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.
很高兴看到KKR房地产金融信托公司(纽约证券交易所代码:KREF)的股价在一周内上涨12%。但是在过去的五年中,该股表现不佳。毕竟,那段时间股价下跌了43%,表现明显逊于市场。
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.
尽管过去一周令股东更加放心,但在过去五年中,他们仍处于亏损状态,所以让我们看看基础业务是否是造成下降的原因。
View our latest analysis for KKR Real Estate Finance Trust
查看我们对KKR房地产金融信托的最新分析
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 格雷厄姆和多兹维尔的超级投资者 沃伦·巴菲特描述了股价如何并不总是合理地反映企业的价值。研究市场情绪如何随着时间的推移而变化的一种方法是研究公司股价与其每股收益(EPS)之间的相互作用。
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.
在过去的五年中,KKR Real Estate Finance Trust的每股收益大幅下降,跌至亏损,股价也有所下降。目前,很难对每股收益和股价进行有效的比较。但是,鉴于这种情况,我们通常预计价格会更低。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下图显示了 EPS 在一段时间内的跟踪情况(如果你点击图片,你可以看到更多细节)。
![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.
我们喜欢内部人士在过去十二个月中一直在购买股票。话虽如此,大多数人认为收益和收入增长趋势是更有意义的业务指南。我们关于KKR Real Estate Finance Trust的收益、收入和现金流的免费报告可能值得一看。
What About Dividends?
分红呢?
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.
重要的是要考虑任何给定股票的股东总回报率以及股价回报。股价回报仅反映股价的变化,而股东总回报率包括股息的价值(假设股息已被再投资)以及任何折扣融资或分拆的收益。可以说,股东总回报率可以更全面地描述股票产生的回报。我们注意到,KKR房地产金融信托基金在过去5年的股东总回报率为-6.3%,好于上述股价回报率。因此,该公司支付的股息促进了 总 股东回报。
A Different Perspective
不同的视角
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房地产金融信托的投资者度过了艰难的一年,总亏损23%(包括股息),而市场涨幅约为15%。即使是优质股票的股价有时也会下跌,但我们希望看到企业的基本指标有所改善,然后才会变得过于感兴趣。不幸的是,去年的表现可能表明挑战尚未得到解决,因为这比过去五年来1.2%的年化亏损还要严重。我们意识到,罗斯柴尔德男爵曾说过,投资者应该 “在街头流血时买入”,但我们警告说,投资者应首先确保他们购买的是高质量的企业。尽管值得考虑市场状况可能对股价产生的不同影响,但还有其他因素更为重要。例如,以永远存在的投资风险幽灵为例。我们在KKR房地产金融信托基金中发现了两个警告信号(至少有一个很重要),了解它们应该成为您投资过程的一部分。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).
如果你想与管理层一起购买股票,那么你可能会喜欢这份免费的公司名单。(提示:业内人士一直在购买它们)。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文引用的市场回报反映了目前在美国交易所交易的股票的市场加权平均回报。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。