Bank of New York Mellon Corp Has $1 Million Position in KKR Real Estate Finance Trust $KREF

Key Points

• Bank of New York Mellon cut its KKR Real Estate Finance Trust stake by 46.4% in the first quarter, selling 141,948 shares and retaining 163,743 shares worth approximately $1.0 million. Institutional investors collectively own 70.23% of KREF.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $8.92. Raymond James upgraded the stock to “Strong Buy,” while Citigroup downgraded it to “Market Perform.”
• KREF reported a quarterly loss of $0.58 per share, slightly below estimates, despite revenue of $29.34 million exceeding expectations. Shares opened at $7.80, compared with a 52-week range of $5.25 to $9.98.

Bank of New York Mellon Corp lessened its holdings in shares of KKR Real Estate Finance Trust (NYSE:KREF - Free Report) by 46.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,743 shares of the company's stock after selling 141,948 shares during the period. Bank of New York Mellon Corp owned approximately 0.25% of KKR Real Estate Finance Trust worth $1,002,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of KREF. Hantz Financial Services Inc. raised its holdings in KKR Real Estate Finance Trust by 210.5% during the 4th quarter. Hantz Financial Services Inc. now owns 3,099 shares of the company's stock worth $25,000 after buying an additional 2,101 shares during the period. Geneos Wealth Management Inc. increased its position in shares of KKR Real Estate Finance Trust by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company's stock worth $30,000 after acquiring an additional 1,725 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of KKR Real Estate Finance Trust by 178.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company's stock worth $29,000 after acquiring an additional 2,266 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of KKR Real Estate Finance Trust by 742.0% during the second quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company's stock worth $36,000 after acquiring an additional 3,658 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of KKR Real Estate Finance Trust by 64.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,732 shares of the company's stock worth $50,000 after acquiring an additional 2,238 shares during the period. 70.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup cut KKR Real Estate Finance Trust from a "neutral" rating to a "market perform" rating in a report on Monday, April 27th. Zacks Research raised KKR Real Estate Finance Trust from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th. Raymond James Financial upgraded KKR Real Estate Finance Trust from an "outperform" rating to a "strong-buy" rating and set a $9.50 price objective for the company in a report on Thursday, August 6th. Wells Fargo & Company dropped their target price 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. Finally, Keefe, Bruyette & Woods boosted their target price on KKR Real Estate Finance Trust from $6.50 to $7.00 and gave the company a "market perform" rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $8.92.

KKR Real Estate Finance Trust Stock Performance

Shares of NYSE KREF opened at $7.80 on Friday. The stock has a 50 day moving average price of $7.24 and a 200 day moving average price of $6.93. KKR Real Estate Finance Trust has a 52 week low of $5.25 and a 52 week high of $9.98. The company has a debt-to-equity ratio of 4.36, a quick ratio of 407.64 and a current ratio of 407.64. The stock has a market capitalization of $457.22 million, a PE ratio of -2.38 and a beta of 0.82.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.02). The company had revenue of $29.34 million during the quarter, compared to the consensus estimate of $24.97 million. KKR Real Estate Finance Trust had a negative net margin of 47.33% and a negative return on equity of 1.53%. Analysts predict that KKR Real Estate Finance Trust will post 0.28 earnings per share for the current fiscal year.

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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