Is Kennedy-Wilson Holdings, Inc. overvalued or undervalued?

As of 1 November 2023, the valuation grade for Kennedy-Wilson Holdings, Inc. has moved from very attractive to risky, indicating a significant deterioration in its investment appeal. The company appears to be overvalued based on its current financial metrics, with a Price to Book Value of 0.58, an EV to EBITDA ratio of 2.49, and an EV to Sales ratio of 1.05. In comparison to peers, Jones Lang LaSalle, Inc. has a fair valuation with a P/E ratio of 25.21 and an EV to EBITDA of 11.96, while Howard Hughes Holdings, Inc. also holds a fair valuation with an EV to EBITDA of 4.78.
The recent stock performance further underscores this valuation concern, as Kennedy-Wilson has underperformed against the S&P 500 across multiple time frames, notably with a year-to-date return of -11.01% compared to the S&P 500's 12.22%. This trend of declining returns over the past three and five years, with losses of -49.60% and -42.16% respectively, reinforces the notion that the stock may not be a sound investment at its current price.