Kennedy-Wilson Holdings Inc Stock Price, News & Analysis

Kennedy Wilson (NYSE: KW) has surpassed $2 billion in real estate secured loans through its debt investment platform, which includes $300 million in future funding commitments. Launched in 2020, the platform aims for $3 billion in total investments. Since January 2021, approximately $1.4 billion in loans have been originated, with $260 million in repayments. Operating primarily in the Western U.S. and Europe, Kennedy Wilson seeks to fill a lending gap with tailored solutions for strong property sponsors.

Langdon Park Capital, a Black-owned real estate investment firm, has partnered with Eldridge, which acquires a minority stake in the company. This collaboration aims to address the urgent need for quality housing and business facilities in underserved Black and Latino communities across the U.S. Kennedy Wilson (NYSE: KW), a founding investor, will also support this initiative. Eldridge's CEO, Todd Boehly, expressed excitement about the partnership, emphasizing the positive impact on these communities and the potential for attractive financial returns.

Kennedy Wilson Holdings (NYSE: KW) reported a strong performance for Q3 2021, registering a significant net income of $65.9 million compared to a loss of $25.1 million in Q3 2020. Adjusted EBITDA soared to $202.7 million, up from $76.3 million year-over-year. The company announced a 9% increase in quarterly dividends to $0.24 per share, reflecting confidence in continued growth. Assets under management grew by 17% to $20.5 billion, while estimated annual net operating income reached $413 million, boosted by acquisition activities.

Kennedy Wilson announced a 9% increase in its quarterly dividend to $0.24 per share, equating to $0.96 annually. This dividend will be payable to common shareholders of record on December 31, 2021, with a payment date set for January 6, 2022. The increase reflects the company's robust performance in the real estate investment sector, focusing on multifamily and office properties in the Western U.S., UK, and Ireland.

Kennedy Wilson (NYSE: KW) has entered a long-term ground lease for a 32-acre site in Camarillo, California, in partnership with California State University Channel Islands (CSUCI). This project will create a mixed-residential community with a total of 589 units, including 310 market-rate apartments, 109 homes for sale, and 170 income-restricted apartments for seniors. Upon completion, Kennedy Wilson's global development pipeline will exceed 4,700 multifamily units, enhancing its portfolio to over 33,000 units by 2024.

Kennedy Wilson (NYSE: KW) will release its third quarter 2021 financial results on November 3, 2021, after market close. A live conference call is scheduled for November 4, 2021, at 7:00 a.m. PT/ 10:00 a.m. ET to discuss the results. U.S. callers can reach the call at (844) 340-4761, while international callers should dial +1 (412) 717-9616. A replay will be available for one week following the live call. Details for the webcast and replay options can be found on the company's investor relations site.

Kennedy Wilson (NYSE:KW) expands its Seattle portfolio by acquiring two apartment assets: The Bristol at Southport for $191 million and Geo Shoreline for $74 million. The acquisitions add 547 units, with a total investment of $109 million and $158 million in financing at a 3.35% interest rate. Expected initial annual net operating income is approximately $9 million. This growth aligns with Kennedy Wilson's strategy of enhancing its multifamily holdings in high-demand markets.

Kennedy Wilson (NYSE:KW) has acquired Griffis Marston Lake, a 332-unit apartment community in Denver, Colorado, for $134 million. The company invested $62 million of equity and secured a $76 million loan at a fixed rate of 2.7%. This acquisition aligns with Kennedy Wilson's strategy of expanding its multifamily portfolio, which has grown to approximately 32,000 units since the end of 2020. The property is expected to generate $5 million in initial annual net operating income, with plans for a $6 million upgrade.