Kennedy-Wilson (NYSE:KW) Hits New 52-Week High After Dividend Announcement

Key Points

• Kennedy‑Wilson hit a new 52‑week high — shares traded as high as $11.09 (last $11.055) after the company announced a dividend.
• Dividend details: $0.12 per share payable July 9 to holders of record June 11 (ex‑dividend June 11), implying a $0.48 annualized payout and a 4.3% yield.
• Financial and analyst caution: the firm shows a negative DPR (‑165.5%) and P/E (‑38.05) with high leverage (debt‑to‑equity 5.75), and MarketBeat’s average rating is "Reduce" with an $11.00 target despite a Weiss upgrade to "Hold."

Kennedy-Wilson Holdings Inc. (NYSE:KW - Get Free Report) hit a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. 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. Investors of record on Thursday, June 11th will be paid a $0.12 dividend. The ex-dividend date is Thursday, June 11th. This represents a $0.48 annualized dividend and a dividend yield of 4.3%. Kennedy-Wilson's dividend payout ratio (DPR) is -165.52%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Kennedy-Wilson from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average target price of $11.00.

Kennedy-Wilson Trading 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 company has a market cap of $1.54 billion, a price-to-earnings ratio of -38.05 and a beta of 0.88. The business's 50-day simple moving average is $10.89 and its 200-day simple moving average is $10.02.

Hedge Funds Weigh In On Kennedy-Wilson

Institutional investors have recently made changes to their positions in the stock. CWM LLC raised its holdings in shares of Kennedy-Wilson by 98.9% in the third quarter. CWM LLC now owns 4,681 shares of the financial services provider's stock worth $39,000 after acquiring an additional 2,327 shares during the last quarter. State of Wyoming acquired a new position in shares of Kennedy-Wilson in the second quarter worth $58,000. Advisory Services Network LLC acquired a new position in shares of Kennedy-Wilson in the third quarter valued at approximately $71,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Kennedy-Wilson in the fourth quarter valued at approximately $89,000. Finally, Federation des caisses Desjardins du Quebec raised its position in shares of Kennedy-Wilson by 27.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 9,668 shares of the financial services provider's stock valued at $93,000 after buying an additional 2,081 shares during the last quarter. 87.72% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.