Kennedy-Wilson (NYSE:KW) Hits New 1-Year Low After Earnings Miss

Kennedy-Wilson Holdings, Inc. (NYSE:KW)’s stock price hit a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $6.13 and last traded at $6.23, with a volume of 496747 shares traded. The stock had previously closed at $6.61.

The financial services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $128.30 million during the quarter, compared to the consensus estimate of $227.14 million. Kennedy-Wilson had a negative net margin of 58.56% and a negative return on equity of 14.09%.

Kennedy-Wilson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 30th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 7.79%. The ex-dividend date is Monday, June 30th. Kennedy-Wilson’s dividend payout ratio is currently -85.71%.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Kennedy-Wilson in a research report on Monday, February 24th. They set a “hold” rating and a $9.00 target price for the company.

Insiders Place Their Bets

In related news, Director Cathy Hendrickson sold 30,000 shares of Kennedy-Wilson stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.62, for a total transaction of $258,600.00. Following the sale, the director now directly owns 98,318 shares of the company’s stock, valued at $847,501.16. This trade represents a 23.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stanley R. Zax purchased 41,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was purchased at an average cost of $8.56 per share, with a total value of $350,960.00. Following the acquisition, the director now owns 547,400 shares in the company, valued at approximately $4,685,744. This represents a 8.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 22.73% of the company’s stock.

Institutional Investors Weigh In On Kennedy-Wilson

A number of institutional investors have recently bought and sold shares of KW. Harbor Capital Advisors Inc. lifted its holdings in shares of Kennedy-Wilson by 22.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 751,055 shares of the financial services provider’s stock worth $7,503,000 after acquiring an additional 135,559 shares during the period. JPMorgan Chase & Co. lifted its stake in Kennedy-Wilson by 183.5% during the third quarter. JPMorgan Chase & Co. now owns 296,282 shares of the financial services provider’s stock worth $3,274,000 after purchasing an additional 191,790 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Kennedy-Wilson by 181.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,823 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 3,755 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Kennedy-Wilson in the 4th quarter valued at approximately $151,000. Finally, Barclays PLC raised its holdings in shares of Kennedy-Wilson by 265.2% in the 3rd quarter. Barclays PLC now owns 192,837 shares of the financial services provider’s stock worth $2,130,000 after buying an additional 140,039 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Kennedy-Wilson Stock Performance

The stock has a fifty day moving average price of $7.66 and a 200-day moving average price of $9.26. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.06. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.39, a PEG ratio of 0.54 and a beta of 1.07.

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.