Welcome to our dedicated page for Kennedy-Wilson Holdings news (Ticker: KW), a resource for investors and traders seeking the latest updates and insights on Kennedy-Wilson Holdings stock.
Kennedy-Wilson Holdings, Inc. reports news as a global real estate investment company that owns, operates and builds properties and invests through an investment management platform. Updates commonly address operating results, portfolio performance, capital allocation, common-stock dividends, debt redemptions and real estate transactions across multifamily, office, industrial, retail, hotel and loan investment assets.
The company’s developments also include co-investment activity with third-party partners, performance and fee-bearing capital topics, development and lease-up portfolios, and governance or shareholder-voting matters. Recent corporate activity has included the completed acquisition of the Toll Brothers Apartment Living platform and related development interests, alongside reporting on U.S., UK and Ireland real estate markets.
Langdon Park Capital has acquired a 138-unit multifamily property in West Covina, California, for $48.6 million. This marks LPC's fourth acquisition in 2022, emphasizing its commitment to providing workforce housing in underserved Black and Latino communities. The firm plans to invest over $3 million in capital improvements for the property, which will be rebranded as Langdon Park at West Covina. LPC's assets under management now exceed $148 million. The acquisition addresses rising housing demands amid economic challenges.
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Kennedy-Wilson Holdings (NYSE: KW) reported Q2-2022 results, highlighting a 12% growth in same-property revenue and strong recurring cash flow. However, GAAP net loss was $9 million, compared to a profit of $215.4 million in the same quarter last year. Total revenue reached $136.1 million, up from $108.4 million YoY. The company secured $1.7 billion in investment transactions and aims to enhance its multifamily portfolio. Estimated Annual NOI grew 19% YoY to $479 million. Cash and line of credit availability stood at $711 million as of June 30, 2022.
Kennedy Wilson (NYSE: KW) announced a quarterly dividend of $0.24 per share, payable on October 6, 2022, to shareholders registered as of September 30, 2022. This dividend represents an annual yield of $0.96 per share. The company operates primarily in real estate investment, focusing on multifamily and office properties in the Western U.S., U.K., and Ireland. This dividend payment reflects the company's ongoing commitment to returning value to its shareholders.
Intercontinental Real Estate Corporation, in joint venture with Kennedy Wilson (NYSE:KW), has acquired Stockton Industrial Park, a manufacturing and distribution facility in Stockton, CA, for $84 million. The facility spans 877,648 square feet and is strategically located in California’s Central Valley, benefiting from robust e-commerce expansion. This acquisition marks the first investment for the joint venture and the 35th for Intercontinental, increasing its holdings to over 11 million square feet of industrial space.
Kennedy Wilson (NYSE: KW) will release its second quarter 2022 financial results on August 3, 2022, after market close. A conference call will follow on August 4, 2022, at 9:00 a.m. PT / 12:00 p.m. ET. This call will allow investors to discuss the results directly with the company. For participation, U.S. callers can dial (844) 340-4761, while international callers can reach +1 (412) 717-9616. A replay will be available for one week after the call.
Langdon Park Capital (LPC) has surpassed $100 million in assets under management with the acquisition of two multifamily properties worth $36.9 million in Los Angeles. The acquisitions include a 177-unit complex in Hollywood and a 23-unit building in Baldwin Village, both aimed at enhancing housing affordability for historically underserved Black and Latino communities. LPC plans to implement significant capital improvements and strategic property management to foster community engagement and improve tenants' experiences.
Langdon Park Capital (LPC) has acquired a 304-unit apartment complex in Fort Washington, Maryland, for $63.2 million. This move aims to address the demand for affordable housing in underserved Black and Latino communities. LPC plans to invest over $5 million in capital improvements, enhancing the property and its services. Additionally, Julia Stevenson joins LPC as the Mid-Atlantic Director, focusing on regional expansion. The company emphasizes its mission of creating sustainable communities while generating returns for investors.
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.