KKR Real Estate Finance Trust (NYSE:KREF) Announces Quarterly Earnings Results

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

KKR Real Estate Finance Trust Stock Performance

Shares of NYSE KREF traded down $0.25 during trading on Wednesday, reaching $9.77. 445,988 shares of the stock traded hands, compared to its average volume of 588,166. KKR Real Estate Finance Trust has a 52-week low of $9.09 and a 52-week high of $14.12. The company has a debt-to-equity ratio of 4.32, a current ratio of 361.76 and a quick ratio of 361.75. The company has a 50-day moving average of $9.77 and a 200-day moving average of $11.31. The stock has a market capitalization of $677.16 million, a P/E ratio of -12.53 and a beta of 0.96.

KKR Real Estate Finance Trust Cuts Dividend

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

KREF has been the topic of several research analyst reports. JMP Securities cut their price objective on KKR Real Estate Finance Trust from $14.50 to $13.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 7th. JPMorgan Chase & Co. cut their price objective on KKR Real Estate Finance Trust from $11.50 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company dropped their price target on KKR Real Estate Finance Trust from $12.00 to $10.50 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, 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.