Brokerages Set KKR Real Estate Finance Trust (NYSE:KREF) Target Price at $8.40

KKR Real Estate Finance Trust (NYSE:KREF) has been given an average rating of “Reduce” by the eight analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.40.

A number of equities analysts have recently commented on the company. Wells Fargo & Company lowered their price target on KKR Real Estate Finance Trust from $9.00 to $7.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. JPMorgan Chase & Co. lowered their price target on shares of KKR Real Estate Finance Trust from $8.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, April 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Tuesday, April 21st. BTIG Research lowered KKR Real Estate Finance Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods lowered their target price on KKR Real Estate Finance Trust from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, April 24th.

KKR Real Estate Finance Trust Stock Performance

NYSE KREF opened at $6.39 on Thursday. The firm’s 50 day simple moving average is $6.41 and its 200 day simple moving average is $7.43. The firm has a market capitalization of $410.56 million, a price-to-earnings ratio of -3.43 and a beta of 0.81. The company has a current ratio of 407.64, a quick ratio of 407.64 and a debt-to-equity ratio of 3.90. KKR Real Estate Finance Trust has a 1 year low of $5.25 and a 1 year high of $9.98.

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

KKR Real Estate Finance Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 6.3%. KKR Real Estate Finance Trust’s dividend payout ratio is currently -53.76%.

Insider Buying and Selling

In other KKR Real Estate Finance Trust news, COO W Patrick Mattson bought 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were bought at an average price of $6.03 per share, for a total transaction of $241,200.00. Following the transaction, the chief operating officer directly owned 500,287 shares in the company, valued at approximately $3,016,730.61. This trade represents a 8.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew A. Salem bought 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were 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 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. 2.12% of the stock is owned by company insiders.

Institutional Trading of KKR Real Estate Finance Trust

Several large investors have recently modified their holdings of KREF. Geneos Wealth Management Inc. lifted its position in shares of 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 acquiring an additional 1,725 shares during the period. Cura Wealth Advisors LLC grew its holdings in KKR Real Estate Finance Trust by 2.0% in the fourth quarter. Cura Wealth Advisors LLC now owns 100,672 shares of the company’s stock worth $828,000 after purchasing an additional 1,976 shares during the period. Hantz Financial Services Inc. increased its stake in KKR Real Estate Finance Trust by 210.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,099 shares of the company’s stock valued at $25,000 after purchasing an additional 2,101 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in KKR Real Estate Finance Trust by 64.1% in the second quarter. Tower Research Capital LLC TRC now owns 5,732 shares of the company’s stock valued at $50,000 after purchasing an additional 2,238 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $29,000 after purchasing an additional 2,266 shares during the period. 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.