KKR Real Estate Finance Trust (NYSE:KREF) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

by · The Markets Daily

KKR Real Estate Finance Trust (NYSE:KREF – Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08, FiscalAI reports. The business had revenue of $32.72 million for the quarter, compared to the consensus estimate of $26.06 million. KKR Real Estate Finance Trust had a negative return on equity of 0.60% and a negative net margin of 0.12%.

KKR Real Estate Finance Trust Price Performance

NYSE KREF traded down $0.11 during trading hours on Tuesday, reaching $8.21. The company’s stock had a trading volume of 794,799 shares, compared to its average volume of 834,657. 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 quick ratio of 423.43, a current ratio of 423.43 and a debt-to-equity ratio of 3.63. The company has a market capitalization of $537.35 million, a price-to-earnings ratio of -23.44 and a beta of 0.88. The firm’s 50-day moving average price is $8.35 and its 200-day moving average price is $8.75.

KKR Real Estate Finance Trust Announces Dividend

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

Analyst Ratings Changes

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

Read Our Latest Research Report on KREF

Insider Activity at KKR Real Estate Finance Trust

In other news, Director Christen E.J. Lee acquired 10,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $7.80 per share, for a total transaction of $78,000.00. Following the completion of the transaction, the director directly owned 229,133 shares in the company, valued at approximately $1,787,237.40. This trade represents a 4.56% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO W Patrick Mattson bought 13,000 shares of KKR Real Estate Finance Trust stock in a transaction dated Thursday, November 6th. The stock was purchased at an average cost of $7.91 per share, for a total transaction of $102,830.00. Following the completion of the acquisition, the chief operating officer directly owned 386,787 shares of the company’s stock, valued at approximately $3,059,485.17. The trade was a 3.48% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 55,000 shares of company stock worth $431,710. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in KKR Real Estate Finance Trust by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company’s stock valued at $30,000 after acquiring an additional 1,725 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of KKR Real Estate Finance Trust by 742.0% during the second quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company’s stock valued at $36,000 after acquiring an additional 3,658 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of KKR Real Estate Finance Trust by 64.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,732 shares of the company’s stock valued at $50,000 after acquiring an additional 2,238 shares during the period. Russell Investments Group Ltd. increased its holdings in KKR Real Estate Finance Trust by 700.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,851 shares of the company’s stock worth $62,000 after buying an additional 5,995 shares during the period. Finally, Parallel Advisors LLC grew its position in KKR Real Estate Finance Trust by 77,777.8% during the 3rd quarter. Parallel Advisors LLC now owns 7,009 shares of the company’s stock worth $63,000 after purchasing an additional 7,000 shares during the period. Institutional investors own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Company Profile

(Get Free Report)

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.

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