KKR Real Estate Finance Trust (NYSE:KREF) Announces Earnings Results

KKR Real Estate Finance Trust (NYSE:KREF) released its earnings results on Tuesday. The company reported ($0.58) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.58), FiscalAI reports. The business had revenue of $29.34 million for the quarter, compared to analyst estimates of $24.97 million. KKR Real Estate Finance Trust had a negative net margin of 23.55% and a negative return on equity of 0.78%.

KKR Real Estate Finance Trust Stock Up 4.8%

Shares of NYSE KREF opened at $7.61 on Wednesday. The company has a market capitalization of $489.00 million, a P/E ratio of -4.09 and a beta of 0.82. 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 company has a 50 day simple moving average of $6.96 and a 200-day simple moving average of $7.01. KKR Real Estate Finance Trust has a 1 year low of $5.25 and a 1 year high of $9.98.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KREF. Wall Street Zen cut KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Zacks Research raised KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Friday. Citizens Jmp downgraded KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, April 27th. Finally, Keefe, Bruyette & Woods cut 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 research note on Friday, April 24th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, KKR Real Estate Finance Trust has a consensus rating of “Reduce” and an average target price of $8.30.

Insider Buying and Selling

In other KKR Real Estate Finance Trust news, CEO Matthew A. Salem acquired 60,000 shares of the stock in a transaction that occurred 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 owned 703,075 shares of the company’s stock, valued at approximately $4,246,573. The trade was a 9.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO W Patrick Mattson acquired 40,000 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was acquired at an average price 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 $3,016,730.61. This trade represents a 8.69% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.12% of the company’s stock.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

A number of hedge funds have recently modified their holdings of KREF. Millennium Management LLC increased its position 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 worth $3,815,000 after purchasing an additional 72,566 shares during the last quarter. Caxton Associates LLP acquired a new position in KKR Real Estate Finance Trust in the first quarter valued at about $288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in KKR Real Estate Finance Trust by 317.2% in the first 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 buying an additional 155,553 shares during the last quarter. Jane Street Group LLC boosted its stake in KKR Real Estate Finance Trust by 72.1% during the first quarter. Jane Street Group LLC now owns 172,162 shares of the company’s stock worth $1,859,000 after buying an additional 72,140 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in KKR Real Estate Finance Trust during the first quarter worth about $66,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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.