KKR Real Estate Finance Trust (NYSE:KREF) Receives $8.92 Consensus Price Target from Brokerages

KKR Real Estate Finance Trust (NYSE:KREF) has earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $8.9167.

KREF has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of KKR Real Estate Finance Trust from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, July 24th. Raymond James Financial upgraded shares of KKR Real Estate Finance Trust from an “outperform” rating to a “strong-buy” rating and set a $9.50 price target for the company in a research note on Thursday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Friday, July 17th. Keefe, Bruyette & Woods increased their price objective on shares of KKR Real Estate Finance Trust from $6.50 to $7.00 and gave the company a “market perform” rating in a research report on Thursday, July 23rd. Finally, Zacks Research upgraded shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th.

KKR Real Estate Finance Trust Stock Performance

Shares of KREF opened at $7.60 on Friday. The company has a market cap of $445.21 million, a price-to-earnings ratio of -2.32 and a beta of 0.82. The business’s fifty day simple moving average is $7.33 and its two-hundred day simple moving average is $6.90. KKR Real Estate Finance Trust has a 12 month low of $5.25 and a 12 month high of $9.98. The company has a current ratio of 407.64, a quick ratio of 407.64 and a debt-to-equity ratio of 4.36.

KKR Real Estate Finance Trust (NYSE:KREF) last posted its quarterly earnings results on Tuesday, July 21st. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.02). The business had revenue of $29.34 million during 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%. Research analysts anticipate that KKR Real Estate Finance Trust will post 0.28 earnings per share for the current fiscal year.

Institutional Trading of KKR Real Estate Finance Trust

Several large investors have recently modified their holdings of the company. Millennium Management LLC increased its position in KKR Real Estate Finance Trust by 25.9% during the first quarter. Millennium Management LLC now owns 353,216 shares of the company’s stock valued at $3,815,000 after acquiring an additional 72,566 shares during the last quarter. Caxton Associates LLP purchased a new position in KKR Real Estate Finance Trust in the first quarter worth about $288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of KKR Real Estate Finance Trust by 317.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,589 shares of the company’s stock valued at $2,210,000 after purchasing an additional 155,553 shares during the period. Jane Street Group LLC grew its stake in shares of KKR Real Estate Finance Trust by 72.1% during the 1st quarter. Jane Street Group LLC now owns 172,162 shares of the company’s stock valued at $1,859,000 after purchasing an additional 72,140 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of KKR Real Estate Finance Trust during the 1st quarter valued at about $66,000. 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.