Kennedy-Wilson Holdings Inc Stock Price, News & Analysis

Kennedy-Wilson, a global real estate investment firm, plans to offer $500 million in senior notes due 2030. The notes will be senior, unsecured obligations with interest payable semi-annually. Proceeds will be used to redeem around $306.2 million of KWE bonds due 2022 and to repay approximately $189.3 million of a revolving line of credit. The offering follows an effective shelf registration statement with the SEC and is coordinated by major financial firms. No offer or solicitation to buy the notes is made in jurisdictions where it would be unlawful.

Kennedy-Wilson Holdings, Inc. (NYSE: KW) reported impressive 2Q-2021 results, with net income of $215.4 million, a stark contrast to a loss of $42.1 million in the same quarter last year. The company achieved an Adjusted EBITDA of $410.2 million, significantly up from $72.8 million in 2020. Notably, $1.7 billion in investment transactions were completed, driving asset sales gains of $365 million. Fee-bearing capital grew by 10% to $4.5 billion. Additionally, a new $1.5 billion multifamily platform was launched, which solidifies KW’s growth strategy in the market.

Kennedy Wilson (NYSE: KW) has declared a quarterly dividend of $0.22 per share for common shareholders. The record date is set for September 30, 2021, with payments scheduled for October 7, 2021. This dividend reflects an annualized rate of $0.88 per share. The company continues to focus on multifamily and office properties in the Western U.S., U.K., and Ireland, underscoring its commitment to generating shareholder value through consistent dividends.

Kennedy Wilson (NYSE: KW) has expanded its global debt platform to over $3 billion, including a new $700 million investment targeting loans backed by premium real estate in the UK and Europe. The company currently has $1.3 billion of loans deployed and anticipates an ownership interest of 5-10%. Since 2010, Kennedy Wilson has facilitated approximately $7 billion in real estate-related debt investments, with $4.3 billion in Europe. The firm is uniquely positioned to provide debt solutions, leveraging its ownership of over $18 billion in global real estate assets.

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.