Morgan Stanley Forecasts Strong Price Appreciation for KE (NYSE:BEKE) Stock

KE (NYSE:BEKE) had its price target raised by Morgan Stanley from $19.00 to $27.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Barclays lifted their price target on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.26.

KE Trading Down 4.3 %

Shares of KE stock opened at $20.63 on Wednesday. The firm has a market capitalization of $24.92 billion, a PE ratio of 42.09, a price-to-earnings-growth ratio of 3.45 and a beta of -0.82. The firm’s 50 day moving average is $19.98 and its 200 day moving average is $19.46. KE has a 1 year low of $12.49 and a 1 year high of $26.05.

KE Increases Dividend

The firm also recently announced a — dividend, which will be paid on Friday, April 25th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.36 per share. This represents a yield of 1.4%. This is a positive change from KE’s previous — dividend of $0.17. The ex-dividend date of this dividend is Wednesday, April 9th. KE’s payout ratio is presently 75.00%.

Institutional Investors Weigh In On KE

A number of institutional investors have recently added to or reduced their stakes in BEKE. Canada Pension Plan Investment Board grew its holdings in KE by 111,822,650.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company’s stock worth $205,978,000 after acquiring an additional 11,182,265 shares during the last quarter. Norges Bank acquired a new position in shares of KE in the 4th quarter worth approximately $130,167,000. Aspex Management HK Ltd acquired a new position in shares of KE in the 4th quarter worth approximately $119,996,000. H Capital V GP L.P. acquired a new position in shares of KE in the 4th quarter worth approximately $91,147,000. Finally, Nuveen Asset Management LLC lifted its position in shares of KE by 504.2% in the 4th quarter. Nuveen Asset Management LLC now owns 5,643,271 shares of the company’s stock worth $103,949,000 after purchasing an additional 4,709,266 shares during the period. 39.34% of the stock is owned by institutional investors.

About KE

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.