Brokerages Set KKR Real Estate Finance Trust (NYSE:KREF) Target Price at $9.50

Shares of KKR Real Estate Finance Trust (NYSE:KREF) have received an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.50.

Several equities analysts have commented on the stock. Citizens Jmp decreased their target price on KKR Real Estate Finance Trust from $10.00 to $9.50 and set a “market outperform” rating for the company in a research report on Monday, March 23rd. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Thursday, January 22nd. Zacks Research downgraded shares of KKR Real Estate Finance Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Wells Fargo & Company lowered their target price on shares of KKR Real Estate Finance Trust from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of KKR Real Estate Finance Trust from $8.25 to $8.00 and set a “market perform” rating on the stock in a report on Thursday, February 5th.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in shares of KKR Real Estate Finance Trust by 25.9% in 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 bought a new stake in KKR Real Estate Finance Trust in the first quarter valued at $288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 during the period. Jane Street Group LLC raised its stake in KKR Real Estate Finance Trust by 72.1% during 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 in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of KKR Real Estate Finance Trust during the first quarter valued at $66,000. 70.23% of the stock is owned by institutional investors and hedge funds.

KKR Real Estate Finance Trust Price Performance

Shares of KREF opened at $6.12 on Wednesday. The business’s 50-day moving average is $7.21 and its 200-day moving average is $8.09. KKR Real Estate Finance Trust has a fifty-two week low of $6.04 and a fifty-two week high of $11.24. The company has a market capitalization of $393.07 million, a price-to-earnings ratio of -5.82 and a beta of 0.90. The company has a debt-to-equity ratio of 3.83, a current ratio of 407.64 and a quick ratio of 407.64.

KKR Real Estate Finance Trust (NYSE:KREF) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. The company had revenue of $32.72 million during the quarter, compared to the consensus estimate of $26.06 million. KKR Real Estate Finance Trust had a negative return on equity of 1.13% and a negative net margin of 10.80%. Equities research analysts expect that KKR Real Estate Finance Trust will post 1.05 EPS for the current fiscal year.

KKR Real Estate Finance Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 16.4%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is -95.24%.

About KKR Real Estate Finance Trust

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.