Kennedy-Wilson Holdings Inc (NYSE:KW) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Tuesday, March 31st will be paid a dividend of 0.22 per share by the financial services provider on Tuesday, April 7th. This represents a $0.88 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Monday, March 30th.
Kennedy-Wilson has increased its dividend by an average of 7.9% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Kennedy-Wilson has a payout ratio of -204.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Kennedy-Wilson to earn $1.43 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 61.5%.
Shares of NYSE:KW opened at $20.63 on Friday. Kennedy-Wilson has a 12 month low of $19.85 and a 12 month high of $23.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 4.02. The company’s fifty day simple moving average is $22.15 and its 200 day simple moving average is $22.11. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 30.34 and a beta of 1.14.
Kennedy-Wilson (NYSE:KW) last released its earnings results on Wednesday, February 26th. The financial services provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.80. The business had revenue of $142.30 million during the quarter. Kennedy-Wilson had a net margin of 15.99% and a return on equity of 18.10%. Research analysts expect that Kennedy-Wilson will post 1.98 earnings per share for the current fiscal year.
In other news, Director Cathy Hendrickson sold 10,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $22.22, for a total transaction of $233,310.00. Following the completion of the sale, the director now owns 55,218 shares in the company, valued at approximately $1,226,943.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 14.70% of the company’s stock.
Separately, Bank of America started coverage on shares of Kennedy-Wilson in a research note on Monday, January 27th. They set a “neutral” rating and a $24.00 target price for the company.
Kennedy-Wilson Holdings, Inc is a global real estate investment company, which engages in the ownership, operation, and investment in real estate through its investment platform. It operates through the following business segments: KW Investments, and KW Investment Management and Real Estate Services (IMRES).
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