KKR Real Estate Finance Trust (NYSE:KREF) Trading Down 6.9% on Analyst Downgrade

Posted by on Apr 26th, 2023

KKR Real Estate Finance Trust Inc. (NYSE:KREF – Get Rating) shares dropped 6.9% during trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $15.50 to $12.00. The company traded as low as $10.25 and last traded at $10.35. Approximately 160,506 shares were traded during trading, a decline of 68% from the average daily volume of 499,159 shares. The stock had previously closed at $11.12.

A number of other analysts have also commented on the stock. Citigroup lowered their target price on shares of KKR Real Estate Finance Trust from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, April 6th. JMP Securities decreased their price target on shares of KKR Real Estate Finance Trust from $19.00 to $18.00 and set a “market outperform” rating for the company in a report on Wednesday, February 1st. Finally, Keefe, Bruyette & Woods reduced their target price on shares of KKR Real Estate Finance Trust from $16.50 to $12.50 and set a “market perform” rating for the company in a research note on Thursday, April 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.36.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

A number of hedge funds have recently bought and sold shares of KREF. Parallel Advisors LLC acquired a new position in shares of KKR Real Estate Finance Trust during the fourth quarter valued at about $29,000. Quadrant Capital Group LLC grew its holdings in shares of KKR Real Estate Finance Trust by 422.1% during the third quarter. Quadrant Capital Group LLC now owns 2,052 shares of the company’s stock valued at $33,000 after buying an additional 1,659 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of KKR Real Estate Finance Trust during the second quarter valued at about $56,000. Tower Research Capital LLC TRC grew its holdings in shares of KKR Real Estate Finance Trust by 188.5% during the third quarter. Tower Research Capital LLC TRC now owns 4,102 shares of the company’s stock valued at $67,000 after buying an additional 2,680 shares during the last quarter. Finally, Catalyst Capital Advisors LLC grew its holdings in shares of KKR Real Estate Finance Trust by 20.1% during the fourth quarter. Catalyst Capital Advisors LLC now owns 4,840 shares of the company’s stock valued at $68,000 after buying an additional 810 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

KKR Real Estate Finance Trust Price Performance

The stock has a market capitalization of $717.26 million, a price-to-earnings ratio of 41.52 and a beta of 0.84. The business’s fifty day moving average price is $12.34 and its 200-day moving average price is $14.64. The company has a debt-to-equity ratio of 3.92, a current ratio of 272.77 and a quick ratio of 272.77.

KKR Real Estate Finance Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 16.57%. The ex-dividend date was Thursday, March 30th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently 688.00%.

About KKR Real Estate Finance Trust

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KKR Real Estate Finance Trust, Inc engages in originating and acquiring senior loans secured by commercial real estate assets. Its target assets include mezzanine loans, preferred equity and other debt-oriented instruments. The company’s investment objective is capital preservation and generating attractive risk-adjusted returns for its stockholders over the long term, primarily through dividends.

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