KKR Real Estate Finance Trust (NYSE:KREF) CEO Matthew Salem Acquires 60,000 Shares

KKR Real Estate Finance Trust (NYSE:KREF) CEO Matthew Salem purchased 60,000 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was bought at an average cost of $6.04 per share, with a total value of $362,400.00. Following the completion of the acquisition, the chief executive officer directly owned 703,075 shares of the company’s stock, valued at approximately $4,246,573. This trade represents a 9.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

KKR Real Estate Finance Trust Price Performance

KREF stock opened at $5.88 on Tuesday. The firm has a 50 day moving average of $6.59 and a 200-day moving average of $7.66. The company has a current ratio of 407.64, a quick ratio of 407.64 and a debt-to-equity ratio of 3.90. KKR Real Estate Finance Trust has a 12 month low of $5.25 and a 12 month high of $9.98. The firm has a market capitalization of $377.76 million, a P/E ratio of -3.16 and a beta of 0.91.

KKR Real Estate Finance Trust (NYSE:KREF) last released its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). KKR Real Estate Finance Trust had a negative net margin of 23.55% and a negative return on equity of 0.78%. The firm had revenue of $20.89 million during the quarter, compared to the consensus estimate of $28.76 million. As a group, sell-side analysts predict that KKR Real Estate Finance Trust will post 0.11 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given 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 is Tuesday, June 30th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is -53.76%.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

Hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. lifted its position in KKR Real Estate Finance Trust by 210.5% during the fourth quarter. Hantz Financial Services Inc. now owns 3,099 shares of the company’s stock valued at $25,000 after purchasing an additional 2,101 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in KKR Real Estate Finance Trust by 178.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company’s stock worth $29,000 after purchasing an additional 2,266 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in 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 worth $30,000 after purchasing an additional 1,725 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in KKR Real Estate Finance Trust by 742.0% during the second quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company’s stock worth $36,000 after purchasing an additional 3,658 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in KKR Real Estate Finance Trust during the third quarter worth about $48,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KREF shares. JPMorgan Chase & Co. dropped their price objective on KKR Real Estate Finance Trust from $8.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Zacks Research raised KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Keefe, Bruyette & Woods dropped their price objective on KKR Real Estate Finance Trust from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday. BTIG Research lowered KKR Real Estate Finance Trust from a “buy” rating to a “neutral” rating in a research note on Thursday, February 5th. Finally, Citizens Jmp lowered KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a research note on Monday. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.80.

KKR Real Estate Finance Trust Company 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.