PDT Partners LLC Cuts Stake in Kennedy-Wilson Holdings Inc. $KW

Key Points

• PDT Partners LLC reduced its holdings in Kennedy-Wilson Holdings Inc. by 38.3%, selling 72,108 shares and now owning approximately 115,926 shares valued at $1,006,000.
• Other hedge funds have also adjusted their positions, with Price T Rowe Associates increasing its stake by 7.7% and Deutsche Bank AG boosting by 26.6% during the fourth quarter.
• Kennedy-Wilson recently declared a quarterly dividend of $0.12 per share, reflecting an annual yield of 5.6%, despite a negative net margin of 9.11% reported in their latest earnings data.

PDT Partners LLC lowered its holdings in Kennedy-Wilson Holdings Inc. (NYSE:KW - Free Report) by 38.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,926 shares of the financial services provider's stock after selling 72,108 shares during the quarter. PDT Partners LLC owned about 0.07% of Kennedy-Wilson worth $1,006,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sherbrooke Park Advisers LLC acquired a new stake in Kennedy-Wilson in the 4th quarter valued at $114,000. Versor Investments LP bought a new position in Kennedy-Wilson during the 1st quarter valued at $115,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Kennedy-Wilson during the 1st quarter valued at $131,000. Teacher Retirement System of Texas bought a new position in Kennedy-Wilson during the 1st quarter valued at $139,000. Finally, Ethic Inc. bought a new position in Kennedy-Wilson during the 4th quarter valued at $188,000. Institutional investors and hedge funds own 87.72% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Kennedy-Wilson from a "sell" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $9.00.

Kennedy-Wilson Stock Performance

Shares of NYSE KW traded down $0.04 during mid-day trading on Tuesday, reaching $8.79. 175,555 shares of the company's stock were exchanged, compared to its average volume of 871,522. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -13.11, a price-to-earnings-growth ratio of 2.78 and a beta of 1.16. Kennedy-Wilson Holdings Inc. has a 52 week low of $5.98 and a 52 week high of $11.88. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50-day moving average price of $7.83 and a two-hundred day moving average price of $7.52.

Kennedy-Wilson (NYSE:KW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.10. Kennedy-Wilson had a positive return on equity of 12.90% and a negative net margin of 9.11%.The business had revenue of $135.70 million for the quarter, compared to analysts' expectations of $229.98 million. Analysts predict that Kennedy-Wilson Holdings Inc. will post 2.87 EPS for the current year.

Kennedy-Wilson Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.48 annualized dividend and a dividend yield of 5.5%. Kennedy-Wilson's payout ratio is presently -71.64%.

Kennedy-Wilson Profile

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.