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. trimmed its holdings in KKR Real Estate Finance Trust Inc. (NYSE:KREF) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The fund 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 reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in KKR Real Estate Finance Trust by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 438,282 shares of the company’s stock worth $9,032,000 after purchasing an additional 16,216 shares during the period. Cetera Advisor Networks LLC purchased a new position in KKR Real Estate Finance Trust during the first quarter valued at $443,000. Bank of Montreal Can boosted its holdings in shares of KKR Real Estate Finance Trust by 8.9% during the 1st quarter. Bank of Montreal Can now owns 12,902 shares of the company’s stock valued at $272,000 after purchasing an additional 1,051 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of KKR Real Estate Finance Trust by 61.6% in the first quarter. MetLife Investment Management LLC now owns 19,541 shares of the company’s stock worth $403,000 after buying an additional 7,449 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in KKR Real Estate Finance Trust by 3.8% during the 1st quarter. Rhumbline Advisers now owns 116,159 shares of the company’s stock valued at $2,394,000 after buying an additional 4,252 shares in the last quarter. Hedge funds and other institutional investors own 73.01% of the company’s stock.

KKR Real Estate Finance Trust Trading Up 0.3 %

NYSE KREF opened at $12.31 on Tuesday. KKR Real Estate Finance Trust Inc. has a 12 month low of $9.94 and a 12 month high of $16.85. The company’s 50-day moving average price is $11.55 and its 200-day moving average price is $11.79. The stock has a market cap of $853.26 million, a PE ratio of -41.03 and a beta of 0.89. 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. Shareholders of record on Friday, September 29th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.72 annualized dividend and a yield of 13.97%. KKR Real Estate Finance Trust’s payout ratio is currently -573.33%.

Analyst Upgrades and Downgrades

KREF has been the subject of a number of recent research reports. 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 for the company in a report on Wednesday, October 25th. JMP Securities lowered their price target on shares of KKR Real Estate Finance Trust from $14.00 to $13.00 and set a “market outperform” rating for the company in a report on Wednesday, October 25th. TheStreet raised KKR Real Estate Finance Trust from a “d+” rating to a “c-” rating in a research note on Tuesday, July 25th. Citigroup lowered their price objective on KKR Real Estate Finance Trust from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, October 25th. Finally, JPMorgan Chase & Co. increased their price target on KKR Real Estate Finance Trust from $11.00 to $13.00 in a report on Monday, July 24th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.17.

KKR Real Estate Finance Trust Company Profile

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.