KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) shares gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $9.05, but opened at $8.77. KKR Real Estate Finance Trust shares last traded at $8.88, with a volume of 184,401 shares.
The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.37). KKR Real Estate Finance Trust had a positive return on equity of 1.61% and a negative net margin of 4.43%. The company had revenue of $35.75 million during the quarter, compared to analyst estimates of $32.55 million.
KKR Real Estate Finance Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.88%. The ex-dividend date was Monday, June 30th. KKR Real Estate Finance Trust's dividend payout ratio is currently -151.52%.
Analysts Set New Price Targets
KREF has been the topic of several recent analyst reports. JMP Securities reaffirmed a "market outperform" rating and issued a $12.00 price target on shares of KKR Real Estate Finance Trust in a research report on Tuesday, May 20th. JPMorgan Chase & Co. dropped their price target on KKR Real Estate Finance Trust from $11.50 to $9.50 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods downgraded KKR Real Estate Finance Trust from an "outperform" rating to a "market perform" rating and set a $10.75 price target on the stock. in a research report on Monday, April 7th. Finally, Wall Street Zen raised KKR Real Estate Finance Trust from a "sell" rating to a "hold" rating in a research report on Saturday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $11.95.
Read Our Latest Stock Report on KKR Real Estate Finance Trust
Institutional Trading of KKR Real Estate Finance Trust
Several institutional investors have recently bought and sold shares of the stock. Wedbush Securities Inc. boosted its stake in KKR Real Estate Finance Trust by 1.5% in the first quarter. Wedbush Securities Inc. now owns 80,386 shares of the company's stock worth $868,000 after purchasing an additional 1,199 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of KKR Real Estate Finance Trust by 6.0% during the second quarter. State of Alaska Department of Revenue now owns 33,895 shares of the company's stock worth $296,000 after purchasing an additional 1,913 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of KKR Real Estate Finance Trust by 15.4% during the first quarter. Teacher Retirement System of Texas now owns 14,980 shares of the company's stock worth $162,000 after purchasing an additional 2,002 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of KKR Real Estate Finance Trust by 5.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 41,975 shares of the company's stock worth $424,000 after purchasing an additional 2,051 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of KKR Real Estate Finance Trust by 9,954.2% during the first quarter. Farther Finance Advisors LLC now owns 2,413 shares of the company's stock worth $26,000 after purchasing an additional 2,389 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
KKR Real Estate Finance Trust Stock Up 0.2%
The firm has a fifty day moving average price of $9.09 and a 200 day moving average price of $9.83. The company has a quick ratio of 413.32, a current ratio of 440.20 and a debt-to-equity ratio of 3.81. The company has a market cap of $603.93 million, a P/E ratio of -13.93 and a beta of 0.91.
About KKR Real Estate Finance Trust
(
Get Free Report)
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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