KKR Real Estate Finance Trust (NYSE:KREF) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

KKR Real Estate Finance Trust (NYSE:KREF) issued its earnings results on Tuesday. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02, Briefing.com reports. The business had revenue of $151.62 million during the quarter, compared to analyst estimates of $43.16 million. KKR Real Estate Finance Trust had a positive return on equity of 10.59% and a negative net margin of 4.82%. During the same quarter in the previous year, the firm earned $0.48 EPS.

KKR Real Estate Finance Trust Trading Down 2.5 %

Shares of NYSE KREF traded down $0.25 during midday trading on Wednesday, hitting $9.77. The company’s stock had a trading volume of 417,284 shares, compared to its average volume of 588,166. The company has a current ratio of 361.76, a quick ratio of 361.75 and a debt-to-equity ratio of 4.32. The business’s 50 day moving average is $9.77 and its two-hundred day moving average is $11.31. KKR Real Estate Finance Trust has a 12-month low of $9.09 and a 12-month high of $14.12. The firm has a market cap of $677.16 million, a P/E ratio of -12.38 and a beta of 0.96.

KKR Real Estate Finance Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 10.24%. KKR Real Estate Finance Trust’s payout ratio is -128.21%.

Insiders Place Their Bets

In other news, COO W Patrick Mattson purchased 10,000 shares of the stock in a transaction on Thursday, February 8th. The stock was bought at an average price of $9.72 per share, with a total value of $97,200.00. Following the transaction, the chief operating officer now owns 308,446 shares in the company, valued at approximately $2,998,095.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other KKR Real Estate Finance Trust news, COO W Patrick Mattson purchased 10,000 shares of KKR Real Estate Finance Trust stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average price of $9.72 per share, with a total value of $97,200.00. Following the acquisition, the chief operating officer now owns 308,446 shares of the company’s stock, valued at approximately $2,998,095.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew A. Salem purchased 26,000 shares of KKR Real Estate Finance Trust stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average cost of $9.72 per share, with a total value of $252,720.00. Following the acquisition, the chief executive officer now directly owns 460,309 shares in the company, valued at approximately $4,474,203.48. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on KREF. Wells Fargo & Company dropped their target price on shares of KKR Real Estate Finance Trust from $12.00 to $10.50 and set an “overweight” rating on the stock in a report on Thursday, February 8th. JMP Securities cut their price objective on KKR Real Estate Finance Trust from $14.50 to $13.00 and set a “market outperform” rating for the company in a research note on Wednesday, February 7th. Finally, JPMorgan Chase & Co. cut their price target on KKR Real Estate Finance Trust from $11.50 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.33.

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.