Kennedy-Wilson Holdings Inc - KW STOCK NEWS

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.

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.