Vanguard Group Inc. Lowers Holdings in KKR Real Estate Finance Trust $KREF

Key Points

• Vanguard Group Inc. reduced its holdings in KKR Real Estate Finance Trust by 2.2%, owning approximately 6.3 million shares valued at $68.12 million as of the latest quarter.
• Several hedge funds significantly increased their positions in KKR Real Estate Finance Trust, with Farther Finance Advisors boosting its stake by 9,954.2% in Q1.
• KKR Real Estate Finance Trust recently reported a negative earnings per share of ($0.53), missing analysts' expectations, and has a dividend yield of 10.6%.

Vanguard Group Inc. cut its position in shares of KKR Real Estate Finance Trust (NYSE:KREF - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,306,998 shares of the company's stock after selling 143,027 shares during the quarter. Vanguard Group Inc. owned 9.30% of KKR Real Estate Finance Trust worth $68,116,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in shares of KKR Real Estate Finance Trust by 18.9% during the 4th quarter. Wells Fargo & Company MN now owns 158,669 shares of the company's stock worth $1,603,000 after purchasing an additional 25,217 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in KKR Real Estate Finance Trust in the fourth quarter worth about $213,000. Raymond James Financial Inc. bought a new position in KKR Real Estate Finance Trust during the fourth quarter worth about $1,835,000. Barclays PLC lifted its holdings in shares of KKR Real Estate Finance Trust by 5.3% during the 4th quarter. Barclays PLC now owns 104,618 shares of the company's stock valued at $1,056,000 after purchasing an additional 5,299 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in KKR Real Estate Finance Trust in the 4th quarter valued at approximately $381,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KREF has been the topic of a number of research reports. Wall Street Zen lowered KKR Real Estate Finance Trust from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. JMP Securities reissued a "market outperform" rating and issued a $12.00 price target on shares of KKR Real Estate Finance Trust in a research note on Tuesday, May 20th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $11.95.

KKR Real Estate Finance Trust Trading Down 0.6%

KREF traded down $0.06 during midday trading on Thursday, reaching $9.41. 102,604 shares of the company's stock traded hands, compared to its average volume of 586,167. KKR Real Estate Finance Trust has a 52 week low of $8.28 and a 52 week high of $12.95. The firm has a fifty day moving average of $9.15 and a two-hundred day moving average of $9.65. The company has a debt-to-equity ratio of 3.81, a current ratio of 440.20 and a quick ratio of 440.20. The stock has a market capitalization of $617.68 million, a price-to-earnings ratio of -14.25 and a beta of 0.92.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.37). The business had revenue of $35.75 million during the quarter, compared to the consensus estimate of $32.55 million. KKR Real Estate Finance Trust had a negative net margin of 4.43% and a positive return on equity of 1.61%. On average, equities analysts anticipate that KKR Real Estate Finance Trust will post 1.05 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date of this dividend was Monday, June 30th. KKR Real Estate Finance Trust's dividend payout ratio (DPR) is currently -151.52%.

About KKR Real Estate Finance Trust

KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on originating and acquiring transitional senior loans secured by commercial real estate (CRE) assets. It engages in the origination and purchase of credit investments related to CRE, including leveraged and unleveraged commercial real estate loans.