Dark Forest Capital Management LP acquired a new position in shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,768 shares of the company's stock, valued at approximately $301,000.
A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of KKR Real Estate Finance Trust by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,373,685 shares of the company's stock worth $13,878,000 after buying an additional 18,535 shares during the last quarter. JPMorgan Chase & Co. boosted its position in KKR Real Estate Finance Trust by 31.7% during the fourth quarter. JPMorgan Chase & Co. now owns 728,875 shares of the company's stock valued at $7,362,000 after purchasing an additional 175,603 shares during the last quarter. Wellington Management Group LLP bought a new position in KKR Real Estate Finance Trust in the fourth quarter valued at approximately $5,350,000. Principal Financial Group Inc. raised its stake in shares of KKR Real Estate Finance Trust by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 283,897 shares of the company's stock worth $2,867,000 after purchasing an additional 8,873 shares in the last quarter. Finally, Condor Capital Management grew its position in shares of KKR Real Estate Finance Trust by 70.2% in the 4th quarter. Condor Capital Management now owns 251,273 shares of the company's stock valued at $2,538,000 after acquiring an additional 103,654 shares during the period. 70.23% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have issued reports on KREF shares. JMP Securities dropped their price objective on KKR Real Estate Finance Trust from $13.00 to $12.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. cut their price target on KKR Real Estate Finance Trust from $11.50 to $9.50 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut shares of KKR Real Estate Finance Trust from an "outperform" rating to a "market perform" rating and set a $10.75 price objective for the company. in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, KKR Real Estate Finance Trust presently has a consensus rating of "Moderate Buy" and an average target price of $11.88.
Get Our Latest Report on KKR Real Estate Finance Trust
KKR Real Estate Finance Trust Stock Performance
NYSE KREF traded up $0.13 on Friday, reaching $9.23. The stock had a trading volume of 465,848 shares, compared to its average volume of 501,802. KKR Real Estate Finance Trust Inc. has a 1-year low of $8.28 and a 1-year high of $12.95. The company has a debt-to-equity ratio of 3.50, a current ratio of 296.16 and a quick ratio of 296.16. The company has a market cap of $625.85 million, a P/E ratio of 51.28 and a beta of 0.95. The firm has a fifty day moving average of $10.09 and a two-hundred day moving average of $10.70.
KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.32). The firm had revenue of $31.34 million during the quarter, compared to analyst estimates of $34.77 million. KKR Real Estate Finance Trust had a net margin of 6.30% and a return on equity of 8.53%. On average, equities research analysts anticipate that KKR Real Estate Finance Trust Inc. will post 1.05 EPS for the current year.
KKR Real Estate Finance Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.83%. The ex-dividend date was Monday, March 31st. KKR Real Estate Finance Trust's dividend payout ratio (DPR) is presently 625.00%.
About KKR Real Estate Finance Trust
(
Free Report)
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.
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