Kennedy-Wilson Holdings, Inc. Announces Quarterly Dividend of $0.12 (NYSE:KW)

Kennedy-Wilson Holdings, Inc. (NYSE:KW) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.12 per share by the financial services provider on Thursday, October 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, September 30th.

Kennedy-Wilson has increased its dividend payment by an average of 13.3% annually over the last three years. Kennedy-Wilson has a dividend payout ratio of -88.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Kennedy-Wilson to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 16.1%.

Kennedy-Wilson Price Performance

KW opened at $11.14 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 5.67. The company’s 50-day moving average price is $10.75 and its 200 day moving average price is $9.83. Kennedy-Wilson has a fifty-two week low of $7.85 and a fifty-two week high of $14.98. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -5.65, a price-to-earnings-growth ratio of 0.68 and a beta of 1.11.

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

Wall Street Analyst Weigh In

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

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.