KKR Real Estate Finance Trust (NYSE:KREF) Adds US$84m to Market Cap in the Past 7 Days, Though Investors From Five Years Ago Are Still Down 6.3%
KKR Real Estate Finance Trust (NYSE:KREF) Adds US$84m to Market Cap in the Past 7 Days, Though Investors From Five Years Ago Are Still Down 6.3%
It's nice to see the KKR Real Estate Finance Trust Inc. (NYSE:KREF) share price up 12% in a week. But over the last half decade, the stock has not performed well. After all, the share price is down 43% in that time, significantly under-performing the market.
很高興看到KKR房地產金融信託公司(紐約證券交易所代碼:KREF)的股價在一週內上漲了12%。但是在過去的五年中,該股表現不佳。畢竟,當時股價下跌了43%,表現大大低於市場。
Although the past week has been more reassuring for shareholders, they're still in the red over the last five years, so let's see if the underlying business has been responsible for the decline.
儘管過去一週令股東更加放心,但在過去五年中,他們仍處於虧損狀態,因此,讓我們看看基礎業務是否是下跌的原因。
View our latest analysis for KKR Real Estate Finance Trust
查看我們對KKR房地產金融信託的最新分析
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).
在他的文章中 格雷厄姆和多茲維爾的超級投資者 沃倫·巴菲特描述了股價如何並不總是能合理地反映企業的價值。研究市場情緒如何隨時間推移而變化的一種方法是研究公司的股價與其每股收益(EPS)之間的相互作用。
Over five years KKR Real Estate Finance Trust's earnings per share dropped significantly, falling to a loss, with the share price also lower. At present it's hard to make valid comparisons between EPS and the share price. But we would generally expect a lower price, given the situation.
在過去的五年中,KKR房地產金融信託的每股收益大幅下降,跌至虧損,股價也有所下降。目前,很難對每股收益和股價進行有效的比較。但是,鑑於這種情況,我們通常預計價格會更低。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下圖顯示了 EPS 在一段時間內的跟蹤情況(如果你點擊圖片,你可以看到更多的細節)。
![earnings-per-share-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231107/0-eb813c94999a3bbc67847596da3320b9-0-685a7005b860b2842cbcfd479278e069.png/big)
We like that insiders have been buying shares in the last twelve months. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. It might be well worthwhile taking a look at our free report on KKR Real Estate Finance Trust's earnings, revenue and cash flow.
像我們一樣,內部人士在過去的十二個月中一直在購買股票。話雖如此,大多數人認爲收益和收入增長趨勢是更有意義的業務指南。可能值得一看我們關於KKR房地產金融信託基金收益、收入和現金流的免費報告。
What About Dividends?
那股息呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for KKR Real Estate Finance Trust the TSR over the last 5 years was -6.3%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
重要的是要考慮任何給定股票的股東總回報率和股價回報率。儘管股價回報率僅反映股價的變化,但股東總回報率包括股息的價值(假設已進行再投資)以及任何折扣融資或分拆的收益。可以說,股東總回報率更全面地描述了股票產生的回報。我們注意到,對於KKR房地產金融信託而言,過去5年的股東總回報率爲-6.3%,好於上述股價回報率。因此,該公司支付的股息提高了 總 股東回報。
A Different Perspective
不同的視角
Investors in KKR Real Estate Finance Trust had a tough year, with a total loss of 23% (including dividends), against a market gain of about 15%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 1.2% over the last half decade. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with KKR Real Estate Finance Trust (at least 1 which is significant) , and understanding them should be part of your investment process.
KKR房地產金融信託的投資者經歷了艱難的一年,總虧損23%(包括股息),而市場漲幅約爲15%。即使是優質股票的股價有時也會下跌,但我們希望在過於感興趣之前看到企業基本指標的改善。不幸的是,去年的表現可能預示着尚未解決的挑戰,因爲它比過去五年中1.2%的年化虧損還要糟糕。我們意識到羅斯柴爾德男爵曾說過,投資者應該 “在街頭流血時買入”,但我們警告說,投資者應首先確保他們購買的是高質量的企業。儘管市場狀況可能對股價產生的不同影響值得考慮,但還有其他因素更爲重要。例如,投資風險的幽靈無處不在。我們已經向KKR房地產金融信託基金確定了兩個警告信號(至少一個是重要的),了解它們應該是您投資過程的一部分。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).
如果你想和管理層一起購買股票,那麼你可能會喜歡這份免費的公司清單。(提示:內部人士一直在買入它們)。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
請注意,本文引用的市場回報反映了目前在美國交易所交易的股票的市場加權平均回報率。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St 的這篇文章本質上是籠統的。我們僅使用公正的方法提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。