KKR Real Estate Finance Trust (NYSE:KREF) COO Buys $241,200.00 in Stock

Key Points

• W. Patrick Mattson, COO of KKR Real Estate Finance Trust, purchased 40,000 shares on April 24 at $6.03 each for $241,200, increasing his direct stake to 500,287 shares (an 8.69% ownership increase), as disclosed in an SEC filing.
• The stock has weakened recently (down about 2.2% to $5.88 mid-day) after the company missed quarterly expectations (EPS -$0.06 vs. $0.11 expected and revenue shortfall) and announced a cut to its quarterly dividend to $0.10 ($0.40 annualized, ~6.8% yield).
• Institutional investors own roughly 70.2% of the shares, while analyst coverage is mostly cautious with a consensus rating of "Hold" and a $8.80 average price target.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) COO W Patrick Mattson acquired 40,000 shares of KKR Real Estate Finance Trust stock in a transaction dated Friday, April 24th. The shares were acquired at an average price of $6.03 per share, with a total value of $241,200.00. Following the completion of the acquisition, the chief operating officer directly owned 500,287 shares of the company's stock, valued at approximately $3,016,730.61. The trade was a 8.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

KKR Real Estate Finance Trust Stock Down 2.2%

Shares of NYSE KREF traded down $0.14 during mid-day trading on Monday, reaching $5.88. 2,959,790 shares of the company's stock traded hands, compared to its average volume of 1,399,394. The stock has a market cap of $377.76 million, a P/E ratio of -3.16 and a beta of 0.91. The business has a 50-day simple moving average of $6.62 and a 200 day simple moving average of $7.68. 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 debt-to-equity ratio of 3.90, a current ratio of 407.64 and a quick ratio of 407.64.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.17). The business had revenue of $20.89 million for the quarter, compared to analyst estimates of $28.76 million. KKR Real Estate Finance Trust had a negative net margin of 23.55% and a negative return on equity of 0.78%. On average, analysts expect that KKR Real Estate Finance Trust will post 0.11 EPS for the current fiscal year.

KKR Real Estate Finance Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Tuesday, June 30th. KKR Real Estate Finance Trust's dividend payout ratio (DPR) is currently -53.76%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KREF. Nomura Holdings Inc. purchased a new position in KKR Real Estate Finance Trust during the third quarter worth about $5,212,000. Balyasny Asset Management L.P. boosted its holdings in KKR Real Estate Finance Trust by 368.5% during the second quarter. Balyasny Asset Management L.P. now owns 536,084 shares of the company's stock worth $4,701,000 after purchasing an additional 421,657 shares during the last quarter. Invesco Ltd. boosted its holdings in KKR Real Estate Finance Trust by 92.2% during the second quarter. Invesco Ltd. now owns 841,503 shares of the company's stock worth $7,380,000 after purchasing an additional 403,660 shares during the last quarter. Compass Rose Asset Management LP purchased a new position in KKR Real Estate Finance Trust during the fourth quarter worth about $2,754,000. Finally, Jane Street Group LLC boosted its holdings in KKR Real Estate Finance Trust by 653.0% during the fourth quarter. Jane Street Group LLC now owns 356,231 shares of the company's stock worth $2,928,000 after purchasing an additional 308,920 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. BTIG Research cut shares of KKR Real Estate Finance Trust from a "buy" rating to a "neutral" rating in a report on Thursday, February 5th. Citizens Jmp cut shares of KKR Real Estate Finance Trust from an "outperform" rating to a "market perform" rating in a report on Monday. Wall Street Zen cut shares of KKR Real Estate Finance Trust from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Zacks Research upgraded shares of KKR Real Estate Finance Trust from a "strong sell" rating to a "hold" rating in a report on Friday, April 10th. Finally, Citigroup cut shares of KKR Real Estate Finance Trust from a "neutral" rating to a "market perform" rating in a report on Monday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, KKR Real Estate Finance Trust presently has an average rating of "Hold" and a consensus price target of $8.80.

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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