KKR Real Estate Finance Trust (NYSE:KREF) Downgraded by Citizens Jmp to Market Perform

Key Points

• Citizens Jmp downgraded KKR Real Estate Finance Trust (KREF) from "outperform" to "market perform" in a report issued Monday.
• Multiple analysts have trimmed ratings and price targets (JPMorgan, Keefe Bruyette, Citigroup) while Weiss Ratings reaffirmed a sell; the consensus is a "Hold" with a consensus target price of $8.80 (1 Buy, 6 Hold, 1 Sell).
• KKR REIT missed quarterly estimates, reporting EPS of ($0.06) vs. $0.11 expected and revenue of $20.89M vs. $28.76M, with the stock trading near $6.01 and a 52-week range of $5.25–$9.98.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) was downgraded by stock analysts at Citizens Jmp from an "outperform" rating to a "market perform" rating in a report issued on Monday, Marketbeat.com reports.

KREF has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their target price on KKR Real Estate Finance Trust from $8.00 to $6.50 and set a "neutral" rating on the stock in a report on Thursday, April 16th. Keefe, Bruyette & Woods reduced their price objective on shares of KKR Real Estate Finance Trust from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Friday. Wells Fargo & Company decreased their price objective on shares of KKR Real Estate Finance Trust from $10.00 to $9.00 and set an "overweight" rating for the company in a report on Thursday, February 5th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of KKR Real Estate Finance Trust in a research note on Tuesday, April 21st. Finally, Citigroup cut shares of KKR Real Estate Finance Trust from a "neutral" rating to a "market perform" rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $8.80.

KKR Real Estate Finance Trust Price Performance

KREF opened at $6.01 on Monday. The company has a fifty day moving average price of $6.62 and a two-hundred day moving average price of $7.68. The firm has a market capitalization of $386.12 million, a PE ratio of -3.23 and a beta of 0.91. KKR Real Estate Finance Trust has a 52 week low of $5.25 and a 52 week high of $9.98. The company has a debt-to-equity ratio of 3.90, a quick ratio of 407.64 and a current ratio of 407.64.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). KKR Real Estate Finance Trust had a negative return on equity of 0.78% and a negative net margin of 23.55%.The company had revenue of $20.89 million during the quarter, compared to the consensus estimate of $28.76 million. As a group, analysts anticipate that KKR Real Estate Finance Trust will post 0.11 earnings per share for the current year.

Institutional Trading of KKR Real Estate Finance Trust

Institutional investors have recently modified their holdings of the company. Able Wealth Management LLC bought a new position in shares of KKR Real Estate Finance Trust during the first quarter worth about $112,000. Quotient Wealth Partners LLC bought a new position in shares of KKR Real Estate Finance Trust during the 1st quarter worth approximately $72,000. XTX Topco Ltd raised its holdings in shares of KKR Real Estate Finance Trust by 75.8% in the fourth quarter. XTX Topco Ltd now owns 84,190 shares of the company's stock valued at $692,000 after purchasing an additional 36,311 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of KKR Real Estate Finance Trust by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 574,289 shares of the company's stock worth $4,721,000 after purchasing an additional 26,878 shares in the last quarter. Finally, Guggenheim Capital LLC acquired a new position in KKR Real Estate Finance Trust during the fourth quarter worth $163,000. 70.23% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.