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

KKR Real Estate Finance Trust (NYSE:KREF) announced its quarterly earnings data on Tuesday. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08, FiscalAI reports. 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 net margin of 0.12% and a negative return on equity of 0.60%.

KKR Real Estate Finance Trust Stock Performance

Shares of KREF stock traded down $0.11 during trading on Tuesday, reaching $8.21. 793,995 shares of the company’s stock traded hands, compared to its average volume of 834,412. The firm’s 50-day moving average is $8.35 and its 200 day moving average is $8.75. The company has a market capitalization of $537.35 million, a P/E ratio of -23.44 and a beta of 0.88. KKR Real Estate Finance Trust has a 1 year low of $7.55 and a 1 year high of $11.53. The company has a current ratio of 423.43, a quick ratio of 423.43 and a debt-to-equity ratio of 3.63.

KKR Real Estate Finance Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 12.2%. KKR Real Estate Finance Trust’s payout ratio is -285.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. BTIG Research reaffirmed a “buy” rating and issued a $13.00 price objective on shares of KKR Real Estate Finance Trust in a report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Thursday, January 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $9.00 target price (down previously from $9.50) on shares of KKR Real Estate Finance Trust in a research report on Monday, October 20th. Wells Fargo & Company reduced their price target on shares of KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of KKR Real Estate Finance Trust from $8.75 to $8.25 and set a “market perform” rating on the stock in a report on Thursday, January 8th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.45.

Insider Buying and Selling

In other news, Director Ralph F. Rosenberg sold 125,289 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $8.25, for a total transaction of $1,033,634.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christen E.J. Lee acquired 10,000 shares of KKR Real Estate Finance Trust stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $7.80 per share, with a total value of $78,000.00. Following the purchase, the director owned 229,133 shares of the company’s stock, valued at $1,787,237.40. This represents a 4.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 55,000 shares of company stock valued at $431,710 over the last three months. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of KKR Real Estate Finance Trust by 7.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,201,066 shares of the company’s stock valued at $10,810,000 after acquiring an additional 85,411 shares during the period. Invesco Ltd. increased its holdings in KKR Real Estate Finance Trust by 36.2% during the 3rd quarter. Invesco Ltd. now owns 1,145,916 shares of the company’s stock valued at $10,313,000 after purchasing an additional 304,413 shares during the period. Nomura Holdings Inc. bought a new stake in KKR Real Estate Finance Trust in the third quarter valued at $5,212,000. Balyasny Asset Management L.P. raised its stake in KKR Real Estate Finance Trust by 368.5% in the second quarter. Balyasny Asset Management L.P. now owns 536,084 shares of the company’s stock worth $4,701,000 after buying an additional 421,657 shares in the last quarter. Finally, Nokomis Capital L.L.C. lifted its holdings in KKR Real Estate Finance Trust by 35.7% in the third quarter. Nokomis Capital L.L.C. now owns 461,838 shares of the company’s stock worth $4,157,000 after buying an additional 121,445 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.