KKR Real Estate Finance Trust (NYSE:KREF) Given New $5.50 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut KREF’s price target from $6.50 to $5.50 while maintaining a “market perform” rating, implying approximately 4.46% upside from the prior close.
• Analyst sentiment remains cautious: KREF has an average “Hold” rating and an average price target of $8.67, based on one Strong Buy, one Buy, five Holds and two Sell ratings.
• KREF shares opened at $5.26 and remain near their 52-week low of $4.93; institutional investors and hedge funds own approximately 70.23% of the company.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) had its price objective cut by equities research analysts at Keefe, Bruyette & Woods from $6.50 to $5.50 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods's target price would suggest a potential upside of 4.46% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. Zacks Research raised shares of KKR Real Estate Finance Trust from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th. Wall Street Zen cut shares of KKR Real Estate Finance Trust from a "sell" rating to a "strong sell" rating in a research report on Sunday, July 12th. Weiss Ratings reissued a "sell (d)" rating on shares of KKR Real Estate Finance Trust in a research report on Thursday, October 15th. JPMorgan Chase & Co. decreased their target price on KKR Real Estate Finance Trust from $8.00 to $7.50 and set an "underweight" rating for the company in a research report on Friday, July 24th. Finally, Citigroup reiterated a "market perform" rating on shares of KKR Real Estate Finance Trust in a research note on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $8.67.

KKR Real Estate Finance Trust Stock Down 0.5%

Shares of NYSE:KREF opened at $5.26 on Tuesday. KKR Real Estate Finance Trust has a 52-week low of $4.93 and a 52-week high of $9.10. The company has a market capitalization of $308.42 million, a P/E ratio of -1.50 and a beta of 0.88. The stock's fifty day simple moving average is $6.51 and its 200-day simple moving average is $6.89.

Institutional Trading of KKR Real Estate Finance Trust

A number of hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in KKR Real Estate Finance Trust in the second quarter valued at about $25,000. Versant Capital Management Inc raised its position in shares of KKR Real Estate Finance Trust by 56.0% during the 3rd quarter. Versant Capital Management Inc now owns 5,038 shares of the company's stock worth $31,000 after purchasing an additional 1,809 shares during the period. Fifth Third Bancorp grew its position in shares of KKR Real Estate Finance Trust by 5,654.7% during the first quarter. Fifth Third Bancorp now owns 6,100 shares of the company's stock worth $37,000 after acquiring an additional 5,994 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of KKR Real Estate Finance Trust during the second quarter valued at approximately $37,000. Finally, Pinnacle Wealth Planning Services Inc. boosted its position in KKR Real Estate Finance Trust by 611.0% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 6,740 shares of the company's stock worth $42,000 after acquiring an additional 5,792 shares during the period. 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 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.

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