KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) COO W Patrick Mattson purchased 40,000 shares of KKR Real Estate Finance Trust stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average cost of $6.03 per share, for a total transaction of $241,200.00. Following the completion of the purchase, the chief operating officer owned 500,287 shares of the company's stock, valued at $3,016,730.61. This trade represents a 8.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
KKR Real Estate Finance Trust Price Performance
Shares of KREF stock opened at $5.88 on Tuesday. The stock has a market cap of $377.76 million, a price-to-earnings ratio of -3.16 and a beta of 0.91. The business's fifty day moving average is $6.59 and its 200 day moving average is $7.66. KKR Real Estate Finance Trust has a twelve month low of $5.25 and a twelve month high of $9.98. The company has a quick ratio of 407.64, a current ratio of 407.64 and a debt-to-equity ratio of 3.90.
KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.17). The firm had revenue of $20.89 million during the quarter, compared to analysts' expectations of $28.76 million. KKR Real Estate Finance Trust had a negative return on equity of 0.78% and a negative net margin of 23.55%. Research analysts expect that KKR Real Estate Finance Trust will post 0.11 EPS for the current fiscal year.
KKR Real Estate Finance Trust Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Tuesday, June 30th. KKR Real Estate Finance Trust's dividend payout ratio is currently -53.76%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of KKR Real Estate Finance Trust by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company's stock valued at $30,000 after purchasing an additional 1,725 shares in the last quarter. Cura Wealth Advisors LLC lifted its holdings in shares of KKR Real Estate Finance Trust by 2.0% during the fourth quarter. Cura Wealth Advisors LLC now owns 100,672 shares of the company's stock valued at $828,000 after purchasing an additional 1,976 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in KKR Real Estate Finance Trust by 210.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,099 shares of the company's stock valued at $25,000 after acquiring an additional 2,101 shares during the period. Tower Research Capital LLC TRC lifted its holdings in KKR Real Estate Finance Trust by 64.1% in the second quarter. Tower Research Capital LLC TRC now owns 5,732 shares of the company's stock valued at $50,000 after acquiring an additional 2,238 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in KKR Real Estate Finance Trust by 178.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company's stock valued at $29,000 after acquiring an additional 2,266 shares during the period. 70.23% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. BTIG Research cut KKR Real Estate Finance Trust from a "buy" rating to a "neutral" rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. cut their target price on KKR Real Estate Finance Trust from $8.00 to $6.50 and set a "neutral" rating on the stock in a research note on Thursday, April 16th. Keefe, Bruyette & Woods cut their target price on KKR Real Estate Finance Trust from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Friday. Weiss Ratings reissued a "sell (d)" rating on shares of KKR Real Estate Finance Trust in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company cut their target price on KKR Real Estate Finance Trust from $10.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $8.80.
Get Our Latest Research Report on KREF
KKR Real Estate Finance Trust Company Profile
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Get Free Report)
KKR Real Estate Finance Trust, Inc (NYSE: KREF) is a mortgage real estate investment trust sponsored by KKR & Co Inc The company focuses on originating, acquiring, financing and managing a diversified portfolio of commercial real estate debt and real estate-related assets across the United States and select European markets.
The trust's investment strategy is centered on lending to high-quality office, industrial, retail, multifamily and hotel properties. Its portfolio primarily consists of senior mortgage loans, mezzanine loans, floating-rate debt securities and preferred equity positions.
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