Keefe, Bruyette & Woods Cuts KKR Real Estate Finance Trust (NYSE:KREF) Price Target to $8.25

KKR Real Estate Finance Trust (NYSE:KREF) had its price objective cut by Keefe, Bruyette & Woods from $8.75 to $8.25 in a research note issued to investors on Thursday,Benzinga reports. They currently have a market perform rating on the stock.

Several other equities analysts have also recently weighed in on KREF. Weiss Ratings reissued a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $9.00 target price (down previously from $9.50) on shares of KKR Real Estate Finance Trust in a report on Monday, October 20th. Finally, Zacks Research upgraded KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.81.

KKR Real Estate Finance Trust Stock Performance

Shares of NYSE KREF opened at $7.96 on Thursday. The firm’s 50-day moving average price is $8.34 and its 200-day moving average price is $8.84. KKR Real Estate Finance Trust has a 52-week low of $7.55 and a 52-week high of $11.53. The company has a market cap of $520.97 million, a PE ratio of -22.73 and a beta of 0.89. The company has a quick ratio of 423.43, a current ratio of 423.43 and a debt-to-equity ratio of 3.63.

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

KKR Real Estate Finance Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.6%. The ex-dividend date of this dividend is Wednesday, December 31st. KKR Real Estate Finance Trust’s payout ratio is currently -285.71%.

Insider Buying and Selling

In other news, COO W Patrick Mattson bought 13,000 shares of KKR Real Estate Finance Trust stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average cost of $7.91 per share, with a total value of $102,830.00. Following the acquisition, the chief operating officer owned 386,787 shares of the company’s stock, valued at $3,059,485.17. The trade was a 3.48% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christen E.J. Lee bought 10,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were purchased at an average price of $7.80 per share, for a total transaction of $78,000.00. Following the purchase, the director owned 229,133 shares in the company, valued at $1,787,237.40. This trade represents a 4.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 55,000 shares of company stock worth $431,710 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

A number of hedge funds have recently modified their holdings of the company. Drive Wealth Management LLC raised its position in shares of KKR Real Estate Finance Trust by 12.9% during the second quarter. Drive Wealth Management LLC now owns 119,601 shares of the company’s stock valued at $1,079,000 after buying an additional 13,658 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of KKR Real Estate Finance Trust by 262.2% during the second quarter. Prudential Financial Inc. now owns 204,308 shares of the company’s stock worth $1,792,000 after acquiring an additional 147,895 shares during the last quarter. Voya Investment Management LLC grew its stake 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 acquiring an additional 66,344 shares in the last quarter. Condor Capital Management increased its holdings in KKR Real Estate Finance Trust by 27.6% in the 2nd quarter. Condor Capital Management now owns 344,625 shares of the company’s stock valued at $3,022,000 after acquiring an additional 74,532 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in KKR Real Estate Finance Trust in the 2nd quarter valued at $570,000. 70.23% of the stock is currently owned by institutional investors.

About KKR Real Estate Finance Trust

KKR Real Estate Finance Trust, Inc (NYSE: KREF) is a mortgage real estate investment trust sponsored by KKR & Co Inc The company focuses on originating, acquiring, financing and managing a diversified portfolio of commercial real estate debt and real estate-related assets across the United States and select European markets.

The trust’s investment strategy is centered on lending to high-quality office, industrial, retail, multifamily and hotel properties. Its portfolio primarily consists of senior mortgage loans, mezzanine loans, floating-rate debt securities and preferred equity positions.