KKR Real Estate Finance Trust (NYSE:KREF) Price Target Raised to $14.00

KKR Real Estate Finance Trust (NYSE:KREF) had its target price increased by Raymond James from $13.00 to $14.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

KREF has been the subject of several other reports. BTIG Research reissued a buy rating and set a $11.50 price objective on shares of KKR Real Estate Finance Trust in a report on Friday, July 19th. JPMorgan Chase & Co. cut their price target on KKR Real Estate Finance Trust from $10.00 to $9.50 and set an overweight rating for the company in a research note on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods upgraded KKR Real Estate Finance Trust from a market perform rating to an outperform rating and boosted their price objective for the company from $11.50 to $13.00 in a research note on Thursday, September 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $12.14.

KKR Real Estate Finance Trust Stock Performance

Shares of KKR Real Estate Finance Trust stock opened at $12.61 on Thursday. The business’s fifty day simple moving average is $11.39 and its 200 day simple moving average is $10.24. The company has a current ratio of 392.62, a quick ratio of 392.62 and a debt-to-equity ratio of 3.86. KKR Real Estate Finance Trust has a 12 month low of $8.71 and a 12 month high of $14.12. The firm has a market capitalization of $874.05 million, a P/E ratio of -27.41 and a beta of 0.99.

KKR Real Estate Finance Trust (NYSE:KREF) last released its earnings results on Monday, July 22nd. The company reported ($1.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($1.87). KKR Real Estate Finance Trust had a net margin of 5.88% and a return on equity of 9.88%. The company had revenue of $47.60 million during the quarter, compared to analysts’ expectations of $45.47 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The firm’s revenue was down 6.7% compared to the same quarter last year. As a group, analysts anticipate that KKR Real Estate Finance Trust will post 1.35 EPS for the current year.

KKR Real Estate Finance Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.93%. The ex-dividend date is Monday, September 30th. KKR Real Estate Finance Trust’s payout ratio is currently -217.39%.

Institutional Trading of KKR Real Estate Finance Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in KREF. Mirae Asset Global Investments Co. Ltd. grew its holdings in KKR Real Estate Finance Trust by 9.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,148,784 shares of the company’s stock valued at $21,617,000 after buying an additional 178,603 shares in the last quarter. TrueMark Investments LLC bought a new position in shares of KKR Real Estate Finance Trust in the second quarter valued at approximately $1,305,000. Charles Schwab Investment Management Inc. increased its holdings in KKR Real Estate Finance Trust by 14.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 804,214 shares of the company’s stock worth $10,640,000 after acquiring an additional 104,360 shares during the period. Van ECK Associates Corp lifted its stake in KKR Real Estate Finance Trust by 31.2% in the 2nd quarter. Van ECK Associates Corp now owns 356,891 shares of the company’s stock worth $3,230,000 after purchasing an additional 84,889 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in KKR Real Estate Finance Trust by 45.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S 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. 70.23% of the stock is currently owned by institutional investors.

KKR Real Estate Finance Trust Company Profile

KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on originating and acquiring transitional senior loans secured by commercial real estate (CRE) assets. It engages in the origination and purchase of credit investments related to CRE, including leveraged and unleveraged commercial real estate loans.