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KKR Stock Dips 3.58% Despite Booming Profits and Bold Global Expansions

AInvestMonday, Dec 9, 2024 5:33 pm ET
1min read

KKR & Co. Inc. has continued to make significant strides in the global investment landscape, despite recent market fluctuations, including a notable 3.58% drop in its stock price on December 9. Barclays has maintained an overweight rating on KKR, setting a price target of $185. In its recent fiscal report, KKR disclosed a robust growth in operational metrics, with revenues reaching $190.10 billion, marking an 81.03% increase year-over-year, and a net profit of $35.22 billion, showing a 68.11% growth. The earnings per share stood at $2.20.

KKR's global presence and strategic expertise continue to manifest in its expansive investment initiatives. Notably, KKR has established a new strategic partnership with Weave Living in Japan. This collaboration is set to create over 3,000 long-term rental housing units, under the venture 'Weave Living Japan Residential Venture I'. Initially, the focus will be on developing 11 new properties in Tokyo, expanding further to Osaka. This marks another strategic push following their earlier partnership in South Korea to develop a rental portfolio centered around Seoul.

Furthermore, KKR has joined forces with Baupost Group to acquire 33 Marriott International hotels in the UK from ADIA. This acquisition marks a substantial expansion in the hospitality sector, particularly through KKR's European hotels entity, Amante Capital, which will manage the acquired assets. The portfolio, encompassing 6,500 rooms, spans major cities like London and Glasgow, enhancing accommodations for both business and leisure guests. This partnership underscores KKR's ability to expand its footprint in the premium hotel segment and strengthen its global ties with Marriott International.

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