KKR Real Estate Finance Trust (NYSE:KREF) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of KKR Real Estate Finance Trust (NYSE:KREF) from a buy rating to a hold rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “KKR Real Estate Finance Trust Inc. is a real estate finance company. It focuses primarily on originating and acquiring senior loans secured by commercial real estate assets. KKR Real Estate Finance Trust Inc. is headquartered in New York. “

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price objective on KKR Real Estate Finance Trust from $19.00 to $20.00 and gave the company an overweight rating in a research report on Monday, April 26th. JMP Securities upgraded KKR Real Estate Finance Trust from a market perform rating to a market outperform rating and set a $21.50 price objective for the company in a research report on Tuesday, May 4th. Raymond James raised their price objective on KKR Real Estate Finance Trust from $21.00 to $22.00 and gave the company an outperform rating in a research report on Wednesday, April 28th. Finally, BTIG Research reaffirmed a buy rating and issued a $21.50 price target (up previously from $19.50) on shares of KKR Real Estate Finance Trust in a report on Tuesday, April 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. KKR Real Estate Finance Trust currently has a consensus rating of Buy and a consensus price target of $21.00.

NYSE:KREF opened at $22.23 on Thursday. KKR Real Estate Finance Trust has a one year low of $14.76 and a one year high of $22.91. The company has a debt-to-equity ratio of 3.91, a current ratio of 420.22 and a quick ratio of 420.22. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 10.49 and a beta of 0.73. The business has a fifty day moving average of $20.51.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings results on Sunday, April 25th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.04. KKR Real Estate Finance Trust had a return on equity of 11.07% and a net margin of 50.52%. Research analysts anticipate that KKR Real Estate Finance Trust will post 1.98 earnings per share for the current year.

The company also recently disclosed a dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 28th will be paid a $0.2663 dividend. This represents a yield of 5.15%. The ex-dividend date is Thursday, May 27th. KKR Real Estate Finance Trust’s payout ratio is currently 88.21%.

In other KKR Real Estate Finance Trust news, major shareholder Reft Holdings L.P. Kkr sold 750,000 shares of the firm’s stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $20.07, for a total value of $15,052,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in KKR Real Estate Finance Trust by 2.1% in the first quarter. Principal Financial Group Inc. now owns 251,869 shares of the company’s stock worth $4,632,000 after purchasing an additional 5,191 shares during the last quarter. SageGuard Financial Group LLC lifted its stake 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 purchasing an additional 3,849 shares during the last quarter. Kore Private Wealth LLC lifted its stake in KKR Real Estate Finance Trust by 7.2% in the first quarter. Kore Private Wealth LLC now owns 19,291 shares of the company’s stock worth $355,000 after purchasing an additional 1,291 shares during the last quarter. Millennium Management LLC bought a new stake in KKR Real Estate Finance Trust in the first quarter worth about $2,618,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in KKR Real Estate Finance Trust in the first quarter worth about $1,719,000. 87.08% of the stock is owned by institutional investors and hedge funds.

KKR Real Estate Finance Trust Company Profile

KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on originating and acquiring senior loans secured by commercial real estate (CRE) assets. The company engages in the origination and purchase of credit investments related to commercial real estate, including leveraged and unleveraged commercial mortgage loans, and commercial mortgage-backed securities.

Featured Story: Dollar Cost Averaging

Get a free copy of the Zacks research report on KKR Real Estate Finance Trust (KREF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for KKR Real Estate Finance Trust (NYSE:KREF)

Receive News & Ratings for KKR Real Estate Finance Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KKR Real Estate Finance Trust and related companies with MarketBeat.com's FREE daily email newsletter.