KKR Real Estate Finance Trust Inc. (NYSE:KREF – Get Free Report) shares hit a new 52-week low during trading on Friday. The stock fell to a low of $8.93 and was last traded at $9.03 on trading volume of 44,086 shares. The stock's previous closing price was $9.19.
Analyst upgrades and downgrades
Several equity research analysts have recently issued their opinions on KREF stock. JPMorgan Chase lowered their price target on KKR Real Estate Finance Trust from $11.50 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods lowered their price target on KKR Real Estate Finance Trust from $10.00 to $9.75 and gave the company a “market average” rating in a research report on Friday, April 26th. Finally, JMP Securities reaffirmed their “market average” rating and set a $12.00 price target for KKR Real Estate Finance Trust in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $11.82.
Check out KREF's latest research report
KKR Real Estate Finance Trust Price Performance
The company has a market capitalization of $627.26 million, a P/E ratio of -19.67 and a beta of 0.99. The company's 50-day moving average price is $9.51 and its 200-day moving average price is $10.58. The company has a current ratio of 364.56, a quick ratio of 364.56 and a debt-to-equity ratio of 4.20.
KKR Real Estate Finance Trust (NYSE:KREF – get free report ) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. KKR Real Estate Finance Trust had a positive return on equity of 10.38% and a negative net margin of 1.39%. The company's revenue for the quarter was $151.62 million, beating analyst expectations of $43.16 million. Year-ago earnings per share for the company were $0.48. As a group, sell-side analysts expect KKR Real Estate Finance Trust to post earnings per share of $1.21 for the current year.
KKR Real Estate Finance Trust Dividend Announcement
The company also recently declared a quarterly dividend, which is scheduled to be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, June 28th. This equates to a $1.00 dividend on an annualized basis, or a dividend yield of 11.05%. KKR Real Estate Finance Trust has a dividend payout ratio (DPR) of -217.39%.
Hedge funds step in to KKR Real Estate Finance Trust
A number of large investors have been buying and selling shares of the company recently. Significant Wealth Partners LLC acquired a new stake in KKR Real Estate Finance Trust in the fourth quarter, valued at $2,838,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in KKR Real Estate Finance Trust by 9.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,148,784 shares of the company's stock, valued at $21,617,000, after acquiring an additional 178,603 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in KKR Real Estate Finance Trust by 18.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 699,854 shares of the company's stock, valued at $8,307,000, after purchasing an additional 109,995 shares in the last quarter. BI Asset Management Fondsmaeglerselskab AS increased its stake in KKR Real Estate Finance Trust by 45.9% during the first quarter. BI Asset Management Fondsmaeglerselskab AS now owns 212,100 shares of the company's stock valued at $2,134,000 after purchasing an additional 66,716 shares during the period. Finally, Quantbot Technologies LP acquired a new position in KKR Real Estate Finance Trust in the first quarter worth about $442,000. Institutional investors now own 70.23% of the company's shares.
KKR Real Estate Finance Trust Company Profile
(Get your free report)
KKR Real Estate Finance Trust Inc is a mortgage real estate investment trust focused on originating and acquiring transitional senior loans secured primarily by commercial real estate (CRE) assets. The firm originates and purchases CRE-related credit investments, including leveraged and unleveraged commercial real estate loans.
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