Kennedy-Wilson (NYSE:KW) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of Kennedy-Wilson (NYSE:KW) from a hold rating to a sell rating in a research note published on Monday morning.

Separately, JPMorgan Chase & Co. increased their target price on Kennedy-Wilson from $12.00 to $13.00 and gave the company a neutral rating in a report on Thursday, August 8th.

Kennedy-Wilson Price Performance

KW stock opened at $11.04 on Monday. The stock’s 50 day moving average price is $10.42 and its 200 day moving average price is $9.58. The firm has a market cap of $1.52 billion, a P/E ratio of -5.60, a PEG ratio of 0.68 and a beta of 1.11. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.16 and a current ratio of 1.16. Kennedy-Wilson has a 1 year low of $7.85 and a 1 year high of $16.63.

Kennedy-Wilson (NYSE:KW) last announced its earnings results on Wednesday, August 7th. The financial services provider reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.12. The firm had revenue of $132.00 million for the quarter, compared to analysts’ expectations of $100.66 million. Kennedy-Wilson had a negative return on equity of 13.90% and a negative net margin of 59.78%. Kennedy-Wilson’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, sell-side analysts expect that Kennedy-Wilson will post 2.88 earnings per share for the current fiscal year.

Kennedy-Wilson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Monday, September 30th. Kennedy-Wilson’s dividend payout ratio is currently -24.37%.

Hedge Funds Weigh In On Kennedy-Wilson

Hedge funds and other institutional investors have recently made changes to their positions in the business. Simplex Trading LLC purchased a new stake in shares of Kennedy-Wilson during the 4th quarter valued at about $34,000. Van ECK Associates Corp lifted its position in shares of Kennedy-Wilson by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 16,773 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 2,758 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Kennedy-Wilson by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,607,615 shares of the financial services provider’s stock worth $19,902,000 after purchasing an additional 70,978 shares in the last quarter. Gladius Capital Management LP boosted its stake in shares of Kennedy-Wilson by 313.0% in the fourth quarter. Gladius Capital Management LP now owns 2,185 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,656 shares during the period. Finally, Versor Investments LP grew 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 purchasing an additional 1,700 shares in the last quarter. Institutional investors and hedge funds 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.