Everence Capital Management Inc. Trims Position in KKR Real Estate Finance Trust Inc. (NYSE:KREF)

Everence Capital Management Inc. trimmed its position in KKR Real Estate Finance Trust Inc. (NYSE:KREF) by 40.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,850 shares of the company’s stock after selling 9,310 shares during the period. Everence Capital Management Inc.’s holdings in KKR Real Estate Finance Trust were worth $171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KREF. Future Financial Wealth Managment LLC bought a new stake in KKR Real Estate Finance Trust in the third quarter worth $25,000. EntryPoint Capital LLC purchased a new stake in KKR Real Estate Finance Trust during the first quarter valued at $54,000. Diversified Trust Co purchased a new stake in KKR Real Estate Finance Trust in the first quarter worth about $101,000. SG Americas Securities LLC purchased a new stake in KKR Real Estate Finance Trust in the second quarter worth about $138,000. Finally, Price T Rowe Associates Inc. MD increased its position in KKR Real Estate Finance Trust by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,846 shares of the company’s stock worth $170,000 after buying an additional 2,481 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

KKR Real Estate Finance Trust Stock Performance

NYSE KREF opened at $11.68 on Wednesday. The stock has a market capitalization of $809.59 million, a price-to-earnings ratio of -25.39 and a beta of 0.99. KKR Real Estate Finance Trust Inc. has a twelve month low of $8.71 and a twelve month high of $14.12. The company has a current ratio of 392.62, a quick ratio of 392.62 and a debt-to-equity ratio of 3.86. The stock has a 50-day moving average of $11.93 and a 200 day moving average of $10.55.

KKR Real Estate Finance Trust (NYSE:KREF) last announced its earnings results on Monday, October 21st. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. KKR Real Estate Finance Trust had a return on equity of 9.88% and a net margin of 5.88%. The business had revenue of $140.15 million during the quarter, compared to analysts’ expectations of $39.52 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Sell-side analysts anticipate that KKR Real Estate Finance Trust Inc. will post 1.35 EPS for the current fiscal year.

KKR Real Estate Finance Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.56%. KKR Real Estate Finance Trust’s dividend payout ratio is currently -217.39%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company increased their target price on KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Raymond James raised their price objective on KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Keefe, Bruyette & Woods raised KKR Real Estate Finance Trust from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $11.50 to $13.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on KKR Real Estate Finance Trust from $11.50 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, BTIG Research reissued a “buy” rating and set a $11.50 price target on shares of KKR Real Estate Finance Trust in a research note on Friday, July 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

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.