Kennedy-Wilson Holdings Inc - KW STOCK NEWS

Kennedy Wilson (NYSE: KW) has expanded its European industrial portfolio to 55 assets worth $1.2 billion, representing a 241% growth in total assets under management from $339 million in 2020. The company acquired three industrial properties recently, increasing its stake to 19% in this platform, which totals $440 million in equity. Annual NOI and fees are expected to rise from $12.5 million to $16 million as development projects are completed. The strategic focus on last-mile logistics is benefiting from heightened demand due to the pandemic-driven surge in online sales.

Kennedy Wilson (NYSE: KW) has acquired Forum, a high-quality office campus in the UK, for $81 million. This acquisition adds 252,000 square feet of office space across five buildings on a 30-acre site, strategically located between Southampton and Portsmouth. The campus boasts an 85% occupancy rate and is leased to reputable tenants like HSBC, with a projected yield on cost exceeding 9% after lease-up. The acquisition emphasizes Kennedy Wilson's strategy of investing in cash-flowing assets with growth potential in the UK market.

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.