261,690 Shares in KKR Real Estate Finance Trust $KREF Bought by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd bought 261,690 shares of KKR Real Estate Finance Trust in the first quarter, a stake valued at about $1.6 million and representing roughly 0.41% of the company.
• KKR Real Estate Finance Trust reported a weaker-than-expected quarterly loss, posting EPS of -$0.06 versus the expected $0.11 profit, while revenue also missed analyst estimates.
• The company cut its dividend to $0.10 per share quarterly, yielding about 5.5%, even as several insiders bought shares and analysts maintained a cautious outlook with a consensus rating of “Reduce.”

Y Intercept Hong Kong Ltd purchased a new stake in KKR Real Estate Finance Trust (NYSE:KREF - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 261,690 shares of the company's stock, valued at approximately $1,602,000. Y Intercept Hong Kong Ltd owned approximately 0.41% of KKR Real Estate Finance Trust at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in KKR Real Estate Finance Trust by 7.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,201,066 shares of the company's stock worth $10,810,000 after buying an additional 85,411 shares during the last quarter. Invesco Ltd. boosted its position in shares of KKR Real Estate Finance Trust by 36.2% during the 3rd quarter. Invesco Ltd. now owns 1,145,916 shares of the company's stock worth $10,313,000 after acquiring an additional 304,413 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of KKR Real Estate Finance Trust by 10.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,002,949 shares of the company's stock valued at $8,244,000 after acquiring an additional 96,947 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of KKR Real Estate Finance Trust in the 3rd quarter valued at about $5,212,000. Finally, Wellington Management Group LLP raised its position in shares of KKR Real Estate Finance Trust by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 574,289 shares of the company's stock worth $4,721,000 after acquiring an additional 26,878 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

KKR Real Estate Finance Trust Price Performance

KREF stock opened at $7.23 on Friday. The company has a debt-to-equity ratio of 3.90, a quick ratio of 407.64 and a current ratio of 407.64. The stock's 50 day moving average price is $6.80 and its 200 day moving average price is $7.07. The firm has a market cap of $464.70 million, a P/E ratio of -3.89 and a beta of 0.82. KKR Real Estate Finance Trust has a 1 year low of $5.25 and a 1 year high of $9.98.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). KKR Real Estate Finance Trust had a negative net margin of 23.55% and a negative return on equity of 0.78%. The firm had revenue of $20.89 million for the quarter, compared to analysts' expectations of $28.76 million. On average, sell-side analysts expect that KKR Real Estate Finance Trust will post -1.63 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, June 30th. KKR Real Estate Finance Trust's payout ratio is currently -21.51%.

Insider Buying and Selling at KKR Real Estate Finance Trust

In other KKR Real Estate Finance Trust news, CEO Matthew A. Salem bought 60,000 shares of the stock in a transaction dated Friday, April 24th. The stock was bought at an average cost of $6.04 per share, for a total transaction of $362,400.00. Following the completion of the purchase, the chief executive officer directly owned 703,075 shares of the company's stock, valued at approximately $4,246,573. The trade was a 9.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO W Patrick Mattson bought 40,000 shares of the business's stock in a transaction on Friday, April 24th. The stock was acquired at an average cost of $6.03 per share, for a total transaction of $241,200.00. Following the completion of the transaction, the chief operating officer owned 500,287 shares in the company, valued at $3,016,730.61. This represents a 8.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods reduced their target price on KKR Real Estate Finance Trust from $7.00 to $6.00 and set a "market perform" rating for the company in a report on Friday, April 24th. Citizens Jmp downgraded KKR Real Estate Finance Trust from an "outperform" rating to a "market perform" rating in a research note on Monday, April 27th. Wells Fargo & Company cut their price target on KKR Real Estate Finance Trust from $9.00 to $7.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 28th. Zacks Research cut KKR Real Estate Finance Trust from a "hold" rating to a "strong sell" rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of KKR Real Estate Finance Trust from $8.00 to $6.50 and set a "neutral" rating on the stock in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $8.40.

KKR Real Estate Finance Trust Profile

KKR Real Estate Finance Trust, Inc NYSE: KREF is a mortgage real estate investment trust sponsored by KKR & Co Inc The company focuses on originating, acquiring, financing and managing a diversified portfolio of commercial real estate debt and real estate-related assets across the United States and select European markets.

The trust's investment strategy is centered on lending to high-quality office, industrial, retail, multifamily and hotel properties. Its portfolio primarily consists of senior mortgage loans, mezzanine loans, floating-rate debt securities and preferred equity positions.

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