Conversant Capital LLC Makes New Investment in KKR Real Estate Finance Trust $KREF

Conversant Capital LLC bought a new stake in KKR Real Estate Finance Trust (NYSE:KREF) during the first quarter, HoldingsChannel reports. The institutional investor bought 1,470,600 shares of the company’s stock, valued at approximately $9,000,000. KKR Real Estate Finance Trust comprises about 1.2% of Conversant Capital LLC’s holdings, making the stock its 12th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KREF. Hantz Financial Services Inc. increased its stake in shares of KKR Real Estate Finance Trust by 210.5% during the 4th 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 stake in KKR Real Estate Finance Trust by 178.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company’s stock valued at $29,000 after purchasing an additional 2,266 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in KKR Real Estate Finance Trust by 100.0% in 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 last quarter. EverSource Wealth Advisors LLC grew its holdings in KKR Real Estate Finance Trust by 742.0% during the second quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company’s stock valued at $36,000 after purchasing an additional 3,658 shares during the period. Finally, Fifth Third Bancorp grew its holdings in KKR Real Estate Finance Trust by 5,654.7% during the first quarter. Fifth Third Bancorp now owns 6,100 shares of the company’s stock valued at $37,000 after purchasing an additional 5,994 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

KKR Real Estate Finance Trust Stock Up 2.1%

KREF opened at $7.29 on Friday. KKR Real Estate Finance Trust has a 12 month low of $5.25 and a 12 month high of $9.98. The company has a market cap of $426.93 million, a PE ratio of -2.22 and a beta of 0.82. The company has a current ratio of 407.64, a quick ratio of 407.64 and a debt-to-equity ratio of 4.36. The company has a 50 day moving average of $7.01 and a 200 day moving average of $7.00.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its earnings results on Tuesday, July 21st. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.02). The business had revenue of $29.34 million for the quarter, compared to the consensus estimate of $24.97 million. KKR Real Estate Finance Trust had a negative net margin of 47.33% and a negative return on equity of 1.53%. On average, sell-side analysts expect that KKR Real Estate Finance Trust will post -1.39 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on KREF. Keefe, Bruyette & Woods boosted their target price on KKR Real Estate Finance Trust from $6.50 to $7.00 and gave the company a “market perform” rating in a research note on Thursday. 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. Citigroup lowered KKR Real Estate Finance Trust from a “neutral” rating to a “market perform” rating in a report on Monday, April 27th. Citizens Jmp lowered KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. lowered their price objective on KKR Real Estate Finance Trust from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday. 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 stock. Based on data from MarketBeat.com, KKR Real Estate Finance Trust currently has an average rating of “Reduce” and an average price target of $8.80.

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.