KKR Real Estate Finance Trust (NYSE:KREF) Stock Has Average Target Price of $8.83

KKR Real Estate Finance Trust (NYSE:KREF) has been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $8.83.

Several research firms have recently issued reports on KREF. Zacks Research upgraded KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Wall Street Zen cut KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Keefe, Bruyette & Woods reduced their price target on shares of KKR Real Estate Finance Trust from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, October 9th. Citigroup reissued a “market perform” rating on shares of KKR Real Estate Finance Trust in a report on Tuesday, September 15th. Finally, JPMorgan Chase & Co. reduced their price objective on KKR Real Estate Finance Trust from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, July 24th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in KKR Real Estate Finance Trust by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,902 shares of the company’s stock worth $55,000 after purchasing an additional 3,614 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of KKR Real Estate Finance Trust by 56.0% during the third quarter. Versant Capital Management Inc now owns 5,038 shares of the company’s stock worth $31,000 after purchasing an additional 1,809 shares during the period. Sequoia Financial Advisors LLC acquired a new position in KKR Real Estate Finance Trust in the 2nd quarter valued at approximately $183,000. Tidal Investments LLC acquired a new position in shares of KKR Real Estate Finance Trust in the second quarter worth $609,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in KKR Real Estate Finance Trust during the second quarter valued at $25,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Stock Performance

Shares of NYSE KREF opened at $5.81 on Friday. The company’s fifty day moving average is $6.94 and its two-hundred day moving average is $6.86. The firm has a market capitalization of $340.16 million, a P/E ratio of -1.77 and a beta of 0.88. KKR Real Estate Finance Trust has a one year low of $5.25 and a one year high of $9.10.

KKR Real Estate Finance Trust (NYSE:KREF) last released its quarterly earnings data on Tuesday, July 21st. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.02). KKR Real Estate Finance Trust had a negative return on equity of 1.53% and a negative net margin of 47.33%. The company had revenue of $29.34 million for the quarter, compared to analysts’ expectations of $24.97 million. On average, sell-side analysts forecast that KKR Real Estate Finance Trust will post 0.28 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Wednesday, September 30th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is currently -12.20%.

About KKR Real Estate Finance Trust

KKR Real Estate Finance Trust Inc (NYSE: KREF) is a real estate investment trust that originates, acquires and manages commercial real estate loans. The company primarily focuses on senior mortgage loans secured by institutional-quality properties, with an emphasis on transitional assets that may require renovation, leasing or other improvements.

KREF’s loan portfolio is generally backed by commercial properties across major U.S. markets. The underlying properties may include multifamily, office, hotel, industrial, life science, student housing and other commercial real estate assets.