KKR Real Estate Finance Trust (NYSE:KREF) Announces $0.25 Quarterly Dividend

Key Points

• KKR Real Estate Finance Trust announced a quarterly dividend of $0.25 per share, which will be paid to stockholders of record on September 30th, 2023, translating to a 10.3% annual dividend yield.
• The company reported a payout ratio of 107.5%, indicating reliance on its balance sheet to cover dividends, despite expected earnings that should allow it to manage future payouts.
• As of the latest trading session, shares of the trust dropped to $9.70, with an overall market capitalization of $637.10 million and a notable negative earnings per share report from July.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) announced a quarterly dividend on Thursday, September 11th, RTT News reports. Investors of record on Tuesday, September 30th will be paid a dividend of 0.25 per share on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 10.7%. The ex-dividend date is Tuesday, September 30th.

KKR Real Estate Finance Trust has a dividend payout ratio of 107.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect KKR Real Estate Finance Trust to earn $1.08 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 92.6%.

KKR Real Estate Finance Trust Stock Performance

NYSE:KREF traded down $0.13 during mid-day trading on Tuesday, hitting $9.37. The stock had a trading volume of 1,214,798 shares, compared to its average volume of 500,107. The stock has a market capitalization of $615.42 million, a price-to-earnings ratio of -14.20 and a beta of 0.91. The company has a 50 day simple moving average of $9.32 and a 200-day simple moving average of $9.49. KKR Real Estate Finance Trust has a 52 week low of $8.28 and a 52 week high of $12.95. The company has a current ratio of 440.20, a quick ratio of 440.20 and a debt-to-equity ratio of 3.81.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.37). The firm 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, research analysts expect that KKR Real Estate Finance Trust will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of KKR Real Estate Finance Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in shares of KKR Real Estate Finance Trust by 9,954.2% in the 1st quarter. Farther Finance Advisors LLC now owns 2,413 shares of the company's stock worth $26,000 after purchasing an additional 2,389 shares in the last quarter. Quarry LP bought a new stake in shares of KKR Real Estate Finance Trust in the 1st quarter worth approximately $28,000. Geneos Wealth Management Inc. raised its holdings in shares of KKR Real Estate Finance Trust by 100.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company's stock worth $30,000 after purchasing an additional 1,725 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of KKR Real Estate Finance Trust by 742.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company's stock worth $36,000 after purchasing an additional 3,658 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of KKR Real Estate Finance Trust by 3,904.6% in the 2nd quarter. Allworth Financial LP now owns 4,365 shares of the company's stock worth $38,000 after purchasing an additional 4,256 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

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.