JPMorgan Chase & Co. Cuts KKR Real Estate Finance Trust (NYSE:KREF) Price Target to $7.50

KKR Real Estate Finance Trust (NYSE:KREF) had its price target trimmed by JPMorgan Chase & Co. from $8.00 to $7.50 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

Several other analysts have also recently commented on the stock. Zacks Research raised shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Wall Street Zen downgraded KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Keefe, Bruyette & Woods increased their price target on KKR Real Estate Finance Trust from $6.50 to $7.00 and gave the stock a “market perform” rating in a research note on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Friday, July 17th. Finally, Citigroup downgraded KKR Real Estate Finance Trust from a “neutral” rating to a “market perform” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $8.80.

KKR Real Estate Finance Trust Price Performance

KKR Real Estate Finance Trust stock opened at $7.29 on Friday. KKR Real Estate Finance Trust has a 12-month low of $5.25 and a 12-month high of $9.98. The stock has a market capitalization of $426.93 million, a P/E ratio of -2.22 and a beta of 0.82. The firm’s 50-day moving average is $7.01 and its two-hundred day moving average is $6.99. The company has a debt-to-equity ratio of 4.36, a current ratio of 407.64 and a quick ratio of 407.64.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings results on Tuesday, July 21st. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.02). 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 1.53% and a negative net margin of 47.33%. Equities analysts predict that KKR Real Estate Finance Trust will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC acquired a new stake in KKR Real Estate Finance Trust during the 1st quarter worth approximately $193,000. Parallel Advisors LLC lifted its position in KKR Real Estate Finance Trust by 92.0% during the first quarter. Parallel Advisors LLC now owns 13,838 shares of the company’s stock valued at $85,000 after buying an additional 6,630 shares in the last quarter. Optiver Holding B.V. acquired a new position in KKR Real Estate Finance Trust during the first quarter valued at approximately $148,000. Quantinno Capital Management LP grew its stake in KKR Real Estate Finance Trust by 88.0% during the first quarter. Quantinno Capital Management LP now owns 120,218 shares of the company’s stock worth $736,000 after buying an additional 56,272 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in KKR Real Estate Finance Trust during the first quarter worth approximately $285,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Company Profile

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.