Kennedy-Wilson Holdings Inc Stock Price, News & Analysis

Kennedy Wilson (NYSE:KW) and CPP Investments have launched a new joint venture targeting £1 billion in UK single-family rental housing. CPP Investments will commit £500 million for a 90% stake, while Kennedy Wilson commits £56 million for 10% ownership. The JV will focus on energy-efficient, new-build housing in strong local economies, with initial properties in Norwich and Stevenage. Kennedy Wilson has an active pipeline of over £360 million and 1,100 units, with capacity for 4,000 units at full deployment. The venture aims to address UK's rental housing undersupply while providing professionally managed properties.

Kennedy Wilson (NYSE: KW), a global real estate investment company, has announced it will release its third quarter 2024 financial results on Wednesday, November 6, 2024, after market close. The company will host a live conference call and webcast to discuss the results on Thursday, November 7, 2024, at 9:00 a.m. PT / 12:00 p.m. ET.

Investors can join the conference call using the following dial-in numbers:

• U.S. callers: (844) 340-4761
• International callers: +1 (412) 717-9616

A replay of the call will be available for one week, accessible at (877) 344-7529 for U.S. callers and +1 (412) 317-0088 for international callers, using the passcode 3844190. The webcast will be available at a provided link, with a replay accessible on the company's investor relations website for three months.

Kennedy Wilson, a global real estate investment company, has expanded its student housing construction loan portfolio to $850 million with three new university-adjacent real estate financings totaling $184 million. The loans are for projects at the University of Wisconsin – Madison, University of North Texas, and University of California, Berkeley. These projects will develop approximately 8,800 beds, with an additional $1 billion of new student housing loans for 8,200 beds under evaluation.

The company's debt investment platform has originated over $2.3 billion in multifamily and student housing construction loans since acquiring a $4.1 billion construction loan portfolio in Q3 2023. Kennedy Wilson maintains a 2.5% average ownership in loans closed since then and earns customary management fees as asset manager.

Kennedy Wilson (NYSE:KW), a global real estate investment company, has expanded its unsecured revolving credit facility from $500 million to $550 million. The new facility, partnered with 10 banks, has a three-year term with two six-month extension options. Loans under this facility will bear interest at a rate equal to SOFR plus 1.75% to 2.75%. Currently, the facility has outstanding borrowings of approximately $175 million. Bank of America, N.A. will serve as the administrative agent, with BofA Securities, Inc., JPMorgan Chase Bank, N.A., and M&T Bank acting as joint lead arrangers.

The company views this expansion as a strategic move to enhance its financial flexibility and ability to capitalize on emerging opportunities. Kennedy Wilson manages over $27 billion in assets across high-growth markets in the United States, UK, and Ireland.

Kennedy Wilson (NYSE: KW) reported Q2 2024 results, showing mixed performance. Key highlights include:

- GAAP Net Loss to Common Shareholders of $59.1 million, compared to $39.0 million income in Q2 2023

- Adjusted EBITDA of $79.3 million, down from $195.1 million in Q2 2023

- Investment Management fees grew 37% to $26 million

- Fee-Bearing Capital increased to a record $8.7 billion, up 4% year-to-date

- Completed $235 million in gross acquisitions and $49 million in gross dispositions

- Multifamily Same Property NOI grew 2.8% year-over-year

- Repurchased 1.7 million shares at average price of $8.70 in 2024

The company stabilized five multifamily properties, adding $16 million in Estimated Annual NOI. Kennedy Wilson's debt investment platform grew to $8.0 billion, with $949 million in new originations in Q2.

Kennedy Wilson (NYSE: KW), a global real estate investment company, has announced a dividend of $0.12 per share for the third quarter of 2024. This translates to an annual dividend of $0.48 per share. The dividend will be paid on October 3, 2024, to common shareholders of record as of September 30, 2024.

Kennedy Wilson manages over $27 billion in assets across high-growth markets in the United States, UK, and Ireland. Since going public in 2009, the company has completed more than $50 billion in total transactions across various property types. Kennedy Wilson's core business involves owning, operating, and developing real estate, as well as managing investments through its investment management platform.

Kennedy Wilson (NYSE:KW), a global real estate investment company, has released its 2023 Environmental, Social, and Governance (ESG) Report. The report, now in its sixth iteration, highlights the company's efforts to strengthen its ESG program and deliver long-term value across its portfolio and to stakeholders.

Key points from the report include:

• Recognition in Newsweek's Excellence 1000 Index for commitment to business growth and social responsibility
• Focus on strengthening ESG infrastructure and reducing environmental footprint
• Initiatives aimed at reducing operational costs, managing climate risk, and lowering carbon footprint

The digital ESG Report is available at esg.kennedywilson.com, with a downloadable PDF version also accessible.

Kennedy Wilson (NYSE: KW), a global real estate investment company, will announce its financial results for the second quarter of 2024 on August 7, 2024, after the market closes.

The company will also hold a conference call and webcast to discuss these results on August 8, 2024, at 9:00 a.m. PT / 12:00 p.m. ET.

U.S. participants can join the call by dialing (844) 340-4761, while international callers can use +1 (412) 717-9616. A replay will be available for a week at (877) 344-7529 for U.S. and +1 (412) 317-0088 for international callers, using passcode 5795146. The webcast and its replay will also be accessible via the company's investor relations website.

Kennedy Wilson (NYSE: KW) and its partner have acquired the Heathrow Estate, a 300,000 square foot industrial property in West London, for $111 million. The property, located in a prime distribution area, is 84% leased to diverse tenants like Asendia and Tailsco. The acquisition expands Kennedy Wilson’s global industrial platform to over 12 million square feet and $2.1 billion in assets under management (AUM). In the UK alone, the company manages about 9 million square feet of industrial space with a 98% occupancy rate. The acquisition was funded with equity and a $73 million loan, with Kennedy Wilson holding a 10% ownership interest and earning fees for asset management.