KE (NYSE:BEKE) Shares Gap Up - Here's Why

KE Holdings Inc. (NYSE:BEKE - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $19.36, but opened at $20.01. KE shares last traded at $19.59, with a volume of 1,853,642 shares changing hands.

Wall Street Analysts Forecast Growth

BEKE has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of KE in a research note on Tuesday, March 18th. Morgan Stanley boosted their price objective on KE from $19.00 to $27.00 and gave the stock an "overweight" rating in a report on Wednesday, March 19th. Finally, UBS Group cut shares of KE from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $22.70 to $24.50 in a research report on Thursday, March 20th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $27.26.

KE Trading Up 3.7 %

The business's 50 day moving average price is $20.90 and its 200-day moving average price is $19.88. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 41.27, a PEG ratio of 3.45 and a beta of -0.73.

KE Increases Dividend

The company also recently disclosed a -- dividend, which will be paid on Friday, April 25th. Investors of record on Wednesday, April 9th will be paid a $0.36 dividend. This represents a yield of 1.4%. This is a boost from KE's previous -- dividend of $0.17. The ex-dividend date of this dividend is Wednesday, April 9th. KE's dividend payout ratio (DPR) is 64.58%.

Institutional Investors Weigh In On KE

Hedge funds have recently modified their holdings of the company. FIL Ltd boosted its position in KE by 21.1% during the fourth quarter. FIL Ltd now owns 25,847,478 shares of the company's stock valued at $476,111,000 after acquiring an additional 4,503,902 shares during the last quarter. Hhlr Advisors LTD. increased its holdings in KE by 3.6% in the fourth quarter. Hhlr Advisors LTD. now owns 11,261,276 shares of the company's stock worth $207,433,000 after purchasing an additional 392,588 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of KE by 111,822,650.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company's stock worth $205,978,000 after buying an additional 11,182,265 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of KE by 2.4% in the 4th quarter. Renaissance Technologies LLC now owns 8,155,694 shares of the company's stock valued at $150,228,000 after acquiring an additional 194,800 shares in the last quarter. Finally, Norges Bank bought a new position in KE during the fourth quarter worth $130,167,000. Institutional investors and hedge funds own 39.34% of the company's stock.

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.