Why KKR Stock Rallied 10.5% in May
Shares of KKR (NYSE: KKR) jumped 10.5% in May, according to data provided by S&P Global Market Intelligence. The private equity giant had a busy month, reporting its first-quarter results and securing several new strategic partnerships.
KKR reported strong first-quarter results in early May. The private equity giant delivered 20%+ growth in its fee-related earnings, total operating earnings, and adjusted net income. It also grew its assets under management (AUM) by 13% to $578 million, raising an impressive $31 billion of new capital in the quarter.
KKR also formed several new strategic partnerships last month. For example, it signed a strategic joint venture with healthcare real estate investment trust (REIT) Healthcare Realty (NYSE: HR) to jointly own and invest in medical outpatient buildings. The REIT will contribute 12 existing properties worth $383 million. Healthcare Realty will receive $300 million and own a 20% stake in the joint venture.
Source Fool.com
KKR & Co. LP Stock
With 31 Buy predictions and not a single Sell prediction KKR & Co. LP is an absolute favorite of our community.
With a target price of 123 € there is a slightly positive potential of 9.82% for KKR & Co. LP compared to the current price of 112.0 €.
