Bank of New York Mellon Corp Invests $1.22 Million in KKR Real Estate Finance Trust $KREF

Key Points

• Bank of New York Mellon acquired 178,361 shares of KKR Real Estate Finance Trust, valued at approximately $1.22 million, representing about 0.30% of the company.
• Institutional investors own 70.23% of KREF, while analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $8.92.
• KREF shares opened at $7.37, and the company recently reported a quarterly loss of $0.58 per share, missing estimates by $0.02, despite revenue of $29.34 million exceeding expectations.

Bank of New York Mellon Corp purchased a new position in KKR Real Estate Finance Trust (NYSE:KREF - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 178,361 shares of the company's stock, valued at approximately $1,220,000. Bank of New York Mellon Corp owned approximately 0.30% of KKR Real Estate Finance Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Kelleher Financial Advisors purchased a new position in KKR Real Estate Finance Trust in the 2nd quarter worth $48,000. Empowered Funds LLC purchased a new position in KKR Real Estate Finance Trust during the 1st quarter worth approximately $193,000. Parallel Advisors LLC boosted its holdings in shares of KKR Real Estate Finance Trust by 92.0% in the 1st quarter. Parallel Advisors LLC now owns 13,838 shares of the company's stock valued at $85,000 after acquiring an additional 6,630 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of KKR Real Estate Finance Trust during the first quarter worth $148,000. Finally, Quantinno Capital Management LP raised its stake in shares of KKR Real Estate Finance Trust by 88.0% during the 1st quarter. Quantinno Capital Management LP now owns 120,218 shares of the company's stock valued at $736,000 after buying an additional 56,272 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KREF. Keefe, Bruyette & Woods lifted their target price on shares of KKR Real Estate Finance Trust from $6.50 to $7.00 and gave the company a "market perform" rating in a report on Thursday, July 23rd. Raymond James Financial raised KKR Real Estate Finance Trust from an "outperform" rating to a "strong-buy" rating and set a $9.50 price objective on the stock in a report on Thursday, August 6th. 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. Zacks Research raised shares of KKR Real Estate Finance Trust from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of KKR Real Estate Finance Trust in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, KKR Real Estate Finance Trust has a consensus rating of "Hold" and an average price target of $8.92.

KKR Real Estate Finance Trust Trading Down 1.3%

Shares of KKR Real Estate Finance Trust stock opened at $7.37 on Thursday. KKR Real Estate Finance Trust has a 1-year low of $5.25 and a 1-year high of $9.90. The company has a debt-to-equity ratio of 4.36, a current ratio of 407.64 and a quick ratio of 407.64. The stock has a market cap of $431.44 million, a P/E ratio of -2.25 and a beta of 0.83. The stock's 50 day simple moving average is $7.42 and its 200-day simple moving average is $6.93.

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

KKR Real Estate Finance Trust Company 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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