1832 Asset Management L.P. Invests $570,000 in KKR Real Estate Finance Trust $KREF

1832 Asset Management L.P. acquired a new stake in shares of KKR Real Estate Finance Trust (NYSE:KREF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 65,000 shares of the company’s stock, valued at approximately $570,000. 1832 Asset Management L.P. owned approximately 0.10% of KKR Real Estate Finance Trust at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey lifted its position in shares of KKR Real Estate Finance Trust by 12.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,466 shares of the company’s stock valued at $118,000 after buying an additional 1,457 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of KKR Real Estate Finance Trust by 6.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 33,895 shares of the company’s stock worth $296,000 after acquiring an additional 1,913 shares in the last quarter. Quarry LP purchased a new stake in KKR Real Estate Finance Trust during the first quarter valued at approximately $28,000. Allworth Financial LP boosted its stake in KKR Real Estate Finance Trust by 3,904.6% in the second quarter. Allworth Financial LP now owns 4,365 shares of the company’s stock valued at $38,000 after acquiring an additional 4,256 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in KKR Real Estate Finance Trust in the first quarter valued at approximately $66,000. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at KKR Real Estate Finance Trust

In related news, Director Ralph F. Rosenberg sold 125,289 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $8.25, for a total transaction of $1,033,634.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christen E.J. Lee acquired 10,000 shares of the business’s stock in a transaction on Friday, November 7th. The stock was acquired at an average price of $7.80 per share, with a total value of $78,000.00. Following the acquisition, the director owned 229,133 shares in the company, valued at $1,787,237.40. The trade was a 4.56% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 55,000 shares of company stock valued at $431,710. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised KKR Real Estate Finance Trust from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their price objective on shares of KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Zacks Research raised KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $9.00 price objective (down previously from $9.50) on shares of KKR Real Estate Finance Trust in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.94.

KKR Real Estate Finance Trust Stock Performance

NYSE KREF opened at $8.56 on Monday. The company has a debt-to-equity ratio of 3.63, a current ratio of 423.43 and a quick ratio of 423.43. The stock’s 50 day simple moving average is $8.46 and its 200-day simple moving average is $8.97. The company has a market cap of $560.86 million, a PE ratio of -24.47 and a beta of 0.89. KKR Real Estate Finance Trust has a 1-year low of $7.78 and a 1-year high of $11.70.

KKR Real Estate Finance Trust (NYSE:KREF) last posted its quarterly earnings data on Tuesday, October 21st. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). KKR Real Estate Finance Trust had a negative net margin of 0.12% and a negative return on equity of 0.60%. The firm had revenue of $31.41 million during the quarter, compared to analyst estimates of $29.90 million. As a group, equities research analysts anticipate that KKR Real Estate Finance Trust will post 1.05 EPS for the current fiscal year.

KKR Real Estate Finance Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.7%. The ex-dividend date of this dividend was Tuesday, September 30th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is currently -285.71%.

KKR Real Estate Finance Trust 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.