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

Key Points

• KKR Real Estate Finance Trust declared a quarterly dividend of $0.25 per share, payable April 15 to holders of record on March 31, implying a 14.7% yield.
• The dividend is currently not fully covered by earnings (payout ratio ~107.5%), so payments are being supported by the balance sheet, although analysts forecast next-year EPS of $1.08 which would lower the payout to about 92.6%.
• KKR recently beat quarterly estimates (EPS $0.22 vs. $0.14; revenue $32.7M vs. $26.1M) but still posts a negative net margin and ROE, and trades near $6.79 with a market cap of roughly $436M.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) announced a quarterly dividend on Wednesday, March 11th. Investors of record on Tuesday, March 31st will be given a dividend of 0.25 per share on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 14.7%. The ex-dividend date is Tuesday, March 31st.

KKR Real Estate Finance Trust has decreased its dividend by an average of 0.1%annually over the last three years. KKR Real Estate Finance Trust has a dividend payout ratio of 107.5% meaning 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 opened at $6.79 on Thursday. The company has a fifty day moving average price of $7.58 and a 200 day moving average price of $8.36. The firm has a market cap of $436.14 million, a PE ratio of -6.46 and a beta of 0.90. The company has a current ratio of 407.64, a quick ratio of 407.64 and a debt-to-equity ratio of 3.83. KKR Real Estate Finance Trust has a 1-year low of $6.64 and a 1-year high of $11.53.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. The company had revenue of $32.72 million for the quarter, compared to analyst estimates of $26.06 million. KKR Real Estate Finance Trust had a negative return on equity of 1.13% and a negative net margin of 10.80%. Research analysts predict that KKR Real Estate Finance Trust will post 1.05 earnings per share for the current fiscal year.

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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