Kennedy-Wilson Holdings, Inc. (KW) to Issue Quarterly Dividend of $0.12 on October 3rd

Kennedy-Wilson Holdings, Inc. (NYSE:KW) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Shareholders 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 yield of 4.31%. The ex-dividend date is Monday, September 30th.

Kennedy-Wilson has raised its dividend payment by an average of 13.3% per year over the last three years. Kennedy-Wilson has a 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. Equities 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

Shares of KW stock opened at $11.14 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 5.67. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -5.65, a PEG ratio of 0.67 and a beta of 1.11. The firm’s 50 day moving average is $10.75 and its 200-day moving average is $9.82. Kennedy-Wilson has a 1 year low of $7.85 and a 1 year high of $14.98.

Kennedy-Wilson (NYSE:KW) last released its earnings results on Wednesday, August 7th. The financial services provider reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.12. The company had revenue of $132.00 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. Sell-side analysts forecast that Kennedy-Wilson will post 2.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.