KKR Real Estate Finance Trust (NYSE:KREF) Downgraded to “Market Perform” Rating by Citizens Jmp

Citizens Jmp lowered shares of KKR Real Estate Finance Trust (NYSE:KREF) from an outperform rating to a market perform rating in a research note released on Monday morning, Marketbeat.com reports.

Several other research firms have also recently weighed in on KREF. Weiss Ratings reissued a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Tuesday, April 21st. Citigroup cut KKR Real Estate Finance Trust from a “neutral” rating to a “market perform” rating in a research report on Monday. Wells Fargo & Company lowered 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 report on Thursday, February 5th. BTIG Research cut KKR Real Estate Finance Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods cut their price target 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. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, KKR Real Estate Finance Trust presently has a consensus rating of “Hold” and an average price target of $8.80.

KKR Real Estate Finance Trust Stock Down 2.2%

KREF opened at $5.88 on Monday. The stock has a market capitalization of $377.76 million, a price-to-earnings ratio of -3.16 and a beta of 0.91. The firm has a 50 day moving average price of $6.59 and a 200-day moving average price of $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) last issued its earnings results on Wednesday, April 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). KKR Real Estate Finance Trust had a negative return on equity of 0.78% and a negative net margin of 23.55%.The company had revenue of $20.89 million during the quarter, compared to analysts’ expectations of $28.76 million. Equities research analysts forecast that KKR Real Estate Finance Trust will post 0.11 earnings per share for the current year.

KKR Real Estate Finance Trust Cuts Dividend

The firm 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.8%. KKR Real Estate Finance Trust’s payout ratio is presently -53.76%.

Insider Buying and Selling at KKR Real Estate Finance Trust

In related news, CEO Matthew A. Salem bought 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were bought at an average cost of $6.04 per share, with a total value of $362,400.00. Following the acquisition, the chief executive officer owned 703,075 shares in the company, valued at $4,246,573. This trade represents a 9.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO W Patrick Mattson bought 40,000 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were bought at an average price of $6.03 per share, for a total transaction of $241,200.00. Following the completion of the transaction, the chief operating officer directly owned 500,287 shares of the company’s stock, valued at $3,016,730.61. This represents a 8.69% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KREF. Hantz Financial Services Inc. grew its stake in shares of KKR Real Estate Finance Trust by 210.5% during the 4th 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. PNC Financial Services Group Inc. raised its stake in KKR Real Estate Finance Trust by 178.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company’s stock worth $29,000 after acquiring an additional 2,266 shares during the period. Geneos Wealth Management Inc. lifted its holdings 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 valued at $30,000 after purchasing an additional 1,725 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $36,000 after purchasing an additional 3,658 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new position in shares of KKR Real Estate Finance Trust in the third quarter worth approximately $48,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

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.