Endure Capital Management LLC Invests $1.54 Million in KKR Real Estate Finance Trust $KREF

Key Points

• Endure Capital Management disclosed a new first-quarter stake in KKR Real Estate Finance Trust, buying 252,523 shares worth about $1.54 million. The position represents about 1.1% of its portfolio and makes KREF its 10th largest holding.
• Institutional ownership in KREF remains significant, with 70.23% of the stock held by hedge funds and other institutions. Several other firms also recently increased their positions in the mortgage REIT.
• Analyst sentiment is mixed to negative: recent rating changes included downgrades, and the stock currently has an average rating of “Reduce” with an average price target of $8.80. KREF also reported a quarterly EPS loss of $0.58, slightly worse than estimates, even as revenue topped forecasts.

Endure Capital Management LLC acquired a new stake in shares of KKR Real Estate Finance Trust (NYSE:KREF - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 252,523 shares of the company's stock, valued at approximately $1,545,000. KKR Real Estate Finance Trust makes up about 1.1% of Endure Capital Management LLC's investment portfolio, making the stock its 10th largest position. Endure Capital Management LLC owned 0.39% of KKR Real Estate Finance Trust as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KREF. Hantz Financial Services Inc. raised its stake in KKR Real Estate Finance Trust by 210.5% in the fourth 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 in the last quarter. PNC Financial Services Group Inc. boosted its position in KKR Real Estate Finance Trust by 178.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company's stock valued at $29,000 after acquiring an additional 2,266 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in KKR Real Estate Finance Trust by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company's stock valued at $30,000 after acquiring an additional 1,725 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in KKR Real Estate Finance Trust by 742.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company's stock valued at $36,000 after acquiring an additional 3,658 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of KKR Real Estate Finance Trust by 5,654.7% in the 1st quarter. Fifth Third Bancorp now owns 6,100 shares of the company's stock valued at $37,000 after acquiring an additional 5,994 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KREF has been the subject of several recent research reports. Citizens Jmp lowered KKR Real Estate Finance Trust from an "outperform" rating to a "market perform" rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods raised their price objective on KKR Real Estate Finance Trust from $6.50 to $7.00 and gave the company a "market perform" rating in a research report on Thursday. Zacks Research upgraded KKR Real Estate Finance Trust from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Weiss Ratings reiterated a "sell (d)" rating on shares of KKR Real Estate Finance Trust in a report on Friday, July 17th. Finally, Citigroup lowered shares of KKR Real Estate Finance Trust from a "neutral" rating to a "market perform" rating in a research report on Monday, April 27th. One 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.com, the stock presently has an average rating of "Reduce" and an average price target of $8.80.

KKR Real Estate Finance Trust Stock Up 2.1%

Shares of KREF stock opened at $7.29 on Friday. The stock's fifty day moving average price is $7.01 and its 200 day moving average price is $7.00. KKR Real Estate Finance Trust has a 1-year low of $5.25 and a 1-year high of $9.98. The company has a market cap of $426.93 million, a price-to-earnings ratio of -2.22 and a beta of 0.82. The company has a debt-to-equity ratio of 4.36, a current ratio of 407.64 and a quick ratio of 407.64.

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 net margin of 47.33% and a negative return on equity of 1.53%. The business had revenue of $29.34 million during the quarter, compared to analysts' expectations of $24.97 million. On average, research analysts expect that KKR Real Estate Finance Trust will post -1.39 earnings per share for the current fiscal year.

About KKR Real Estate Finance Trust

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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