Brokerages Set KKR Real Estate Finance Trust Inc. (NYSE:KREF) PT at $11.64

Shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $12.14.

KREF has been the topic of several research reports. Wells Fargo & Company raised their price objective on KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday. BTIG Research restated a “buy” rating and set a $11.50 target price on shares of KKR Real Estate Finance Trust in a research note on Friday, July 19th. Raymond James lifted their price target on KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday. Keefe, Bruyette & Woods upgraded KKR Real Estate Finance Trust from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $11.50 to $13.00 in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. decreased their target price on KKR Real Estate Finance Trust from $10.00 to $9.50 and set an “overweight” rating for the company in a research note on Tuesday, July 16th.

KKR Real Estate Finance Trust Trading Down 1.9 %

NYSE:KREF opened at $12.61 on Friday. The business’s 50-day moving average is $11.39 and its two-hundred day moving average is $10.24. The company has a debt-to-equity ratio of 3.86, a current ratio of 392.62 and a quick ratio of 392.62. KKR Real Estate Finance Trust has a 12 month low of $8.71 and a 12 month high of $14.12. The firm has a market capitalization of $874.05 million, a PE ratio of -27.41 and a beta of 0.99.

KKR Real Estate Finance Trust (NYSE:KREF) last released its quarterly earnings data on Monday, July 22nd. The company reported ($1.57) EPS for the quarter, missing the consensus estimate of $0.30 by ($1.87). KKR Real Estate Finance Trust had a net margin of 5.88% and a return on equity of 9.88%. The company had revenue of $47.60 million during the quarter, compared to analysts’ expectations of $45.47 million. During the same period last year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. Research analysts predict that KKR Real Estate Finance Trust will post 1.35 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.93%. The ex-dividend date is Monday, September 30th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -217.39%.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

A number of hedge funds have recently modified their holdings of KREF. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of KKR Real Estate Finance Trust by 9.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,148,784 shares of the company’s stock worth $21,617,000 after acquiring an additional 178,603 shares during the last quarter. TrueMark Investments LLC acquired a new position in shares of KKR Real Estate Finance Trust in the second quarter worth $1,305,000. Charles Schwab Investment Management Inc. increased its position in KKR Real Estate Finance Trust by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 804,214 shares of the company’s stock worth $10,640,000 after buying an additional 104,360 shares during the last quarter. Van ECK Associates Corp increased its position in KKR Real Estate Finance Trust by 31.2% during the second quarter. Van ECK Associates Corp now owns 356,891 shares of the company’s stock worth $3,230,000 after buying an additional 84,889 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in KKR Real Estate Finance Trust by 45.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 212,100 shares of the company’s stock worth $2,134,000 after buying an additional 66,716 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

About KKR Real Estate Finance Trust

KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on originating and acquiring transitional senior loans secured by commercial real estate (CRE) assets. It engages in the origination and purchase of credit investments related to CRE, including leveraged and unleveraged commercial real estate loans.