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KKR & Co. Inc. (NYSE:KKR) shares are trading higher today. KKR finalized the purchase of Park 8Ninety, a 12-building industrial logistics park located in Houston, Texas, from Artis Real Estate Investment Trust for about $234 million.
The 1.8 million-square-foot master-planned industrial park in southwest Houston features modern logistics buildings, including Class A facilities with heights from 24 to 36 feet. It is strategically located with direct access to Beltway 8 and major interstates.
Apart from this, Evercore ISI Group maintained an Outperform rating on the stock and raised its price target from $112 to $117.
Last week, as per a report, KKR was reportedly in talks with German billionaire and Axel Springer CEO Mathias Döpfner about separating its media assets from the digital classifieds business.
Also, Reuters reported that KKR intends to reduce its stake in Kokusai Electric, capitalizing on the strong performance of the Japanese chip equipment maker's shares.
KKR stock has gained around 90% in the last 12 months. Investors can gain exposure to the stock via FM Focus Equity ETF (NYSE:FMCX) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO).
Price Action: KKR shares are up 3.65% at $114.78 at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
