Kennedy-Wilson Will Buy Back Shares

Kennedy Wilson Inc. said it will buy up to a million of its shares, or about 10% of its outstanding common stock. The Beverly Hills-based real estate services and investment firm did not disclose the reasons for the buyback. Numerous other real estate firms have undertaken such programs in recent years during a period in which their stock prices have been depressed and out of favor among investors, according to industry analysts. Kennedy-Wilson shares rose 19 cents in over-the-counter trading to close at $5.75.