KKR Real Estate Finance Trust (NYSE:KREF) Given Neutral Rating at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has restated its rating on KKR Real Estate Finance Trust to neutral with a price target of $9.00, reflecting a slight decrease from the previous target of $9.50.
• Institutional investors now own approximately 70.23% of KKR Real Estate Finance Trust shares, with several firms significantly increasing their stakes in the company recently.
• The company reported a negative earnings per share of ($0.53) for the last quarter, falling short of analyst expectations, yet generated revenues of $35.75 million, exceeding estimates by a margin.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Monday,Benzinga reports. They currently have a $9.00 price target on the stock, down from their prior price target of $9.50. JPMorgan Chase & Co.'s price objective indicates a potential upside of 4.29% from the company's previous close.

Several other equities analysts have also recently weighed in on the stock. Zacks Research raised shares of KKR Real Estate Finance Trust from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Weiss Ratings reissued a "sell (d)" rating on shares of KKR Real Estate Finance Trust in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of KKR Real Estate Finance Trust from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $11.31.

KKR Real Estate Finance Trust Price Performance

NYSE KREF opened at $8.63 on Monday. The company has a quick ratio of 440.20, a current ratio of 440.20 and a debt-to-equity ratio of 3.81. KKR Real Estate Finance Trust has a 12-month low of $8.27 and a 12-month high of $12.33. The company has a market capitalization of $566.82 million, a PE ratio of -13.08 and a beta of 0.89. The firm's 50 day moving average is $9.26 and its 200-day moving average is $9.17.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.37). KKR Real Estate Finance Trust had a negative net margin of 4.43% and a positive return on equity of 1.61%. The business had revenue of $35.75 million during the quarter, compared to analyst estimates of $32.55 million. Equities research analysts anticipate that KKR Real Estate Finance Trust will post 1.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of KKR Real Estate Finance Trust by 2,508.7% in the first quarter. GAMMA Investing LLC now owns 5,400 shares of the company's stock valued at $58,000 after acquiring an additional 5,193 shares during the period. Farther Finance Advisors LLC boosted its position in shares of KKR Real Estate Finance Trust by 9,954.2% in the first quarter. Farther Finance Advisors LLC now owns 2,413 shares of the company's stock valued at $26,000 after acquiring an additional 2,389 shares during the period. Teacher Retirement System of Texas boosted its position in shares of KKR Real Estate Finance Trust by 15.4% in the first quarter. Teacher Retirement System of Texas now owns 14,980 shares of the company's stock valued at $162,000 after acquiring an additional 2,002 shares during the period. Principal Financial Group Inc. boosted its position in shares of KKR Real Estate Finance Trust by 1.4% in the first quarter. Principal Financial Group Inc. now owns 287,754 shares of the company's stock valued at $3,108,000 after acquiring an additional 3,857 shares during the period. Finally, Penserra Capital Management LLC boosted its position in shares of KKR Real Estate Finance Trust by 21.1% in the first quarter. Penserra Capital Management LLC now owns 96,632 shares of the company's stock valued at $1,043,000 after acquiring an additional 16,804 shares during the period. Institutional investors own 70.23% of the company's stock.

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.

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