Kennedy Wilson reports Q3 EPS (56c), consensus (53c)

Reports Q3 revenue $127.5M, consensus $97.71M. The company said, “Our Q3 activity continued the substantial progress we have been making throughout 2024 on our key initiatives, including the stabilization of our developments, the completion of non-core asset sales which generated $375 million of cash to KW, and the expansion of our investment management business centered around the theme of rental housing. Our debt investment platform has achieved over $2 billion in originations within multifamily and student housing development this year, with an incremental $1 billion currently in the pipeline. Additionally, in October, we were very pleased to announce a new platform with CPPIB, initially targeting the acquisition of GBP 1 billion in single-family rental housing assets in the UK. This sets the stage for continued growth in our investment management business, which has seen fees grow by 51% year-to-date.”