KKR Real Estate Finance Trust (NYSE:KREF) Trading 8.6% Higher on Better-Than-Expected Earnings

KKR Real Estate Finance Trust Inc. (NYSE:KREF) was up 8.6% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $10.80 and last traded at $10.91. Approximately 365,174 shares traded hands during trading, a decline of 16% from the average daily volume of 434,184 shares. The stock had previously closed at $10.05.

The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.20. KKR Real Estate Finance Trust had a return on equity of 9.46% and a net margin of 0.40%.

KKR Real Estate Finance Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.86%. The ex-dividend date of this dividend was Tuesday, December 31st. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -333.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KREF shares. Keefe, Bruyette & Woods decreased their price objective on KKR Real Estate Finance Trust from $13.00 to $12.25 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price target on KKR Real Estate Finance Trust from $11.50 to $10.50 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. JMP Securities lifted their price objective on KKR Real Estate Finance Trust from $12.50 to $13.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Finally, Raymond James dropped their target price on shares of KKR Real Estate Finance Trust from $14.00 to $13.50 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, KKR Real Estate Finance Trust presently has an average rating of “Buy” and an average price target of $12.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KREF. Illinois Municipal Retirement Fund lifted its position in shares of KKR Real Estate Finance Trust by 6.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 31,711 shares of the company’s stock worth $320,000 after purchasing an additional 1,842 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of KKR Real Estate Finance Trust in the 4th quarter valued at $159,000. Principal Financial Group Inc. raised its position in shares of KKR Real Estate Finance Trust by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 283,897 shares of the company’s stock worth $2,867,000 after acquiring an additional 8,873 shares during the last quarter. Rhumbline Advisers boosted its holdings in KKR Real Estate Finance Trust by 1.2% in the fourth quarter. Rhumbline Advisers now owns 175,092 shares of the company’s stock valued at $1,768,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Drive Wealth Management LLC raised its holdings in KKR Real Estate Finance Trust by 18.8% during the 4th quarter. Drive Wealth Management LLC now owns 84,718 shares of the company’s stock worth $877,000 after purchasing an additional 13,432 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Stock Performance

The firm’s 50-day moving average price is $10.62 and its 200 day moving average price is $11.32. The company has a market cap of $785.10 million, a price-to-earnings ratio of -37.62 and a beta of 1.00. The company has a debt-to-equity ratio of 3.75, a quick ratio of 277.63 and a current ratio of 277.63.

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.