Brokerages Set KKR Real Estate Finance Trust (NYSE:KREF) Price Target at $9.94

Shares of KKR Real Estate Finance Trust (NYSE:KREF) have been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $9.9375.

Several analysts have recently commented on KREF shares. Keefe, Bruyette & Woods dropped their price objective on shares of KKR Real Estate Finance Trust from $9.50 to $8.75 and set a “market perform” rating on the stock in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Wednesday, October 8th. Wells Fargo & Company decreased their target price on shares of KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Zacks Research upgraded shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $9.00 target price (down from $9.50) on shares of KKR Real Estate Finance Trust in a research note on Monday, October 20th.

KKR Real Estate Finance Trust Stock Down 2.3%

KREF stock opened at $8.54 on Friday. The firm’s fifty day simple moving average is $9.18 and its 200-day simple moving average is $9.15. The company has a market capitalization of $558.96 million, a P/E ratio of -24.39 and a beta of 0.89. The company has a debt-to-equity ratio of 3.63, a current ratio of 423.43 and a quick ratio of 423.43. KKR Real Estate Finance Trust has a 12 month low of $8.27 and a 12 month high of $12.33.

KKR Real Estate Finance Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.7%. The ex-dividend date was Tuesday, September 30th. KKR Real Estate Finance Trust’s payout ratio is currently -285.71%.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

Several large investors have recently made changes to their positions in KREF. Balyasny Asset Management L.P. lifted its stake in shares of KKR Real Estate Finance Trust by 368.5% in the 2nd quarter. Balyasny Asset Management L.P. now owns 536,084 shares of the company’s stock valued at $4,701,000 after purchasing an additional 421,657 shares during the period. Invesco Ltd. raised its position in KKR Real Estate Finance Trust by 92.2% during the second quarter. Invesco Ltd. now owns 841,503 shares of the company’s stock worth $7,380,000 after acquiring an additional 403,660 shares during the period. Nuveen LLC acquired a new position in KKR Real Estate Finance Trust during the first quarter worth $2,241,000. Rhino Investment Partners Inc raised its position in KKR Real Estate Finance Trust by 207.7% during the first quarter. Rhino Investment Partners Inc now owns 296,668 shares of the company’s stock worth $3,204,000 after acquiring an additional 200,244 shares during the period. Finally, Bank of America Corp DE raised its position in KKR Real Estate Finance Trust by 148.3% during the second quarter. Bank of America Corp DE now owns 312,596 shares of the company’s stock worth $2,741,000 after acquiring an additional 186,687 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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 transitional 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.