KKR Real Estate Finance Trust (NYSE:KREF) Issues Earnings Results

KKR Real Estate Finance Trust (NYSE:KREF) issued its earnings results on Tuesday. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.58), FiscalAI reports. The firm had revenue of $29.34 million for the quarter, compared to analysts’ expectations of $24.97 million. KKR Real Estate Finance Trust had a negative return on equity of 0.78% and a negative net margin of 23.55%.

KKR Real Estate Finance Trust Price Performance

NYSE KREF opened at $7.61 on Wednesday. The firm’s 50 day moving average is $6.96 and its 200-day moving average is $7.01. The company has a quick ratio of 407.64, a current ratio of 407.64 and a debt-to-equity ratio of 3.90. The company has a market capitalization of $489.00 million, a PE ratio of -4.09 and a beta of 0.82. KKR Real Estate Finance Trust has a 12-month low of $5.25 and a 12-month high of $9.98.

Analyst Ratings Changes

KREF has been the topic of a number of analyst reports. Zacks Research upgraded shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Friday. Citizens Jmp downgraded shares of KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, April 27th. Citigroup lowered shares of KKR Real Estate Finance Trust from a “neutral” rating to a “market perform” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. cut shares of KKR Real Estate Finance Trust from a “neutral” rating to an “underweight” rating and set a $6.00 price target on the stock. in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $8.30.

Insider Buying and Selling at KKR Real Estate Finance Trust

In other KKR Real Estate Finance Trust news, CEO Matthew A. Salem bought 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was acquired at an average price of $6.04 per share, with a total value of $362,400.00. Following the completion of the transaction, the chief executive officer owned 703,075 shares in the company, valued at approximately $4,246,573. This trade represents a 9.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO W Patrick Mattson purchased 40,000 shares of the stock in a transaction on Friday, April 24th. The stock was acquired at an average price of $6.03 per share, for a total transaction of $241,200.00. Following the completion of the purchase, the chief operating officer directly owned 500,287 shares in the company, valued at approximately $3,016,730.61. The trade was a 8.69% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.12% of the company’s stock.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of KKR Real Estate Finance Trust by 7.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,201,066 shares of the company’s stock valued at $10,810,000 after acquiring an additional 85,411 shares during the last quarter. Invesco Ltd. boosted its position in KKR Real Estate Finance Trust by 36.2% during the third quarter. Invesco Ltd. now owns 1,145,916 shares of the company’s stock valued at $10,313,000 after purchasing an additional 304,413 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in KKR Real Estate Finance Trust by 10.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,002,949 shares of the company’s stock valued at $8,244,000 after purchasing an additional 96,947 shares during the last quarter. Nomura Holdings Inc. bought a new position in KKR Real Estate Finance Trust in the third quarter valued at approximately $5,212,000. Finally, Wellington Management Group LLP grew its stake in KKR Real Estate Finance Trust by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 574,289 shares of the company’s stock valued at $4,721,000 after purchasing an additional 26,878 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

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.