Kennedy Wilson Europe Real Estate (KWE) was the second largest real estate initial public offering (IPO) ever on the London Stock Exchange when it floated in February 2014. Since then, its progress has been little short of meteoric, and it now has a market capitalisation of over £1.6bn. KWE is managed by Kennedy Wilson Investment Management, a wholly owned subsidiary of Kennedy Wilson Holdings, a New York-listed real estate and services business with more than $17bn (£10.8bn) of assets under management.
IC TIP:
Buy
Mary Ricks is president and chief executive of Kennedy Wilson, and recently she increased her stake in KWE through the purchase of 20,000 shares at 1,169p per share, taking her total interest up to just over 100,000 shares. KWE has shown a deft touch in picking up under-managed assets at a decent price, usually property that is non-core to its owners, like a bank or receiver. These assets are then refurbished to secure a higher rental income. To date it has acquired over 250 assets covering more than 9m sq ft and valued at £2.2bn.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 1pm * | Helen Walker (fd) | 26 Aug 15 | 16,667 | 60 | 10,000 | 87,687 | 0.167 |
| 1pm * | Ron Russell | 26 Aug 15 | 1,666,667 | 60 | 1,000,000 | 9,065,351 | 17.256 |
| 1pm * | Ian Smith (ch) | 26 Aug 15 | 41,667 | 60 | 25,000 | 41,667 | 0.079 |
| Aberdeen Asian Income Fund | DAH Baxter | 24 Aug 15 | 20,000 | 146.5 | 29,300 | 50,714 | 0.026 |
| AstraZeneca | Pascal Soriot (ce) | 25 Aug 15 | 76,300 | 3,960 | 3,021,480 | 292,066 | 0.023 |
| Auctus Growth | Malcolm Burne (ch) | 25 Aug 15 | 10,000 | 48.75 | 4,875 | 283,333 | 10.616 |
| Auctus Growth * | Malcolm Burne (ch) | 25 Aug 15 | 73,333 | 50 | 36,667 | 273,333 | 10.241 |
| Auctus Growth * | Nathan Steinberg | 25 Aug 15 | 24,000 | 50 | 12,000 | 49,000 | 1.836 |
| Bowleven | John Martin | 26 Aug 15 | 173,913 | 23.25 | 40,435 | 173,913 | 0.054 |
| BP † | Admiral FL Bowman | 25 Aug 15 | 1,800 | 331.578 | 5,968 | 18,120 | <0.001 |
| BP † | Admiral FL Bowman | 25 Aug 15 | 2,982 | 331.525 | 9,886 | 21,102 | <0.001 |
| Capital Gearing Trust | Jean Matterson | 25 Aug 15 | 3,000 | 3,259 | 97,770 | 3,000 | 0.102 |
| Centrica | Ian Meakins | 25 Aug 15 | 935 | 245.15 | 2,292 | 18,188 | <0.001 |
| Centrica | Margherita Della Valle | 25 Aug 15 | 727 | 245.15 | 1,782 | 21,092 | <0.001 |
| EnQuest Ω | Dr. James Buckee (ch) | 21 Aug 15 | 200,000 | 26 | 52,000 | 3,936,949 | 0.490 |
| EP Global Opportunities Ω | David Hough | 21 Aug 15 | 6,000 | 237.35 | 14,241 | 79,000 | 0.160 |
| F&C Capital & Income | T Scholefield | 24 Aug 15 | 2,000 | 250.75 | 5,015 | 4,000 | 0.004 |
| Finsbury Growth & Income Trust ♥ | NA Collins | 24 Aug 15 | 1,857 | 535 | 9,935 | 48,842 | 0.041 |
| Gear4music (Holdings) | Gareth Bevan | 25 Aug 15 | 13,920 | 142.5 | 19,836 | 134,382 | 0.667 |
| Glencore | John Mack | 20 Aug 15 | 50,000 | 162.9 | 81,450 | 200,000 | 0.002 |
| Greene King | Kirk Davis (cfo) | 24 Aug 15 | 4,000 | 821 | 32,840 | 4,000 | 0.001 |
| Gresham Computing ♥ | MME Royde | 21 Aug 15 | 77,500 | 98 | 75,950 | 6,167,164 | 9.753 |
| Gresham Computing ♥ | MME Royde | 24 Aug 15 | 40,000 | 98 | 39,200 | 6,207,164 | 9.816 |
| Henderson Far East Income | David Staples | 24 Aug 15 | 5,000 | 247.5 | 12,375 | 21,000 | 0.019 |
| Henderson Far East Income | John Russell (ch) | 24 Aug 15 | 10,000 | 248 | 24,800 | 60,306 | 0.054 |
| Henderson Global Trust | Victoria Hastings | 25 Aug 15 | 4,226 | 352.87 | 14,912 | 7,226 | 0.019 |
| Homeserve | JM Barry Gibson (ch) | 25 Aug 15 | 10,000 | 406 | 40,600 | 126,070 | 0.041 |
| iEnergizer * | Anil Aggarwal | 21 Aug 15 | 22,000,008 | 5 | 1,100,000 | 157,196,152 | 82.678 |
| International Biotechnology Trust ♥ | Dr Veronique Bouchet | 26 Aug 15 | 2,500 | 493.5 | 12,338 | 7,500 | 0.019 |
| JPMorgan American | Dr. K Carter | 25 Aug 15 | 12,000 | 247.54 | 29,705 | 24,000 | 0.009 |
| Kainos ♥ | Andy Malpass | 21 Aug 15 | 5,000 | 190 | 9,500 | 27,590 | 0.023 |
| Kennedy Wilson Europe Real Estate | Mary Ricks | 24 Aug 15 | 20,000 | 1,169.7 | 233,940 | 100,916 | 0.075 |
| Kingspan | Bruce McLennan | 25 Aug 15 | 10,000 | 2,175 | 217,500 | 10,000 | 0.006 |
| Marks & Spencer | Robert Swannell (ch) | 25 Aug 15 | 20,000 | 501 | 100,200 | 140,000 | 0.009 |
| Meggitt | Douglas Webb (cfo) | 20 Aug 15 | 20,000 | 484.55 | 96,910 | 47,748 | 0.006 |
| Menzies (John) | Paula Bell (fd) | 21 Aug 15 | 5,000 | 450 | 22,500 | 17,519 | 0.029 |
| Menzies (John) | Jeremy Stafford (ce) | 20 Aug 15 | 5,000 | 433.8 | 21,690 | 19,920 | 0.032 |
| Menzies (John) ♥ | David Garman | 20 Aug 15 | 10,000 | 436 | 43,600 | 10,000 | 0.016 |
| Mid Wynd International | Richard Burns (ch) | 25 Aug 15 | 35,000 | 318.25 | 111,388 | 882,500 | 3.492 |
| Phaunos Timber Fund | Jane Lewis | 25 Aug 15 | 22,694 | 35 | 7,943 | 22,694 | 0.004 |
| Rightmove | Colin Kemp | 25 Aug 15 | 1,000 | 3,537.38 | 35,374 | 2,000 | 0.002 |
| Sage Group (The) | Stephen Kelly (ce) | 26 Aug 15 | 20,000 | 496.5 | 99,300 | 212,346 | 0.020 |
| Schroder UK Growth Fund | AH Clifton (ch) | 25 Aug 15 | 4,000 | 151 | 6,040 | 46,000 | 0.029 |
| Schroder UK Growth Fund ♥ | AH Clifton (ch) | 25 Aug 15 | 4,000 | 151 | 6,040 | 50,000 | 0.031 |
| SIG | Andrea Abt | 25 Aug 15 | 8,500 | 183.74 | 15,618 | 8,500 | 0.001 |
| Smith & Nephew † | Vinita Bali | 26 Aug 15 | 2,400 | 1,090.6 | 26,174 | 4,986 | 0.001 |
| Spirax-Sarco Engineering | Nicholas Anderson (ce) | 25 Aug 15 | 1,000 | 3,117.73 | 31,177 | 6,659 | 0.009 |
| Spirax-Sarco Engineering | Dr. Trudy Schoolenberg | 26 Aug 15 | 927 | 3,085 | 28,598 | 1,854 | 0.003 |
| SSE | Crawford Gillies | 26 Aug 15 | 5,000 | 1,428.85 | 71,443 | 5,000 | 0.001 |
| Tate & Lyle | Sir Peter Gershon (ch) | 25 Aug 15 | 10,000 | 510 | 51,000 | 137,399 | 0.029 |
| Templeton Emerging Markets | PVFS Manduca | 24 Aug 15 | 5,000 | 384.315 | 19,216 | 5,000 | 0.002 |
| ULS Technology | Geoff Wicks | 24 Aug 15 | 30,000 | 50 | 15,000 | 30,000 | 0.046 |
| Unilever † | Ann Fudge | 25 Aug 15 | 1,050 | 2,535.22 | 26,620 | 5,000 | <0.001 |
| Utilitywise | Paul Hailes | 25 Aug 15 | 11,667 | 158.28 | 18,466 | 45,001 | 0.059 |
| Witan Pacific | Susan Platts-Martin | 26 Aug 15 | 2,348 | 212.88 | 4,998 | 6,348 | 0.010 |
| Witan Pacific | Susan Platts-Martin | 26 Aug 15 | 2,652 | 211.75 | 5,616 | 9,000 | 0.014 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Afarak Group | Dr. Alastair Ruiters (ce) | 20 Aug 15 | 18,211 | 36.17 | 6,586 | 400,000 | 0.155 |
| Dixons Carphone | Graham Stapleton | 24 Aug 15 | 54,830 | 408.40 | 223,926 | 490,034 | 0.043 |
| Dixons Carphone | Graham Stapleton | 21 Aug 15 | 170,110 | 433.79 | 737,912 | 544,864 | 0.047 |
| Dixons Carphone | Katie Bickerstaffe | 24 Aug 15 | 35,170 | 408.40 | 143,635 | 407,590 | 0.035 |
| Dixons Carphone | Katie Bickerstaffe | 21 Aug 15 | 109,034 | 433.79 | 472,973 | 442,760 | 0.038 |
| * placing/tender/open offer ♥ spouse/connected party Ω ISA/SIPP/Trust † depositary receipts | |||||||
