Fox Run Management L.L.C. Sells 20,738 Shares of KKR Real Estate Finance Trust $KREF

Fox Run Management L.L.C. reduced its position in KKR Real Estate Finance Trust (NYSE:KREF) by 42.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,199 shares of the company’s stock after selling 20,738 shares during the period. Fox Run Management L.L.C.’s holdings in KKR Real Estate Finance Trust were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of KREF. Charles Schwab Investment Management Inc. boosted its position in KKR Real Estate Finance Trust by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 666,973 shares of the company’s stock worth $7,203,000 after purchasing an additional 29,112 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of KKR Real Estate Finance Trust by 5.9% in the 1st quarter. Wellington Management Group LLP now owns 560,847 shares of the company’s stock worth $6,057,000 after purchasing an additional 31,097 shares during the period. Millennium Management LLC boosted its holdings in shares of KKR Real Estate Finance Trust by 25.9% in the first quarter. Millennium Management LLC now owns 353,216 shares of the company’s stock worth $3,815,000 after buying an additional 72,566 shares during the last quarter. Voya Investment Management LLC grew its position in KKR Real Estate Finance Trust by 25.4% during the first quarter. Voya Investment Management LLC now owns 327,746 shares of the company’s stock valued at $3,540,000 after buying an additional 66,344 shares during the period. Finally, Rhino Investment Partners Inc increased its holdings 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 valued at $3,204,000 after buying an additional 200,244 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Trading Up 0.5%

Shares of KKR Real Estate Finance Trust stock opened at $8.28 on Friday. KKR Real Estate Finance Trust has a fifty-two week low of $7.78 and a fifty-two week high of $11.85. The company has a debt-to-equity ratio of 3.63, a quick ratio of 423.43 and a current ratio of 423.43. The company has a market capitalization of $541.93 million, a P/E ratio of -23.64 and a beta of 0.90. The company has a fifty day moving average of $8.85 and a 200 day moving average of $9.07.

KKR Real Estate Finance Trust (NYSE:KREF) last announced its quarterly earnings data on Tuesday, October 21st. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). The business had revenue of $31.41 million during the quarter, compared to analysts’ expectations of $29.90 million. KKR Real Estate Finance Trust had a negative net margin of 0.12% and a negative return on equity of 0.60%. On average, sell-side analysts anticipate that KKR Real Estate Finance Trust will post 1.05 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 12.1%. The ex-dividend date was Tuesday, September 30th. KKR Real Estate Finance Trust’s dividend payout ratio is presently -285.71%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KREF. Keefe, Bruyette & Woods decreased their price target 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 research report on Thursday, October 23rd. Zacks Research raised KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wells Fargo & Company lowered their target price on KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $9.00 price objective (down previously from $9.50) on shares of KKR Real Estate Finance Trust in a research note on Monday, October 20th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.94.

Insiders Place Their Bets

In related news, COO W Patrick Mattson bought 13,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were purchased at an average price of $7.91 per share, with a total value of $102,830.00. Following the completion of the acquisition, the chief operating officer owned 386,787 shares of the company’s stock, valued at $3,059,485.17. This represents a 3.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew A. Salem bought 32,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average price of $7.84 per share, with a total value of $250,880.00. Following the transaction, the chief executive officer owned 561,825 shares of the company’s stock, valued at $4,404,708. The trade was a 6.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 55,000 shares of company stock worth $431,710 in the last three months. 1.90% of the stock is owned by company insiders.

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.