JPMorgan Chase & Co. Lowers KKR Real Estate Finance Trust (NYSE:KREF) Price Target to $6.50

KKR Real Estate Finance Trust (NYSE:KREF) had its target price decreased by research analysts at JPMorgan Chase & Co. from $8.00 to $6.50 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 1.89% from the stock’s current price.

Several other equities analysts have also recently weighed in on KREF. Keefe, Bruyette & Woods lowered their price objective on shares of KKR Real Estate Finance Trust from $8.00 to $7.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 8th. Citizens Jmp lowered their price objective on shares of KKR Real Estate Finance Trust from $10.00 to $9.50 and set a “market outperform” rating on the stock in a research note on Monday, March 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Thursday, January 22nd. BTIG Research cut shares of KKR Real Estate Finance Trust from a “buy” rating to a “neutral” rating in a research note on Thursday, February 5th. Finally, Wells Fargo & Company reduced their target price on shares of KKR Real Estate Finance Trust from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, KKR Real Estate Finance Trust presently has an average rating of “Hold” and a consensus price target of $9.00.

KKR Real Estate Finance Trust Stock Performance

Shares of NYSE:KREF traded down $0.08 during trading on Thursday, hitting $6.63. The company’s stock had a trading volume of 388,373 shares, compared to its average volume of 1,332,059. The company has a 50-day moving average of $6.71 and a 200-day moving average of $7.80. KKR Real Estate Finance Trust has a 12 month low of $5.87 and a 12 month high of $9.98. The company has a debt-to-equity ratio of 3.83, a current ratio of 407.64 and a quick ratio of 407.64. The firm has a market cap of $425.86 million, a price-to-earnings ratio of -6.31 and a beta of 0.91.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. KKR Real Estate Finance Trust had a negative net margin of 10.80% and a negative return on equity of 1.13%. The firm had revenue of $32.72 million for the quarter, compared to analysts’ expectations of $26.06 million. On average, sell-side analysts expect that KKR Real Estate Finance Trust will post 1.05 earnings per share for the current year.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its holdings in shares of KKR Real Estate Finance Trust by 210.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,099 shares of the company’s stock valued at $25,000 after purchasing an additional 2,101 shares in the last quarter. PNC Financial Services Group Inc. lifted its position 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 worth $29,000 after buying an additional 2,266 shares during the last quarter. Geneos Wealth Management Inc. lifted its position 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 worth $30,000 after buying an additional 1,725 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in KKR Real Estate Finance Trust by 742.0% in the second quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company’s stock worth $36,000 after buying an additional 3,658 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in KKR Real Estate Finance Trust in the third quarter worth $48,000. 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.