hits New 52-Week High After Dividend Announcement
by Scott Moore · The Cerbat GemKennedy-Wilson Holdings Inc. (NYSE:KW – Get Free Report)’s share price hit a new 52-week high during trading on Thursday after the company announced a dividend. 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. Stockholders of record on Thursday, June 11th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, June 11th. Kennedy-Wilson’s payout ratio is currently -165.52%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded Kennedy-Wilson from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $11.00.
Check Out Our Latest Report on Kennedy-Wilson
Kennedy-Wilson Stock 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 firm’s 50-day moving average is $10.89 and its 200 day moving average is $10.02. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -38.05 and a beta of 0.88.
Institutional Investors Weigh In On Kennedy-Wilson
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Kennedy-Wilson by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,724,378 shares of the financial services provider’s stock worth $45,686,000 after acquiring an additional 131,145 shares during the last quarter. Mackenzie Financial Corp increased its stake in Kennedy-Wilson by 0.7% during the third quarter. Mackenzie Financial Corp now owns 4,438,912 shares of the financial services provider’s stock worth $36,932,000 after acquiring an additional 29,241 shares during the last quarter. Alberta Investment Management Corp increased its stake in Kennedy-Wilson by 44.1% during the fourth quarter. Alberta Investment Management Corp now owns 4,100,322 shares of the financial services provider’s stock worth $39,650,000 after acquiring an additional 1,255,245 shares during the last quarter. Geode Capital Management LLC increased its stake in Kennedy-Wilson by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 3,125,167 shares of the financial services provider’s stock worth $30,224,000 after acquiring an additional 33,798 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. increased its stake in Kennedy-Wilson by 916.0% during the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 2,765,866 shares of the financial services provider’s stock worth $21,601,000 after acquiring an additional 2,493,628 shares during the last quarter. 87.72% of the stock is currently 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.