KKR Real Estate Finance Trust (NYSE:KREF) Stock Has Consensus Price Target of $8.83 According to Brokerages

Key Points

• Analysts maintain a “Hold” consensus on KKR Real Estate Finance Trust, with two sells, five holds, one buy and one strong buy. The average 12-month price target is $8.83, above the stock’s reported $5.99 price.
• Institutional ownership is significant at 70.23%, with BlackRock purchasing approximately $40.3 million in shares and several other investors establishing new positions.
• KREF announced a quarterly dividend of $0.10 per share, equating to an annualized $0.40 payout and a 6.7% yield. Its latest quarterly EPS of negative $0.58 missed estimates, while revenue exceeded forecasts.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) has been given an average rating of "Hold" by the nine brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.83.

A number of research firms have issued reports on KREF. Raymond James Financial upgraded shares of KKR Real Estate Finance Trust from an "outperform" rating to a "strong-buy" rating and set a $9.50 target price on the stock in a report on Thursday, August 6th. Zacks Research upgraded shares of KKR Real Estate Finance Trust from a "strong sell" rating to a "hold" rating in a research note 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 report on Sunday, July 12th. Keefe, Bruyette & Woods lowered their price target on shares of KKR Real Estate Finance Trust from $7.00 to $6.50 and set a "market perform" rating for the company in a report on Friday. Finally, Citigroup reiterated a "market perform" rating on shares of KKR Real Estate Finance Trust in a report on Tuesday, September 15th.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

Institutional investors have recently modified their holdings of the company. Conversant Capital LLC acquired a new stake in shares of KKR Real Estate Finance Trust during the 1st quarter worth about $9,000,000. Endure Capital Management LLC acquired a new stake in KKR Real Estate Finance Trust during the 1st quarter worth $1,545,000. Bank of America Corp DE acquired a new stake in shares of KKR Real Estate Finance Trust during the second quarter worth about $2,744,000. Corient Private Wealth LP acquired a new stake in KKR Real Estate Finance Trust during the 2nd quarter worth approximately $1,321,000. Finally, BlackRock Inc. purchased a new position in KKR Real Estate Finance Trust in the 2nd quarter valued at $40,349,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

KKR Real Estate Finance Trust Stock Performance

KKR Real Estate Finance Trust stock opened at $5.99 on Friday. The company has a market capitalization of $351.13 million, a price-to-earnings ratio of -1.83 and a beta of 0.88. KKR Real Estate Finance Trust has a 1 year low of $5.25 and a 1 year high of $9.10. The company's 50 day simple moving average is $7.09 and its 200-day simple moving average is $6.87.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last released 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 return on equity of 1.53% and a negative net margin of 47.33%. The firm had revenue of $29.34 million for the quarter, compared to analyst estimates of $24.97 million. Equities analysts expect that KKR Real Estate Finance Trust will post 0.28 earnings per share for the current year.

KKR Real Estate Finance Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Wednesday, September 30th. KKR Real Estate Finance Trust's payout ratio is -12.20%.

KKR Real Estate Finance Trust Company Profile

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.

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