Kennedy-Wilson Holdings Inc Stock Price, News & Analysis

Kennedy Wilson (NYSE: KW) has acquired a portfolio of 20 UK urban logistics assets for $287 million, totaling 1.3 million square feet. This acquisition increases the company’s European industrial assets to 98, expanding its assets under management (AUM) to $1.7 billion. The portfolio is 100% occupied with rents below current market rates. Since January 2022, Kennedy Wilson has acquired over 41 industrial assets in the UK, Ireland, and Spain valued at $645 million, indicating strong growth in the logistics sector.

Kennedy Wilson reported strong 1Q-2022 results, achieving a net income of $34.8 million, a significant turnaround from a net loss of $5.6 million in 1Q-2021. Adjusted EBITDA rose to $160.1 million, compared to $127.6 million a year prior. The company secured a $300 million investment from Fairfax Financial, strengthening its capital position, which also includes $3.4 billion in commitments for its debt and logistics platforms. Estimated Annual NOI increased by 6% year-over-year, driven by robust rental growth and new acquisitions.

Kennedy Wilson (NYSE: KW) announced a quarterly dividend of $0.24 per share for common shareholders, with a record date of June 30, 2022 and a payment date of July 7, 2022. This brings the annual dividend to $0.96 per share. The company specializes in owning, operating, and investing in multifamily and office properties primarily located in the Western U.S., U.K., and Ireland.

Kennedy Wilson (NYSE: KW) has acquired three multifamily properties totaling 1,110 units across Las Vegas, Scottsdale, and Albuquerque for $418 million. This acquisition boosts the company's multifamily portfolio to around 37,600 units. Kennedy Wilson invested $255 million in equity for these properties, which are projected to generate approximately $15 million in initial annual net operating income. A $19 million asset management plan will enhance the properties, targeting a blended 15% loss to lease in growing markets.

Kennedy Wilson (NYSE: KW) is set to release its first quarter 2022 financial results on May 4, 2022, after market close. A live conference call will follow on May 5, 2022 at 9:00 a.m. PT / 12:00 p.m. ET. U.S. callers can reach the conference at (844) 340-4761 or international callers at +1 (412) 717-9616. A replay will be available after the call for one week. The webcast will also be accessible for three months on Kennedy Wilson’s investor relations website.

Kennedy Wilson (NYSE: KW) has completed the Ten Hanover Quay office development at Capital Dock, Dublin, signing a new 15-year lease with a global tenant. The property, encompassing 68,300 square feet across seven floors, is projected to yield over 6%. The redevelopment features sustainability credentials, including Gold certifications for LEED, WELL, and WiredScore. Kennedy Wilson, in collaboration with NAMA, transformed the historical site, enhancing its appeal with public amenities and community-focused spaces.

Kennedy Wilson (NYSE: KW) announced a significant expansion of its logistics platform, targeting an additional $1.5 billion in urban logistics properties across the UK, Ireland, and Spain. The company aims to increase its total asset target from $1 billion to $2.5 billion. Over the past 15 months, Kennedy Wilson has acquired over 80 last-mile distribution centers valued at approximately $1.4 billion. This growth is fueled by rising e-commerce demand for last-mile delivery capabilities, positioning Kennedy Wilson favorably for future investments.

Kennedy Wilson (NYSE: KW) has successfully expanded its real estate portfolio, acquiring three apartment communities for a total of $264 million, excluding closing costs. The properties include Central Park Commons in Meridian, Idaho, Paceline in Shoreline, Washington, and AYA ABQ in Albuquerque, New Mexico. With approximately 50% ownership, Kennedy Wilson invested $75 million and anticipates an initial annual net operating income of $11 million, including $6 million for itself. The company plans value-add management strategies, enhancing the properties to meet market demand.

Kennedy-Wilson Holdings (NYSE: KW) reported its Q4 and full-year 2021 results, highlighting a record financial performance. Q4 GAAP net income decreased to $37.5 million ($0.27 per share) from $170 million ($1.21 per share) YoY. However, adjusted EBITDA for FY-21 increased by 53% to $928 million. Total revenue for FY-21 was stable at $453.6 million. The company completed $5.9 billion in investment transactions in FY-21, enhancing estimated annual NOI by $40 million. A $300 million investment from Fairfax Financial is expected to support growth.