KKR Real Estate Finance Trust (NYSE:KREF) Cut to “Underweight” at JPMorgan Chase & Co.

KKR Real Estate Finance Trust (NYSE:KREF) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They currently have a $6.00 price objective on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 21.08% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Citigroup lowered shares of KKR Real Estate Finance Trust from a “neutral” rating to a “market perform” rating in a research note on Monday, April 27th. Wells Fargo & Company reduced their price objective on shares of KKR Real Estate Finance Trust from $9.00 to $7.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Weiss Ratings reissued a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research report on Tuesday, April 21st. Zacks Research raised shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods cut their target price on shares of KKR Real Estate Finance Trust from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, KKR Real Estate Finance Trust has an average rating of “Reduce” and a consensus price target of $8.30.

KKR Real Estate Finance Trust Trading Up 2.5%

Shares of KREF opened at $7.60 on Friday. KKR Real Estate Finance Trust has a one year low of $5.25 and a one year high of $9.98. The stock has a 50-day moving average price of $6.90 and a 200 day moving average price of $7.03. The company has a debt-to-equity ratio of 3.90, a quick ratio of 407.64 and a current ratio of 407.64. The company has a market capitalization of $488.87 million, a P/E ratio of -4.09 and a beta of 0.82.

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). KKR Real Estate Finance Trust had a negative return on equity of 0.78% and a negative net margin of 23.55%.The business had revenue of $20.89 million for the quarter, compared to analysts’ expectations of $28.76 million. Sell-side analysts forecast that KKR Real Estate Finance Trust will post -1.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO W Patrick Mattson bought 40,000 shares of the company’s stock in a transaction on Friday, April 24th. The shares were purchased at an average cost of $6.03 per share, with a total value of $241,200.00. Following the completion of the transaction, the chief operating officer directly owned 500,287 shares of the company’s stock, valued at approximately $3,016,730.61. This represents a 8.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew A. Salem bought 60,000 shares of the company’s stock in a transaction on Friday, April 24th. The stock was bought at an average cost of $6.04 per share, for a total transaction of $362,400.00. Following the completion of the transaction, the chief executive officer directly owned 703,075 shares of the company’s stock, valued at $4,246,573. This trade represents a 9.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.12% of the company’s stock.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. grew its position in shares of 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 acquiring an additional 2,101 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in KKR Real Estate Finance Trust by 178.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company’s stock valued at $29,000 after purchasing an additional 2,266 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in KKR Real Estate Finance Trust by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company’s stock valued at $30,000 after purchasing an additional 1,725 shares during the period. EverSource Wealth Advisors LLC boosted its stake in KKR Real Estate Finance Trust by 742.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company’s stock valued at $36,000 after purchasing an additional 3,658 shares during the period. Finally, Fifth Third Bancorp grew its position in KKR Real Estate Finance Trust by 5,654.7% in the 1st quarter. Fifth Third Bancorp now owns 6,100 shares of the company’s stock worth $37,000 after purchasing an additional 5,994 shares during the last quarter. 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.