Drive Wealth Management LLC Sells 94,460 Shares of KKR Real Estate Finance Trust $KREF

Drive Wealth Management LLC cut its stake in shares of KKR Real Estate Finance Trust (NYSE:KREF) by 79.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,141 shares of the company’s stock after selling 94,460 shares during the quarter. Drive Wealth Management LLC’s holdings in KKR Real Estate Finance Trust were worth $233,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its holdings in shares of KKR Real Estate Finance Trust by 100.0% in 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. EverSource Wealth Advisors LLC increased its stake in shares of KKR Real Estate Finance Trust by 742.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company’s stock valued at $36,000 after buying an additional 3,658 shares during the period. Allworth Financial LP increased its stake in shares of KKR Real Estate Finance Trust by 3,904.6% in the 2nd quarter. Allworth Financial LP now owns 4,365 shares of the company’s stock valued at $38,000 after buying an additional 4,256 shares during the period. Tower Research Capital LLC TRC raised its position in shares of KKR Real Estate Finance Trust by 64.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,732 shares of the company’s stock worth $50,000 after acquiring an additional 2,238 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in KKR Real Estate Finance Trust in the first quarter valued at about $66,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, Director Ralph F. Rosenberg sold 125,289 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $8.25, for a total transaction of $1,033,634.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Matthew A. Salem purchased 32,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were purchased at an average cost of $7.84 per share, for a total transaction of $250,880.00. Following the completion of the transaction, the chief executive officer directly owned 561,825 shares of the company’s stock, valued at approximately $4,404,708. This represents a 6.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 55,000 shares of company stock valued at $431,710 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KREF shares. Wells Fargo & Company reduced their price objective on shares of KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. 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 report on Monday, October 20th. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Thursday. Keefe, Bruyette & Woods decreased their target price on KKR Real Estate Finance Trust from $8.75 to $8.25 and set a “market perform” rating for the company in a research report on Thursday, January 8th. Finally, Zacks Research raised shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.81.

KKR Real Estate Finance Trust Trading Down 0.9%

KKR Real Estate Finance Trust stock opened at $8.15 on Friday. The company has a market cap of $533.42 million, a price-to-earnings ratio of -23.27 and a beta of 0.89. The firm has a 50-day moving average of $8.34 and a 200-day moving average of $8.79. The company has a debt-to-equity ratio of 3.63, a current ratio of 423.43 and a quick ratio of 423.43. KKR Real Estate Finance Trust has a one year low of $7.55 and a one year high of $11.53.

KKR Real Estate Finance Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 12.3%. The ex-dividend date of this dividend was Wednesday, December 31st. KKR Real Estate Finance Trust’s dividend payout ratio is presently -285.71%.

KKR Real Estate Finance Trust Profile

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.