KKR Real Estate Finance Trust (NYSE:KREF) Stock Gets Price Target Cut from Keefe, Bruyette & Woods

KKR Real Estate Finance Trust (NYSE:KREF) had its price objective lowered by Keefe, Bruyette & Woods from $6.50 to $5.50 in a research report report published on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research report on Thursday, October 15th. Citigroup reaffirmed a “market perform” rating on shares of KKR Real Estate Finance Trust in a research report on Tuesday, September 15th. Raymond James Financial upgraded shares of KKR Real Estate Finance Trust from an “outperform” rating to a “strong-buy” rating and set a $9.50 price objective on the stock in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of KKR Real Estate Finance Trust from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.67.

KKR Real Estate Finance Trust Price Performance

NYSE KREF opened at $5.71 on Tuesday. KKR Real Estate Finance Trust has a 1-year low of $4.93 and a 1-year high of $9.10. The firm has a market capitalization of $326.95 million, a P/E ratio of -1.63 and a beta of 0.91. The business’s 50-day simple moving average is $6.39 and its 200-day simple moving average is $6.85.

KKR Real Estate Finance Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.40 annualized dividend and a yield of 7.0%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is currently -11.40%.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE bought a new position in KKR Real Estate Finance Trust in the 2nd quarter worth about $2,744,000. Conversant Capital LLC acquired a new stake in shares of KKR Real Estate Finance Trust in the first quarter valued at approximately $9,000,000. Endure Capital Management LLC bought a new stake in shares of KKR Real Estate Finance Trust during the first quarter valued at approximately $1,545,000. Corient Private Wealth LP bought a new stake in shares of KKR Real Estate Finance Trust during the second quarter valued at approximately $1,321,000. Finally, BlackRock Inc. bought a new stake in shares of KKR Real Estate Finance Trust during the second quarter valued at approximately $40,349,000. Institutional investors and hedge funds 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 real estate investment trust that originates and acquires commercial real estate loans. The company primarily focuses on senior loans secured by institutional-quality properties, including office, multifamily, industrial, hospitality and other commercial real estate assets.

KREF’s investment portfolio is generally composed of floating-rate mortgage loans backed by properties in major U.S. markets. Its financing activities are designed to provide borrowers with capital for property acquisitions, refinancing, redevelopment and other commercial real estate needs.

The company is externally managed by an affiliate of KKR & Co Inc, a global investment firm with real estate investment capabilities.