Equities research analysts expect KKR Real Estate Finance Trust Inc. (NYSE:KREF) to announce sales of $38.46 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for KKR Real Estate Finance Trust's earnings, with the highest sales estimate coming in at $41.41 million and the lowest estimate coming in at $35.50 million. KKR Real Estate Finance Trust posted sales of $38.86 million in the same quarter last year, which suggests a negative year over year growth rate of 1%. The company is expected to announce its next earnings report after the market closes on Monday, October 25th.
According to Zacks, analysts expect that KKR Real Estate Finance Trust will report full year sales of $146.90 million for the current financial year. For the next year, analysts expect that the company will post sales of $149.59 million, with estimates ranging from $140.30 million to $158.87 million. Zacks' sales calculations are an average based on a survey of analysts that that provide coverage for KKR Real Estate Finance Trust.
KKR Real Estate Finance Trust (NYSE:KREF) last released its earnings results on Sunday, July 25th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. KKR Real Estate Finance Trust had a net margin of 51.55% and a return on equity of 11.24%.
Several research analysts have recently weighed in on KREF shares. Zacks Investment Research downgraded shares of KKR Real Estate Finance Trust from a "buy" rating to a "hold" rating in a research report on Wednesday, September 29th. JMP Securities reissued a "market outperform" rating and issued a $20.91 target price (down from $21.50) on shares of KKR Real Estate Finance Trust in a research report on Tuesday, July 27th. Two investment 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 stock currently has an average rating of "Buy" and a consensus price target of $21.68.
KKR Real Estate Finance Trust stock opened at $21.91 on Wednesday. The firm's 50 day simple moving average is $21.25 and its 200-day simple moving average is $21.05. The company has a market cap of $1.22 billion, a P/E ratio of 10.33 and a beta of 0.70. The company has a debt-to-equity ratio of 3.42, a current ratio of 619.94 and a quick ratio of 619.94. KKR Real Estate Finance Trust has a fifty-two week low of $16.15 and a fifty-two week high of $23.42.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 7.85%. The ex-dividend date of this dividend is Wednesday, September 29th. KKR Real Estate Finance Trust's payout ratio is presently 88.21%.
In related news, Director Christen E.J. Lee sold 10,098 shares of the business's stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $21.39, for a total transaction of $215,996.22. Following the transaction, the director now directly owns 262,324 shares of the company's stock, valued at $5,611,110.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.
Hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. grew its position in KKR Real Estate Finance Trust by 72.4% in the second quarter. Advisors Asset Management Inc. now owns 143,271 shares of the company's stock worth $3,099,000 after acquiring an additional 60,158 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in KKR Real Estate Finance Trust in the second quarter worth approximately $2,102,000. Citigroup Inc. grew its position in KKR Real Estate Finance Trust by 1,461.7% in the second quarter. Citigroup Inc. now owns 57,596 shares of the company's stock worth $1,246,000 after acquiring an additional 53,908 shares in the last quarter. New York State Common Retirement Fund grew its position in KKR Real Estate Finance Trust by 18.3% in the second quarter. New York State Common Retirement Fund now owns 29,859 shares of the company's stock worth $646,000 after acquiring an additional 4,619 shares in the last quarter. Finally, SageGuard Financial Group LLC grew its position in KKR Real Estate Finance Trust by 13.9% in the first quarter. SageGuard Financial Group LLC now owns 31,465 shares of the company's stock worth $580,000 after acquiring an additional 3,849 shares in the last quarter. 82.15% of the stock is owned by institutional investors.
About KKR Real Estate Finance Trust
KKR Real Estate Finance Trust, Inc is a real estate finance company, which focuses primarily on originating and acquiring senior loans secured by commercial real estate assets. Its target assets include mezzanine loans, preferred equity and other debt-oriented instruments. The company's investment objective is capital preservation and generating attractive risk-adjusted returns for its stockholders over the long term, primarily through dividends.
See Also: Cash Flow
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