Zacks Research Downgrades KKR Real Estate Finance Trust (NYSE:KREF) to Strong Sell

KKR Real Estate Finance Trust (NYSE:KREF) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

KREF has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research report on Tuesday, April 21st. BTIG Research cut shares of KKR Real Estate Finance Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. reduced their target price on shares of KKR Real Estate Finance Trust from $8.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Citizens Jmp cut shares of KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, April 27th. Finally, Wall Street Zen cut shares of KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. 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. According to MarketBeat.com, KKR Real Estate Finance Trust presently has a consensus rating of “Reduce” and an average target price of $8.40.

KKR Real Estate Finance Trust Stock Performance

Shares of NYSE KREF opened at $6.39 on Monday. The company’s fifty day moving average price is $6.52 and its 200 day moving average price is $7.52. KKR Real Estate Finance Trust has a 1 year low of $5.25 and a 1 year high of $9.98. The company has a market capitalization of $410.75 million, a PE ratio of -3.43 and a beta of 0.81. The company has a debt-to-equity ratio of 3.90, a quick ratio of 407.64 and a current ratio of 407.64.

KKR Real Estate Finance Trust (NYSE:KREF) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). The company had revenue of $20.89 million for the quarter, compared to analysts’ expectations of $28.76 million. KKR Real Estate Finance Trust had a negative net margin of 23.55% and a negative return on equity of 0.78%. On average, research analysts predict that KKR Real Estate Finance Trust will post -1.09 earnings per share for the current year.

Insider Activity at KKR Real Estate Finance Trust

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

Institutional Trading of KKR Real Estate Finance Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its holdings in KKR Real Estate Finance Trust by 210.5% during the fourth quarter. Hantz Financial Services Inc. now owns 3,099 shares of the company’s stock worth $25,000 after purchasing an additional 2,101 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in KKR Real Estate Finance Trust by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company’s stock worth $30,000 after purchasing an additional 1,725 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in KKR Real Estate Finance Trust by 178.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company’s stock worth $29,000 after purchasing an additional 2,266 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in KKR Real Estate Finance Trust by 742.0% during the second quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company’s stock worth $36,000 after purchasing an additional 3,658 shares in the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in KKR Real Estate Finance Trust during the third quarter worth approximately $48,000. Institutional investors and hedge funds 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.