KKR Real Estate Finance Trust (NYSE:KREF) Releases Quarterly Earnings Results, Misses Expectations By $2.33 EPS

KKR Real Estate Finance Trust (NYSE:KREF) released its earnings results on Wednesday. The company reported ($2.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($2.33), FiscalAI reports. KKR Real Estate Finance Trust had a negative return on equity of 1.53% and a negative net margin of 47.33%. The company had revenue of $24.55 million during the quarter, compared to analyst estimates of $18.42 million.

KKR Real Estate Finance Trust Price Performance

NYSE KREF traded down $0.30 during mid-day trading on Wednesday, hitting $5.63. The company’s stock had a trading volume of 937,648 shares, compared to its average volume of 1,165,854. KKR Real Estate Finance Trust has a 52-week low of $5.25 and a 52-week high of $9.10. The stock’s fifty day simple moving average is $6.67 and its two-hundred day simple moving average is $6.94. The firm has a market capitalization of $330.10 million, a P/E ratio of -1.72 and a beta of 0.88.

KKR Real Estate Finance Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.10 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.40 annualized dividend and a yield of 7.1%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -12.20%.

Wall Street Analyst Weigh In

KREF has been the topic of a number of recent analyst reports. Zacks Research raised shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods dropped their price objective on KKR Real Estate Finance Trust from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, October 9th. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Thursday, October 15th. Raymond James Financial raised KKR Real Estate Finance Trust from an “outperform” rating to a “strong-buy” rating and set a $9.50 target price on the stock in a research report on Thursday, August 6th. Finally, Citigroup reiterated a “market perform” rating on shares of KKR Real Estate Finance Trust in a report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.83.

KKR Real Estate Finance Trust Company Profile

KKR Real Estate Finance Trust Inc (NYSE: KREF) is a real estate investment trust that originates and acquires commercial real estate loans. The company primarily focuses on senior loans secured by institutional-quality properties, including office, multifamily, industrial, hospitality and other commercial real estate assets.

KREF’s investment portfolio is generally composed of floating-rate mortgage loans backed by properties in major U.S. markets. Its financing activities are designed to provide borrowers with capital for property acquisitions, refinancing, redevelopment and other commercial real estate needs.

The company is externally managed by an affiliate of KKR & Co Inc, a global investment firm with real estate investment capabilities.