ProShare Advisors LLC Trims Stake in Kennedy-Wilson Holdings, Inc. (NYSE:KW)

ProShare Advisors LLC cut its stake in Kennedy-Wilson Holdings, Inc. (NYSE:KW) by 15.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 733,595 shares of the financial services provider’s stock after selling 134,473 shares during the quarter. ProShare Advisors LLC owned approximately 0.53% of Kennedy-Wilson worth $7,131,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Elkhorn Partners Limited Partnership increased its holdings in Kennedy-Wilson by 2.9% in the first quarter. Elkhorn Partners Limited Partnership now owns 4,338,723 shares of the financial services provider’s stock valued at $37,226,000 after buying an additional 121,223 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Kennedy-Wilson by 8.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,337,832 shares of the financial services provider’s stock valued at $13,004,000 after acquiring an additional 104,577 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Kennedy-Wilson by 1,238.7% in the 1st quarter. BNP Paribas Financial Markets now owns 704,763 shares of the financial services provider’s stock valued at $6,047,000 after purchasing an additional 652,116 shares in the last quarter. Old West Investment Management LLC raised its holdings in Kennedy-Wilson by 7.9% in the 2nd quarter. Old West Investment Management LLC now owns 692,628 shares of the financial services provider’s stock worth $6,732,000 after purchasing an additional 50,474 shares during the period. Finally, Norges Bank purchased a new position in Kennedy-Wilson during the fourth quarter worth approximately $8,078,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Kennedy-Wilson from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. StockNews.com lowered shares of Kennedy-Wilson from a “hold” rating to a “sell” rating in a report on Monday, September 2nd.

Kennedy-Wilson Trading Up 1.7 %

KW stock opened at $11.15 on Wednesday. The business’s 50-day moving average is $10.72 and its 200 day moving average is $9.78. Kennedy-Wilson Holdings, Inc. has a 12-month low of $7.85 and a 12-month high of $15.28. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -5.66, a PEG ratio of 0.69 and a beta of 1.11. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 5.67.

Kennedy-Wilson (NYSE:KW) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.12. The firm had revenue of $132.00 million during the quarter, compared to analysts’ expectations of $100.66 million. Kennedy-Wilson had a negative return on equity of 13.90% and a negative net margin of 59.78%. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share. On average, sell-side analysts anticipate that Kennedy-Wilson Holdings, Inc. will post 2.88 EPS for the current fiscal year.

Kennedy-Wilson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 30th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Monday, September 30th. Kennedy-Wilson’s dividend payout ratio (DPR) is -24.37%.

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.