Kennedy-Wilson Holdings, Inc. (NYSE: KW – Get a rating) was the target of a significant drop in short interest during the month of August. As of August 31, there was short interest totaling 2,110,000 shares, a decline of 15.3% from the total of 2,490,000 shares as of August 15. Approximately 1.8% of the company’s shares are sold short. Based on an average daily volume of 495,900 shares, the short interest ratio is currently 4.3 days.
Changes to analyst ratings
Separately, StockNews.com upgraded Kennedy-Wilson from a “sell” rating to a “hold” rating in a Tuesday, September 13 report.
Insiders place their bets
In other Kennedy-Wilson news, Chairman Mary Ricks sold 62,357 shares of the company in a trade on Wednesday, August 24. The stock was sold at an average price of $19.05, for a total value of $1,187,900.85. Following the transaction, the president now owns 2,031,929 shares of the company, valued at $38,708,247.45. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC website. Separately, Chairman Mary Ricks sold 62,357 shares of the company in a trade on Wednesday, August 24. The stock was sold at an average price of $19.05, for a total transaction of $1,187,900.85. Following the sale, the president now directly owns 2,031,929 shares of the company, valued at approximately $38,708,247.45. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Also, director Stanley R. Zax acquired 35,000 shares of the company in a transaction that took place on Friday, August 26. The shares were purchased at an average price of $18.15 per share, for a total transaction of $635,250.00. Following the completion of the purchase, the administrator now owns 458,800 shares of the company, valued at approximately $8,327,220. Disclosure of this purchase can be found here. Insiders hold 21.80% of the shares of the company.
Institutional investors weigh in on Kennedy-Wilson
Several institutional investors have recently bought and sold shares of the stock. Allworth Financial LP bought a new stake in Kennedy-Wilson in Q1 worth around $25,000. Federated Hermes Inc. bought a new position in Kennedy-Wilson stock in Q2 worth about $33,000. Steward Partners Investment Advisory LLC raised its position in Kennedy-Wilson shares by 47.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,466 shares of the financial services provider worth $36,000 after acquiring 473 additional shares in the last quarter. Fieldpoint Private Securities LLC increased its position in Kennedy-Wilson shares by 162.6% in the first quarter. Fieldpoint Private Securities LLC now owns 1,594 shares of the financial services provider worth $39,000 after acquiring 987 additional shares in the last quarter. Finally, Hanson & Doremus Investment Management bought a new position in Kennedy-Wilson stock in Q1 worth about $60,000. 80.12% of the shares are currently held by hedge funds and other institutional investors.
Kennedy-Wilson trades down 0.9%
KW stock traded down $0.16 during Friday’s trading, hitting $17.64. 1,645,661 shares of the company were traded, with an average volume of 501,115. The company has a market capitalization of $2.43 billion, a PE ratio of 19.38, a P/E/G ratio of 4 .27 and a beta of 1.13. Kennedy-Wilson has a 1-year low of $17.26 and a 1-year high of $25.30. The company has a 50-day moving average of $19.16 and a 200-day moving average of $20.84. The company has a debt ratio of 4.09, a quick ratio of 1.05 and a current ratio of 1.05.
Kennedy-Wilson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 6. Investors of record on Friday, September 30 will receive a dividend of $0.24 per share. This represents an annualized dividend of $0.96 and a yield of 5.44%. The ex-dividend date is Thursday, September 29. The Kennedy-Wilson dividend payout ratio is currently 105.50%.
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 multi-family and office properties located in the western United States, United Kingdom, Ireland, Spain, Italy and Japan.
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