BTIG Reiterates a Buy Rating on Kennedy-Wilson

By George MacDonald

According to The Fly, in a report released today, Mark Palmer from BTIG reiterated a Buy rating on Kennedy-Wilson (NYSE: KW), with a price target of $33. The company’s shares closed yesterday at $21.05.

Palmer wrote, “Seize Opportunities Amidst Global Uncertainty Shares of Kennedy Wilson Holdings (KW) have more than recovered from their decline in the aftermath of the “Brexit” vote on June 23 – a bounce that we believe reflects investors’ acknowledgement that the event was more of an opportunity for the company than a threat given its partial ownership of a company (Kennedy Wilson Europe [KWE LN, Not Rated]) with expertise in investing in distressed real estate assets in the UK and throughout Europe – but the stock price remains well below the levels achieved during 2015.”

According to TipRanks.com, Palmer is ranked 0 out of 5 stars with an average return of -7.8% and a 40.3% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Assured Guaranty Ltd, and Synchrony Financial.

Kennedy-Wilson has an analyst consensus of Moderate Buy, with a price target consensus of $31

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Based on Kennedy-Wilson`s latest earnings report from March 31, the company posted quarterly revenue of $172.1M and quarterly net profit of -$6.9M. In comparison, last year the company earned revenue of $140.5M and had a net profit of $31.8M.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KW in relation to earlier this year. Most recently, in September 2012, Kent Mouton, a the General Counsel of KW sold 10,000 shares for a total of $144,500.

Kennedy-Wilson Holdings, Inc. engages in the acquisition, operation, and investment in real estate. It focuses on multifamily and commercial properties located in US, the United Kingdom, Ireland, Spain, Italy, and Japan. It operates through the KW Investments and KW Services segments. The KW Investments invests its capital in real estate-related services. The KW Services segment provides real estate-related services to the firm and its investment partners, third party owners, and lenders. The company was founded in 1977 and is headquartered in Beverly Hills, CA.