KKR Real Estate Finance Trust (NYSE:KREF) Releases Earnings Results, Misses Expectations By $0.07 EPS

Key Points

• KKR Real Estate Finance Trust reported an earnings per share (EPS) of ($0.06), missing analysts' expectations by $0.07.
• The company declared a quarterly dividend of $0.25, equating to an annual yield of 11.5%, with a payout ratio currently at -151.52%.
• While the stock has seen increased institutional interest, recent analyst ratings suggest a mixed outlook, with an average rating of "Hold" and a price target of $11.31.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) released its earnings results on Tuesday. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.07), Zacks reports. KKR Real Estate Finance Trust had a positive return on equity of 1.61% and a negative net margin of 4.43%.

KKR Real Estate Finance Trust Price Performance

NYSE KREF traded up $0.17 on Tuesday, hitting $8.72. The company had a trading volume of 1,105,371 shares, compared to its average volume of 631,060. 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's fifty day moving average price is $9.25 and its 200-day moving average price is $9.16. The company has a market capitalization of $572.60 million, a PE ratio of -13.21 and a beta of 0.89. KKR Real Estate Finance Trust has a 12-month low of $8.27 and a 12-month high of $12.33.

KKR Real Estate Finance Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 11.5%. The ex-dividend date of this dividend was Tuesday, September 30th. KKR Real Estate Finance Trust's payout ratio is presently -151.52%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KREF. Millennium Management LLC raised its position in shares of KKR Real Estate Finance Trust by 25.9% during the 1st quarter. Millennium Management LLC now owns 353,216 shares of the company's stock worth $3,815,000 after purchasing an additional 72,566 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of KKR Real Estate Finance Trust during the 1st quarter worth about $288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of KKR Real Estate Finance Trust by 317.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,589 shares of the company's stock worth $2,210,000 after purchasing an additional 155,553 shares during the last quarter. Jane Street Group LLC raised its position in shares of KKR Real Estate Finance Trust by 72.1% during the 1st quarter. Jane Street Group LLC now owns 172,162 shares of the company's stock worth $1,859,000 after purchasing an additional 72,140 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of KKR Real Estate Finance Trust during the first quarter worth approximately $66,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on KREF. Wall Street Zen raised KKR Real Estate Finance Trust from a "sell" rating to a "hold" rating in a report on Friday, September 5th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $9.00 price objective (down previously from $9.50) on shares of KKR Real Estate Finance Trust in a research note on Monday. Weiss Ratings reiterated a "sell (d)" rating on shares of KKR Real Estate Finance Trust in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of KKR Real Estate Finance Trust from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $11.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.