KKR Real Estate Finance Trust (NYSE:KREF) Stock Gets Price Target Cut from Keefe, Bruyette & Woods

KKR Real Estate Finance Trust (NYSE:KREF) had its target price reduced by Keefe, Bruyette & Woods from $7.00 to $6.50 in a research report sent to investors on Friday,Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts have also issued research reports about the stock. Citigroup reiterated a “market perform” rating on shares of KKR Real Estate Finance Trust in a research report on Tuesday, September 15th. Wall Street Zen downgraded shares of KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Raymond James Financial raised shares of KKR Real Estate Finance Trust from an “outperform” rating to a “strong-buy” rating and set a $9.50 price target for the company in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of KKR Real Estate Finance Trust from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.83.

KKR Real Estate Finance Trust Stock Performance

Shares of KREF stock opened at $5.99 on Friday. KKR Real Estate Finance Trust has a 1 year low of $5.25 and a 1 year high of $9.10. The firm has a market capitalization of $351.12 million, a PE ratio of -1.83 and a beta of 0.88. The stock has a fifty day moving average of $7.09 and a two-hundred day moving average of $6.87.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings results on Tuesday, July 21st. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.02). KKR Real Estate Finance Trust had a negative net margin of 47.33% and a negative return on equity of 1.53%. The business had revenue of $29.34 million for the quarter, compared to analyst estimates of $24.97 million. Equities research analysts predict that KKR Real Estate Finance Trust will post 0.28 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Wednesday, September 30th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -12.20%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in shares of KKR Real Estate Finance Trust by 56.0% in the third quarter. Versant Capital Management Inc now owns 5,038 shares of the company’s stock valued at $31,000 after buying an additional 1,809 shares in the last quarter. Whetstone Capital Advisors LLC lifted its position in shares of KKR Real Estate Finance Trust by 9.9% during the 4th quarter. Whetstone Capital Advisors LLC now owns 26,609 shares of the company’s stock valued at $219,000 after acquiring an additional 2,400 shares during the last quarter. Allworth Financial LP boosted its stake in shares of KKR Real Estate Finance Trust by 52.1% during the 2nd quarter. Allworth Financial LP now owns 7,937 shares of the company’s stock worth $54,000 after acquiring an additional 2,719 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of KKR Real Estate Finance Trust by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,902 shares of the company’s stock worth $55,000 after acquiring an additional 3,614 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of KKR Real Estate Finance Trust in the 2nd quarter worth $25,000. 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 real estate investment trust that originates, acquires and manages commercial real estate loans. The company primarily focuses on senior mortgage loans secured by institutional-quality properties, with an emphasis on transitional assets that may require renovation, leasing or other improvements.

KREF’s loan portfolio is generally backed by commercial properties across major U.S. markets. The underlying properties may include multifamily, office, hotel, industrial, life science, student housing and other commercial real estate assets.