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

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. Stockholders 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 dividend yield of 10.3%.

KKR Real Estate Finance Trust has a 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. Equities 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 Price Performance

Shares of NYSE KREF traded down $0.10 during mid-day trading on Thursday, hitting $9.70. 711,320 shares of the company's stock traded hands, compared to its average volume of 586,177. The company's 50-day moving average is $9.27 and its two-hundred day moving average is $9.55. 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 company has a market capitalization of $637.10 million, a P/E ratio of -14.70 and a beta of 0.91. KKR Real Estate Finance Trust has a 1 year low of $8.28 and a 1 year high of $12.95.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations 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 EPS for the current fiscal year.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its stake in 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 acquiring an additional 1,725 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of KKR Real Estate Finance Trust by 6.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 194,133 shares of the company's stock worth $1,703,000 after purchasing an additional 11,110 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of KKR Real Estate Finance Trust by 64.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,732 shares of the company's stock worth $50,000 after purchasing an additional 2,238 shares during the period. Sophron Capital Management L.P. lifted its position in shares of KKR Real Estate Finance Trust by 57.1% in the 2nd quarter. Sophron Capital Management L.P. now owns 57,138 shares of the company's stock worth $501,000 after purchasing an additional 20,759 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of KKR Real Estate Finance Trust in the 2nd quarter worth approximately $240,000. 70.23% of the stock is currently owned by institutional investors.

KKR Real Estate Finance Trust Company Profile

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.

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