KKR Real Estate Finance Trust (NYSE:KREF) Downgraded by JPMorgan Chase & Co. to “Underweight”

JPMorgan Chase & Co. downgraded shares of KKR Real Estate Finance Trust (NYSE:KREF) from a neutral rating to an underweight rating in a research note published on Friday morning, MarketBeat reports. They currently have $6.00 price objective on the stock.

Several other equities research analysts have also recently issued reports on KREF. Wells Fargo & Company lowered their target price on shares of KKR Real Estate Finance Trust from $9.00 to $7.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research report on Tuesday, April 21st. Citizens Jmp downgraded shares of KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a report on Monday, April 27th. Zacks Research upgraded KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. 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 report on Friday, April 24th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $8.30.

KKR Real Estate Finance Trust Stock Performance

KREF opened at $7.28 on Friday. The firm’s fifty day simple moving average is $6.92 and its two-hundred day simple moving average is $7.04. KKR Real Estate Finance Trust has a 52-week low of $5.25 and a 52-week high of $9.98. The company has a market cap of $468.30 million, a price-to-earnings ratio of -3.92 and a beta of 0.82. 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 quarterly earnings results on Wednesday, April 22nd. The company reported ($0.06) earnings per share 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 company had revenue of $20.89 million during the quarter, compared to analysts’ expectations of $28.76 million. Equities analysts anticipate that KKR Real Estate Finance Trust will post -1.63 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.5%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -21.51%.

Insider Activity at KKR Real Estate Finance Trust

In other news, COO W Patrick Mattson purchased 40,000 shares of the stock in a transaction dated Friday, April 24th. The stock was acquired at an average cost 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 in the company, valued at approximately $3,016,730.61. This represents a 8.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew A. Salem bought 60,000 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were purchased at an average price 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 in the company, valued at $4,246,573. This trade represents a 9.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.12% of the stock is currently owned by company insiders.

Institutional Trading of KKR Real Estate Finance Trust

A number of large investors have recently modified their holdings of KREF. Hantz Financial Services Inc. grew its position in shares of 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 worth $25,000 after buying an additional 2,101 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of 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 in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of 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 in the last quarter. EverSource Wealth Advisors LLC raised its stake in KKR Real Estate Finance Trust by 742.0% in the second 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 in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in KKR Real Estate Finance Trust by 64.1% in the second quarter. Tower Research Capital LLC TRC now owns 5,732 shares of the company’s stock valued at $50,000 after buying an additional 2,238 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.