Mirae Asset Global Investments Co. Ltd. Sells 33,642 Shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF) by 1.6% in the second quarter, Holdings Channel reports. The firm owned 2,115,298 shares of the company’s stock after selling 33,642 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in KKR Real Estate Finance Trust were worth $25,743,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP raised its stake in shares of KKR Real Estate Finance Trust by 542.7% during the first quarter. Quarry LP now owns 3,850 shares of the company’s stock valued at $44,000 after acquiring an additional 3,251 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of KKR Real Estate Finance Trust during the 2nd quarter worth $56,000. Tower Research Capital LLC TRC grew its position in shares of KKR Real Estate Finance Trust by 188.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,102 shares of the company’s stock worth $67,000 after buying an additional 2,680 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of KKR Real Estate Finance Trust by 24.8% in the first quarter. Catalyst Capital Advisors LLC now owns 6,040 shares of the company’s stock valued at $69,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in KKR Real Estate Finance Trust by 1,114.7% in the first quarter. Signaturefd LLC now owns 6,547 shares of the company’s stock worth $75,000 after acquiring an additional 6,008 shares during the period. Hedge funds and other institutional investors own 73.01% of the company’s stock.

KKR Real Estate Finance Trust Stock Performance

Shares of KREF stock opened at $12.31 on Tuesday. The company has a market capitalization of $853.26 million, a P/E ratio of -41.03 and a beta of 0.89. KKR Real Estate Finance Trust Inc. has a 12-month low of $9.94 and a 12-month high of $16.85. The business’s 50 day moving average is $11.55 and its two-hundred day moving average is $11.79. The company has a current ratio of 384.64, a quick ratio of 384.64 and a debt-to-equity ratio of 4.20.

KKR Real Estate Finance Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 13.97%. The ex-dividend date of this dividend was Thursday, September 28th. KKR Real Estate Finance Trust’s payout ratio is -573.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Raymond James cut their target price on shares of KKR Real Estate Finance Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a research report on Wednesday, October 25th. JPMorgan Chase & Co. upped their price target on shares of KKR Real Estate Finance Trust from $11.00 to $13.00 in a research note on Monday, July 24th. Citigroup decreased their target price on KKR Real Estate Finance Trust from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, October 25th. JMP Securities lowered their target price on KKR Real Estate Finance Trust from $14.00 to $13.00 and set a “market outperform” rating on the stock in a research note on Wednesday, October 25th. Finally, TheStreet raised KKR Real Estate Finance Trust from a “d+” rating to a “c-” rating in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.17.

About KKR Real Estate Finance Trust

KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on originating and acquiring senior loans secured by commercial real estate (CRE) assets. It engages in the origination and purchase of credit investments related to CRE, including leveraged and unleveraged commercial real estate loans, and commercial mortgage-backed securities.