Exclusive | KKR Makes Its Biggest Foray Into Apartments, Betting on Rising Rents
Written by Emily J. Thompson, Senior Investment Analyst
Source: WSJ
- KKR's Largest Purchase: KKR has completed its largest-ever purchase of apartment buildings, acquiring more than 5,200 units across the U.S. for $2.1 billion.
- Investment Firm Activity: The purchase by KKR signals that prominent investment firms are optimistic about a broad rebound in multifamily housing.
- Geographical Spread: The acquired properties span across various states including California, Texas, and New Jersey, comprising 18 new mid- and high-rise buildings.
- Deal Closure: The deal for the multifamily properties closed on Tuesday, marking a significant transaction in the real estate market.
Analyst Views on KKR
Wall Street analysts forecast KKR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for KKR is 157.20 USD with a low forecast of 145.00 USD and a high forecast of 188.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
10 Buy
0 Hold
0 Sell
Strong Buy
Current: 131.320
Low
145.00
Averages
157.20
High
188.00
Current: 131.320
Low
145.00
Averages
157.20
High
188.00
About KKR
KKR & Co. Inc. is a global investment firm that offers alternative asset management as well as capital markets and insurance solutions. The Company’s segments include Asset Management, Insurance and Strategic Holdings. Asset Management segment offers a range of investment management services to investment funds, vehicles and accounts and provides capital markets services to portfolio companies and third parties. Asset Management segment includes five business lines: Private Equity, Real Assets, Credit and Liquid Strategies, Capital Markets and Principal Activities. Insurance segment is operated by Global Atlantic, which is a United States retirement and life insurance company that provides a suite of protection, legacy and savings products and reinsurance solutions to clients across individual and institutional markets. Global Atlantic offers individuals fixed-rate annuities and others. Strategic Holdings segment represents its participation in its core private equity strategy.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
