Teacher Retirement System of Texas Raises Holdings in KKR Real Estate Finance Trust (NYSE:KREF)

Teacher Retirement System of Texas lifted its position in KKR Real Estate Finance Trust (NYSE:KREF) by 15.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,980 shares of the company’s stock after buying an additional 2,002 shares during the period. Teacher Retirement System of Texas’ holdings in KKR Real Estate Finance Trust were worth $162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of KREF. Raymond James Financial Inc. purchased a new position in shares of KKR Real Estate Finance Trust in the 4th quarter worth $1,835,000. Virtu Financial LLC bought a new position in KKR Real Estate Finance Trust in the 4th quarter worth $330,000. KLP Kapitalforvaltning AS bought a new position in KKR Real Estate Finance Trust in the 4th quarter worth $96,000. Fox Run Management L.L.C. raised its holdings in KKR Real Estate Finance Trust by 35.5% in the 4th quarter. Fox Run Management L.L.C. now owns 23,299 shares of the company’s stock worth $235,000 after purchasing an additional 6,110 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in KKR Real Estate Finance Trust by 31.7% in the 4th quarter. JPMorgan Chase & Co. now owns 728,875 shares of the company’s stock worth $7,362,000 after purchasing an additional 175,603 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

KKR Real Estate Finance Trust Trading Down 1.2%

Shares of KREF stock opened at $8.89 on Monday. KKR Real Estate Finance Trust has a 12-month low of $8.28 and a 12-month high of $12.95. The company has a current ratio of 413.32, a quick ratio of 413.32 and a debt-to-equity ratio of 3.77. The stock’s 50-day moving average price is $9.14 and its 200-day moving average price is $9.86. The stock has a market capitalization of $602.83 million, a price-to-earnings ratio of 55.57 and a beta of 0.91.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its earnings results on Wednesday, April 23rd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.32). KKR Real Estate Finance Trust had a return on equity of 5.90% and a net margin of 6.42%. The firm had revenue of $31.34 million during the quarter, compared to the consensus estimate of $34.77 million. Equities research analysts predict that KKR Real Estate Finance Trust will post 1.05 EPS for the current fiscal year.

KKR Real Estate Finance Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 11.25%. KKR Real Estate Finance Trust’s payout ratio is currently 625.00%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KREF. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 target price on shares of KKR Real Estate Finance Trust in a report on Tuesday, May 20th. JPMorgan Chase & Co. cut their target price on KKR Real Estate Finance Trust from $11.50 to $9.50 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating and set a $10.75 target price for the company. in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.95.

About KKR Real Estate Finance Trust

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.