CenterBook Partners LP Decreases Stock Position in Kennedy-Wilson Holdings Inc. (NYSE:KW)

Key Points

• CenterBook Partners LP reduced its stake in Kennedy-Wilson Holdings by 32.1% during the first quarter, now holding 82,191 shares worth $713,000 after selling 38,781 shares.
• Kennedy-Wilson recently announced a quarterly dividend of $0.12 per share, yielding approximately 6.5% annually, with a payout ratio of -71.64%.
• The stock opened at $7.44 and has a market capitalization of $1.03 billion, with a 12-month low of $5.98 and a high of $11.88.

CenterBook Partners LP lessened its position in Kennedy-Wilson Holdings Inc. (NYSE:KW - Free Report) by 32.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,191 shares of the financial services provider's stock after selling 38,781 shares during the quarter. CenterBook Partners LP's holdings in Kennedy-Wilson were worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in KW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Kennedy-Wilson by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,625 shares of the financial services provider's stock worth $646,000 after purchasing an additional 2,054 shares during the period. Legal & General Group Plc boosted its holdings in shares of Kennedy-Wilson by 0.3% during the fourth quarter. Legal & General Group Plc now owns 727,693 shares of the financial services provider's stock worth $7,270,000 after purchasing an additional 2,105 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Kennedy-Wilson by 822.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,643 shares of the financial services provider's stock worth $36,000 after purchasing an additional 3,248 shares during the period. Belpointe Asset Management LLC boosted its holdings in shares of Kennedy-Wilson by 10.2% during the fourth quarter. Belpointe Asset Management LLC now owns 35,056 shares of the financial services provider's stock worth $350,000 after purchasing an additional 3,250 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in shares of Kennedy-Wilson by 12.3% during the first quarter. New York State Teachers Retirement System now owns 30,100 shares of the financial services provider's stock worth $261,000 after purchasing an additional 3,300 shares during the period. Institutional investors own 87.72% of the company's stock.

Insider Activity

In other Kennedy-Wilson news, CEO William J. Mcmorrow bought 200,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was purchased at an average cost of $6.36 per share, for a total transaction of $1,272,000.00. Following the completion of the acquisition, the chief executive officer owned 8,049,517 shares of the company's stock, valued at approximately $51,194,928.12. This trade represents a 2.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 22.73% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Kennedy-Wilson from a "sell" rating to a "buy" rating in a report on Saturday.

Kennedy-Wilson Stock Up 0.3%

KW traded up $0.03 on Tuesday, hitting $7.64. The company had a trading volume of 210,901 shares, compared to its average volume of 887,364. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.97 and a quick ratio of 0.97. Kennedy-Wilson Holdings Inc. has a 52-week low of $5.98 and a 52-week high of $11.88. The stock has a fifty day simple moving average of $7.12 and a 200-day simple moving average of $7.60. The firm has a market capitalization of $1.05 billion, a P/E ratio of -11.40, a P/E/G ratio of 26.55 and a beta of 1.10.

Kennedy-Wilson (NYSE:KW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.07 by $0.10. Kennedy-Wilson had a negative net margin of 9.11% and a positive return on equity of 12.90%. The business had revenue of $135.70 million during the quarter, compared to analyst estimates of $229.98 million. As a group, equities analysts expect that Kennedy-Wilson Holdings Inc. will post 2.87 EPS for the current fiscal year.

Kennedy-Wilson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Tuesday, September 30th. Kennedy-Wilson's dividend payout ratio (DPR) is presently -71.64%.

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.