Citigroup Issues Pessimistic Forecast for KE (NYSE:BEKE) Stock Price

KE (NYSE:BEKE) had its price objective decreased by Citigroup from $25.80 to $24.80 in a research note published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

BEKE has been the subject of several other reports. Morgan Stanley upped their target price on KE from $19.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, March 19th. UBS Group raised KE from a “neutral” rating to a “buy” rating and upped their target price for the company from $22.10 to $23.00 in a report on Friday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of KE in a report on Tuesday, March 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, KE presently has a consensus rating of “Buy” and an average price target of $27.16.

KE Stock Up 0.4%

BEKE stock opened at $19.24 on Friday. The firm has a market cap of $23.25 billion, a PE ratio of 39.27, a P/E/G ratio of 3.45 and a beta of -0.73. The business has a 50 day moving average of $20.32 and a 200-day moving average of $19.72. KE has a 12-month low of $12.92 and a 12-month high of $26.05.

KE Increases Dividend

The company also recently disclosed a — dividend, which was paid on Friday, April 25th. Shareholders of record on Wednesday, April 9th were issued a dividend of $0.36 per share. This represents a yield of 1.4%. This is a positive change from KE’s previous — dividend of $0.17. The ex-dividend date was Wednesday, April 9th. KE’s dividend payout ratio is 58.49%.

Hedge Funds Weigh In On KE

Institutional investors and hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its holdings in KE by 55.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 169,000 shares of the company’s stock valued at $3,113,000 after purchasing an additional 60,000 shares during the period. ABS Direct Equity Fund LLC grew its holdings in KE by 284.5% during the fourth quarter. ABS Direct Equity Fund LLC now owns 84,200 shares of the company’s stock valued at $1,551,000 after purchasing an additional 62,300 shares during the period. Atomi Financial Group Inc. bought a new position in KE during the fourth quarter valued at $234,000. Park Avenue Securities LLC bought a new position in KE during the fourth quarter valued at $304,000. Finally, Caas Capital Management LP bought a new position in KE during the fourth quarter valued at $1,689,000. 39.34% of the stock is owned by institutional investors.

About KE

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.