KKR Real Estate Finance Trust $KREF Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 401,115 KREF shares during the second quarter, worth approximately $2.74 million and representing 0.68% of KKR Real Estate Finance Trust. Institutional investors collectively own 70.23% of the company.
• KREF reported a quarterly loss of $0.58 per share, missing estimates by $0.02, while revenue of $29.34 million exceeded expectations. The stock opened at $6.38, compared with a 52-week range of $5.25 to $9.13.
• The company declared a quarterly dividend of $0.10 per share, or $0.40 annualized, implying a 6.3% yield. Analysts’ consensus rating is “Hold,” with an average price target of $8.92.

Bank of America Corp DE bought a new position in shares of KKR Real Estate Finance Trust (NYSE:KREF - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 401,115 shares of the company's stock, valued at approximately $2,744,000. Bank of America Corp DE owned approximately 0.68% of KKR Real Estate Finance Trust at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KREF. Conversant Capital LLC purchased a new stake in KKR Real Estate Finance Trust during the first quarter worth $9,000,000. Endure Capital Management LLC bought a new position in shares of KKR Real Estate Finance Trust in the 1st quarter worth $1,545,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of KKR Real Estate Finance Trust during the 1st quarter worth $1,602,000. BlackRock Inc. bought a new stake in KKR Real Estate Finance Trust during the second quarter valued at about $40,349,000. Finally, Compass Rose Asset Management LP bought a new stake in KKR Real Estate Finance Trust during the fourth quarter valued at about $2,754,000. Institutional investors own 70.23% of the company's stock.

KKR Real Estate Finance Trust Stock Up 1.8%

KKR Real Estate Finance Trust stock opened at $6.38 on Wednesday. The firm has a market cap of $373.43 million, a price-to-earnings ratio of -1.94 and a beta of 0.83. KKR Real Estate Finance Trust has a 52 week low of $5.25 and a 52 week high of $9.13. The business's 50-day moving average price is $7.25 and its 200 day moving average price is $6.90. The company has a quick ratio of 407.64, a current ratio of 407.64 and a debt-to-equity ratio of 4.36.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported ($0.58) earnings per share (EPS) 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 analyst estimates 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%. As a group, sell-side analysts anticipate that KKR Real Estate Finance Trust will post 0.28 earnings per share for the current year.

KKR Real Estate Finance Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.3%. KKR Real Estate Finance Trust's payout ratio is currently -12.20%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KREF. Weiss Ratings reaffirmed a "sell (d)" rating on shares of KKR Real Estate Finance Trust in a research report on Friday, July 17th. Zacks Research upgraded shares of KKR Real Estate Finance Trust from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Raymond James Financial raised shares of KKR Real Estate Finance Trust from an "outperform" rating to a "strong-buy" rating and set a $9.50 target price on the stock in a research report on Thursday, August 6th. Wall Street Zen lowered shares of KKR Real Estate Finance Trust from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th. Finally, Keefe, Bruyette & Woods raised their price target on shares of KKR Real Estate Finance Trust from $6.50 to $7.00 and gave the stock a "market perform" rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, KKR Real Estate Finance Trust presently has an average rating of "Hold" and an average target price of $8.92.

KKR Real Estate Finance Trust Company Profile

KKR Real Estate Finance Trust Inc NYSE: KREF is a publicly traded real estate investment trust that originates, acquires and manages commercial real estate loans. The company primarily provides senior loans secured by institutional-quality properties, with a focus on generating income from commercial real estate credit investments.

KREF's investments are generally backed by properties in sectors such as multifamily, office, industrial, hospitality and other commercial real estate categories.

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