KKR Real Estate Finance Trust (NYSE:KREF) Stock Price Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• KKR Real Estate Finance Trust shares moved above their 50-day moving average on Friday, trading as high as $7.08 and last changing hands around $7.075.
• Analysts remain cautious on the stock overall, with an average “Reduce” rating and an average target price of $8.40; several firms recently cut targets or downgraded the name.
• The company reported a Q1 earnings miss with EPS of -$0.06 versus expectations of $0.11, while its board also declared a quarterly dividend of $0.10 per share, implying a 5.7% annualized yield.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report)'s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.62 and traded as high as $7.08. KKR Real Estate Finance Trust shares last traded at $7.0750, with a volume of 987,452 shares changing hands.

Wall Street Analysts Forecast Growth

KREF has been the subject of several research analyst reports. Weiss Ratings restated a "sell (d)" rating on shares of KKR Real Estate Finance Trust in a research note on Tuesday, April 21st. Wells Fargo & Company cut their target price on KKR Real Estate Finance Trust from $9.00 to $7.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 28th. Zacks Research downgraded KKR Real Estate Finance Trust from a "hold" rating to a "strong sell" rating in a report on Monday, May 11th. JPMorgan Chase & Co. decreased their target price on KKR Real Estate Finance Trust from $8.00 to $6.50 and set a "neutral" rating for the company in a research report on Thursday, April 16th. Finally, Citigroup downgraded KKR Real Estate Finance Trust from a "neutral" rating to a "market perform" rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and an average target price of $8.40.

KKR Real Estate Finance Trust Stock Performance

The stock has a market cap of $454.92 million, a PE ratio of -3.80 and a beta of 0.84. The stock has a fifty day moving average of $6.62 and a 200-day moving average of $7.23. The company has a quick ratio of 407.64, a current ratio of 407.64 and a debt-to-equity ratio of 3.90.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.17). KKR Real Estate Finance Trust had a negative net margin of 23.55% and a negative return on equity of 0.78%. The company had revenue of $20.89 million for the quarter, compared to analysts' expectations of $28.76 million. On average, equities analysts forecast that KKR Real Estate Finance Trust will post -1.63 EPS for the current year.

KKR Real Estate Finance Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.7%. KKR Real Estate Finance Trust's dividend payout ratio (DPR) is currently -53.76%.

Insider Buying and Selling at KKR Real Estate Finance Trust

In other news, COO W Patrick Mattson acquired 40,000 shares of the business's stock in a transaction on Friday, April 24th. The stock was bought at an average price of $6.03 per share, for a total transaction of $241,200.00. Following the transaction, the chief operating officer owned 500,287 shares in the company, valued at $3,016,730.61. This represents a 8.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew A. Salem bought 60,000 shares of KKR Real Estate Finance Trust stock in a transaction dated Friday, April 24th. The stock was purchased at an average price of $6.04 per share, with a total value of $362,400.00. Following the purchase, the chief executive officer directly owned 703,075 shares in the company, valued at approximately $4,246,573. This trade represents a 9.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.12% of the company's stock.

Institutional Trading of KKR Real Estate Finance Trust

Hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. boosted its holdings in shares of KKR Real Estate Finance Trust by 210.5% during the fourth quarter. Hantz Financial Services Inc. now owns 3,099 shares of the company's stock worth $25,000 after purchasing an additional 2,101 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in KKR Real Estate Finance Trust by 178.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company's stock worth $29,000 after acquiring an additional 2,266 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of KKR Real Estate Finance Trust by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company's stock valued at $30,000 after purchasing an additional 1,725 shares during the period. EverSource Wealth Advisors LLC increased its stake in KKR Real Estate Finance Trust by 742.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company's stock worth $36,000 after buying an additional 3,658 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in KKR Real Estate Finance Trust by 5,654.7% in the 1st quarter. Fifth Third Bancorp now owns 6,100 shares of the company's stock worth $37,000 after buying an additional 5,994 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

KKR Real Estate Finance Trust Company Profile

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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