Kennedy-Wilson Holdings Inc Stock Price, News & Analysis

Kennedy Wilson (NYSE: KW) will announce its second quarter 2021 financial results on August 4, 2021, after market close. A conference call is scheduled for August 5, 2021, at 7:00 a.m. PT/10:00 a.m. ET to discuss these results. U.S. callers can join via (844) 340-4761, while international participants can dial +1 (412) 717-9616. A replay will be available for one week, with access numbers provided. Kennedy Wilson specializes in real estate investments, focusing primarily on multifamily and office properties in the U.S., U.K., and Ireland.

Kennedy Wilson (NYSE: KW) is expanding in the Mountain States with a $16 million investment in The Oxbow, a 268-unit community in Bozeman, Montana. This investment secures a 51% ownership stake alongside Roundhouse. Construction is underway, aiming for completion in 2023, and is projected to generate $2.4 million in annual net operating income. This move aligns with Kennedy Wilson's strategy of recycling capital from property dispositions into high-quality multifamily developments in high-growth areas, increasing its Mountain States portfolio to over 10,000 units.

Kennedy Wilson (NYSE: KW) has acquired One Embassy Gardens for $252 million, expected to generate $12 million in annual net operating income. This 156,000-square-foot office building, located in London’s Nine Elms district, is 82% occupied by Penguin Random House and comes with a two-year rental guarantee for the vacant space. The acquisition follows the sale of another asset at £1,600 per square foot, and the new property was bought at £1,140 per square foot, presenting a favorable cap rate of 4.5%.

Kennedy Wilson (NYSE:KW) has established a joint venture with a global institutional investor to acquire and manage multifamily communities in the Western U.S., launching with an $800 million portfolio. Kennedy Wilson sold a 49% interest in nine properties, retaining a 51% stake in the venture, which aims for $700 million in further acquisitions. The transaction generated $254 million in proceeds, primarily to be reinvested into new acquisitions. Kennedy Wilson's multifamily portfolio has grown from 30,000 to approximately 32,000 units, with expectations for further expansion.

Kennedy Wilson (NYSE: KW) has successfully acquired The Capitol Building, a Grade A office campus in Bracknell, for $66.2 million, reflecting a cap rate of 7.7%. The partnership allocated $29 million of equity, with Kennedy Wilson holding a 51% stake. The property is 97% occupied by nine tenants from the tech and business service sectors, offering various amenities that enhance tenant demand. This acquisition marks a strategic move to leverage the growing demand for suburban office spaces in the Thames Valley market.

Kennedy Wilson (NYSE:KW) has acquired three apartment communities totaling 640 units for $143 million and a fully entitled Opportunity Zone site for 240 units in Boise, Idaho. The company has invested $68 million in equity across these properties, maintaining a 95% ownership stake. These investments aim to capitalize on growing population trends in Boise, with an expected addition of $9.4 million in net operating income. Additionally, Kennedy Wilson plans to enhance existing amenities and develop a 240-unit community focusing on sustainability, with estimated construction costs of $60 million.

Kennedy-Wilson Holdings, Inc. (NYSE: KW) reported its 1Q-2021 results, showing a GAAP net loss of $5.6 million, improved from a loss of $9.9 million in 1Q-2020. Adjusted EBITDA increased by 14% to $128 million, with share of gains from real estate sales at $70 million. Fee-bearing capital rose 5% to $4.1 billion, and the U.S. debt platform grew 17%, while European logistics assets saw an 89% increase. The company completed $377 million in property acquisitions, generating significant cash flow from recent dispositions, including a $220 million sale in London.