KKR Real Estate Finance Trust (NYSE:KREF) Given Average Recommendation of “Reduce” by Analysts

Shares of KKR Real Estate Finance Trust (NYSE:KREF) have earned an average recommendation of “Reduce” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $8.40.

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on KKR Real Estate Finance Trust from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, April 24th. Weiss Ratings reissued a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research report on Tuesday, April 21st. Wall Street Zen downgraded KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Wells Fargo & Company reduced their target price on KKR Real Estate Finance Trust from $9.00 to $7.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Finally, Citizens Jmp downgraded KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a report on Monday, April 27th.

Insiders Place Their Bets

In other KKR Real Estate Finance Trust news, COO W Patrick Mattson bought 40,000 shares of KKR Real Estate Finance Trust stock in a transaction on Friday, April 24th. The shares were purchased at an average price of $6.03 per share, with a total value of $241,200.00. Following the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew A. Salem bought 60,000 shares of KKR Real Estate Finance Trust stock in a transaction on Friday, April 24th. The stock was acquired at an average cost of $6.04 per share, for a total transaction of $362,400.00. Following the acquisition, the chief executive officer owned 703,075 shares in the company, valued at approximately $4,246,573. This represents a 9.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.12% of the company’s stock.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

Large investors have recently modified their holdings of the business. Millennium Management LLC boosted its holdings in shares of KKR Real Estate Finance Trust by 25.9% during the 1st 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 in the last quarter. Caxton Associates LLP acquired a new stake in shares of KKR Real Estate Finance Trust during the 1st quarter valued at $288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 acquiring an additional 155,553 shares in the last quarter. Jane Street Group LLC boosted its holdings 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 acquiring an additional 72,140 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of KKR Real Estate Finance Trust during the 1st quarter valued at $66,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Trading Up 0.3%

Shares of NYSE:KREF opened at $6.94 on Monday. The company has a market capitalization of $446.37 million, a P/E ratio of -3.73 and a beta of 0.84. 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 debt-to-equity ratio of 3.90, a current ratio of 407.64 and a quick ratio of 407.64. The business’s 50 day simple moving average is $6.44 and its 200 day simple moving average is $7.31.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The company had revenue of $20.89 million for the quarter, compared to analyst estimates of $28.76 million. KKR Real Estate Finance Trust had a negative return on equity of 0.78% and a negative net margin of 23.55%. On average, research analysts anticipate that KKR Real Estate Finance Trust will post -1.63 EPS for the current fiscal year.

KKR Real Estate Finance Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, June 30th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is currently -21.51%.

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.