Kennedy-Wilson Holdings Inc

KW

Equity

ISIN US4893981070 / Valor 10751367

New York Stock Exchange, Inc (2024-12-24)

USD 10.26+1.68%

Kennedy-Wilson Holdings Inc
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About company

Kennedy-Wilson Holdings Inc is a global real estate investment company headquartered in Beverly Hills, CA, with offices in the U.S. and Europe. The company primarily focuses on multifamily and office properties, industrial investments, and debt investments through its investment management platform. Kennedy Wilson has completed over $18 billion in acquisitions since going public, with a global multifamily portfolio exceeding 26,000 units. The company has expanded its presence in key markets across the U.S. and Europe through strategic acquisitions, including the establishment of Kennedy Wilson Europe and the acquisition of a $5.7 billion loan portfolio from Pacific Western Bank. Kennedy Wilson's investment management business has surpassed $5 billion in fee-bearing capital, driven by the recent launch and expansion of global debt and European logistics platforms.

Summarized from source with an LLMView SourceSector: Finance

Net Loss

Kennedy-Wilson Holdings Inc. reported a GAAP net loss to common shareholders of $59.1 million for the second quarter of 2024, compared to a net income of $39.0 million in the same quarter of 2023. This translates to a loss of $0.43 per diluted share for Q2-2024, down from an income of $0.28 per diluted share in Q2-2023.

Adjusted EBITDA

For the second quarter of 2024, Kennedy-Wilson Holdings Inc. achieved an adjusted EBITDA of $79.3 million, a significant decrease from $195.1 million in the same period of the previous year. Year-to-date, the adjusted EBITDA stands at $282.5 million, slightly down from $286.0 million in 2023.

Investment Management Fees

Kennedy-Wilson Holdings Inc. saw a 37% increase in investment management fees for Q2-2024, reaching $26 million compared to the same quarter in 2023. This growth is attributed to record new originations from the company's debt investment platform and higher levels of recurring base management fees.

Asset Stabilizations

During Q2-2024, Kennedy-Wilson Holdings Inc. stabilized five multifamily properties totaling 1,436 units, adding $16 million to the estimated annual net operating income (NOI). The properties include Coopers Cross and Grange West in Dublin, Dovetail and Oxbow in the Mountain West, and Vintage at Anacapa Canyon in Southern California.

Development and Lease-up Portfolio

Kennedy-Wilson Holdings Inc. completed the construction of 778 units in the U.S. multifamily sector during Q2-2024. The company expects these units, along with others in the lease-up phase, to add $26 million in estimated annual NOI upon stabilization. The near-term stabilization expectation is $47 million by the end of 2025.

Summarized from source with an LLMView Source

Key figures

-18.1%1Y

-56.2%3Y

-54.4%5Y

Performance

36.9%1Y

33.2%3Y

37.4%5Y

Volatility