Kennedy-Wilson (NYSE:KW) Sees Strong Trading Volume – Here’s Why

Shares of Kennedy-Wilson Holdings Inc. (NYSE:KW) saw unusually-high trading volume on Wednesday . Approximately 3,997,978 shares traded hands during mid-day trading, an increase of 233% from the previous session’s volume of 1,202,395 shares.The stock last traded at $11.0250 and had previously closed at $11.00.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Kennedy-Wilson from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Kennedy-Wilson presently has a consensus rating of “Reduce” and a consensus price target of $11.00.

Kennedy-Wilson Stock Performance

The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 100.24 and a beta of 0.88. The company has a debt-to-equity ratio of 6.26, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average price is $10.91 and its two-hundred day moving average price is $10.22.

Kennedy-Wilson (NYSE:KW) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.25. Kennedy-Wilson had a net margin of 12.08% and a return on equity of 23.82%. The business had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $91.69 million.

Kennedy-Wilson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 11th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Thursday, June 11th. Kennedy-Wilson’s payout ratio is presently 436.36%.

Institutional Trading of Kennedy-Wilson

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in shares of Kennedy-Wilson by 19.5% during the 1st quarter. AQR Capital Management LLC now owns 23,868 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 3,899 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Kennedy-Wilson by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,577 shares of the financial services provider’s stock worth $587,000 after purchasing an additional 2,952 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Kennedy-Wilson in the first quarter worth $92,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Kennedy-Wilson by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 879,644 shares of the financial services provider’s stock valued at $7,635,000 after purchasing an additional 30,176 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Kennedy-Wilson by 756.4% during the first quarter. Jane Street Group LLC now owns 209,553 shares of the financial services provider’s stock valued at $1,819,000 after purchasing an additional 185,083 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

About Kennedy-Wilson

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.