KKR Real Estate Finance Trust (NYSE:KREF) Issues Quarterly Earnings Results

KKR Real Estate Finance Trust (NYSE:KREF) released its quarterly earnings data on Tuesday. The company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58), FiscalAI reports. The business had revenue of $29.34 million during the quarter, compared to analyst estimates of $24.97 million. KKR Real Estate Finance Trust had a negative return on equity of 0.78% and a negative net margin of 23.55%.

KKR Real Estate Finance Trust Price Performance

Shares of NYSE KREF opened at $7.61 on Wednesday. The firm has a market cap of $489.00 million, a PE ratio of -4.09 and a beta of 0.82. The firm has a fifty day moving average of $6.96 and a 200 day moving average of $7.01. The company has a debt-to-equity ratio of 3.90, a quick ratio of 407.64 and a current ratio of 407.64. KKR Real Estate Finance Trust has a one year low of $5.25 and a one year high of $9.98.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KREF. Zacks Research upgraded KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. cut KKR Real Estate Finance Trust from a “neutral” rating to an “underweight” rating and set a $6.00 price target for the company. in a research report on Friday, July 17th. Weiss Ratings reissued a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Friday. Keefe, Bruyette & Woods lowered their price objective on KKR Real Estate Finance Trust from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, April 24th. Finally, Citigroup lowered KKR Real Estate Finance Trust from a “neutral” rating to a “market perform” rating in a research report on Monday, April 27th. One investment 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’s stock. Based on data from MarketBeat.com, KKR Real Estate Finance Trust has an average rating of “Reduce” and a consensus target price of $8.30.

Insiders Place Their Bets

In related news, CEO Matthew A. Salem bought 60,000 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were acquired at an average price of $6.04 per share, for a total transaction of $362,400.00. Following the completion of the transaction, the chief executive officer directly owned 703,075 shares in the company, valued at $4,246,573. This trade represents a 9.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO W Patrick Mattson bought 40,000 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were bought at an average cost of $6.03 per share, with a total value of $241,200.00. Following the purchase, the chief operating officer directly owned 500,287 shares of the company’s stock, valued at approximately $3,016,730.61. This represents a 8.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC increased its stake in 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 buying an additional 72,566 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of KKR Real Estate Finance Trust in the first quarter valued at approximately $288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of KKR Real Estate Finance Trust by 317.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,589 shares of the company’s stock valued at $2,210,000 after acquiring an additional 155,553 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of KKR Real Estate Finance Trust by 72.1% in the first quarter. Jane Street Group LLC now owns 172,162 shares of the company’s stock worth $1,859,000 after acquiring an additional 72,140 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of KKR Real Estate Finance Trust in the first quarter worth approximately $66,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

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.