Kennedy-Wilson Receives a Buy from BTIG

By George MacDonald

BTIG analyst Mark Palmer reiterated a Buy rating on Kennedy-Wilson (NYSE: KW) today and set a price target of $33. The company’s shares opened today at $18.73.

Palmer noted, “Solid Operating Performance and Lagging Share Price The contrast between Kennedy Wilson Holdings’ (KW, Buy, $33 PT) operating performance and its stock price became even more stark yesterday after the market close when the company released a 4Q15 report that featured a sizeable earnings beat and a 115% year-over-year increase in adjusted EBITDA, which we believe should cause investors to ask, why the stock was down almost 25% YTD as of yesterday’s close.   That discrepancy between KW’s operating and stock performances, combined with the company’s ample liquidity, likely made it an easy decision for management to launch a two-year, $100mm share repurchase program yesterday. KW also announced that it had increased its quarterly dividend to $0.14 from $0.12.   We are reiterating our Buy recommendation on KW and price target of $33 based on our net asset value (NAV) analysis.”

Currently, the analyst consensus on Kennedy-Wilson is Strong Buy and the average price target is $32, representing a 70.8% upside. In a report issued on February 22, JMP Securities also maintained a Buy rating on the stock with a $33 price target.

The company has a one year high of $27.44 and a one year low of $15.74. Currently, Kennedy-Wilson has an average volume of 493.6k.

Like BTIG`s latest rating, based on the recent corporate insider activity of 36 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.

According to, Palmer is ranked 0 out of 5 stars with an average return of -17.2% and a 24.2% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Assured Guaranty Ltd, and istar Financial Inc.

Kennedy-Wilson Holdings Inc is a vertically integrated real estate investment and services company. It acquires, renovates and holds yields or resells commercial and residential real estate, and invests in loan pools and discounted loan portfolios.