Kennedy Wilson Share Discussion Threads

[spectoacc] 29/9/2016 09:00

Also keen on these, they're about the only REIT or property IT that hasn't bounced hugely from the Brexit sell-off. And they're not even UK-focussed - Dublin could well be a beneficiary from Brexit when it eventually happens.

They don't actually appear to have bought back any shares yesterday, fwiw. I'd rather they'd been able to swipe a few cheaply.

[djderry] 28/9/2016 17:34

That's more like it Mary! This is one of my biggest single stock holdings and the share price is seriously wide of even the most conservative NAV.Buy them up to 11.50 at least!!

[mad foetus] 05/8/2016 06:27

Results look decent, NAV of 1235 and 600m of reserves to pick up any distressed sales. Of course, the valuation doesn't give much insight into any post Brexit changes. But yielding 4.9% and at a 20% discount to NAV (with that caveat), with significant overseas exposure and a remit to buy distressed assets, there should be plenty of downside protection here.

[mad foetus] 18/7/2016 08:14

worth remembering that 35% of the portfolio here is ex-UK, including 24% in Dublin. One possible outcome of Brexit is UK financial institutions setting up Dublin offices to keep the EU passport. In which case, that 24% of the portfolio could be in a sweet spot.

[djderry] 05/7/2016 10:47

Still buying these babies today,they bought a lot of their portfolio for half nothing and now I'm buying THEM for half nothing!

[mad foetus] 04/7/2016 07:20

Practical completion at Baggot means that after the 11 month rent free period, income will be boosted by over 6m EUR p.a. Also, factor in sterling weakness and our Euro income will give the overall income a meaningful boost. I would have thought dividend could easily increase to 60p in 2017 if the board wanted it to.

[mad foetus] 01/7/2016 19:59

Agree with that. I've been trading and have increased my holding by around 10% at no extra cost. But I'm wondering whether just to buy in and hold. KW are expert at adding value, when you factor the discount and yield in, this is looking a fantastic long term entrance point.

[djderry] 01/7/2016 19:43

I've been buying these all the way up and down,now yielding 5% and circa 38% discount to Dec.2016 NAV.Never thought I would get them at this price,the stock market keeps on giving.

[mick] 01/7/2016 08:53

Pity to see such a large holder like Wellington reduce their holding by 7m shares with potentially a further 13m more to go. One thing that makes me uncomfortable about KWE is its relatively high gearing - over 1.2bn in debt.

[mad foetus] 20/6/2016 13:50

I top sliced the ones I bought a couple of weeks ago - bought at 10.85, sold at 11.00, adding a few shares at zero cost to my long term holding.

[mad foetus] 16/6/2016 09:33

a smallish acquisition this week, in Chelmsford.
hxxp://kennedywilson.eu/media/press-releases/2016/kwe-completes-acquisition-of-logistics-property-in-chelmsford-for-105m/

[mad foetus] 06/6/2016 08:10

mary ricks bought another 20,000 and last week KW itself added 300,000.
I think there must be a big seller around - the brokers will know who it is.
Looks silly cheap to me - dividend is locked in for years and over 4.5% at the moment.

[mad foetus] 31/5/2016 10:37

Sold out the traders at 1097 on Friday - bought some back just now at a whisker under 1086. I used to think it wasn't worth bothering, but it's added 15 shares to my long term holding, so can't complain.

[mad foetus] 23/5/2016 10:04

I half agree, though I think once the referendum is out of the way confidence in property will rebuild again. The 48p pa dividend is conservative and sustainable and provided interest rates stay low - and I expect them to - that underpins everything.

[hpcg] 23/5/2016 08:48

hmm, I don't think that statistic has much relevance to KWE, we don't know what a normal discount is. It needs to go through at least a cycle.

[mad foetus] 23/5/2016 07:57

hxxp://citywire.co.uk/money/investment-trust-watch-p2p-funds-in-turmoil/a908505
KWE mentioned as one of the funds that is at the biggest discount to its historic norms.

[mad foetus] 12/5/2016 08:03

A decent buy from Mary Ricks - 20,000 shares at £10.82. She now has c£1.6m in stock. Looks well underpriced to me, but then the sector is down, largely due to Brexit concerns imo.

[hpcg] 05/5/2016 08:08

Yes, the ROC % from sales was good to read. Also the progress at Buckingham house where we are anticipating growth in rent. Pretty standard read really and should see the share price back to 1200.

[mad foetus] 05/5/2016 07:22

No surprises in the results, but then as revaluations only take place twice a year they are static. The key thing for me was:

Total sales are now GBP268.5 million generating an average unlevered return on capital of 23.6% over a hold period of 17 months and are 6.4% ahead of preceding valuations. This, along with an active sales pipeline currently being marketed, means we are well placed to meet our target.

It shows the buy - improve - relet - sell model is working. Also, good to see increased activity out of London, especially in Dublin. Brexit concerns weigh on the sector but 4.5% yield remains attractive. And it is worth noting that net income is £153m, so I am sure it is very well covered.

[mad foetus] 21/4/2016 08:33

I've bought some for the kids accounts today at 1064. Must be yielding 4.5% at that price and the leverage here is so cheap that I expect a rerating to 1200 in the next few weeks around/after the May update.