Brokerages Set KKR Real Estate Finance Trust (NYSE:KREF) Price Target at $9.50

KKR Real Estate Finance Trust (NYSE:KREF) has received an average rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $9.50.

A number of research analysts have weighed in on KREF shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Thursday, January 22nd. JPMorgan Chase & Co. dropped their price target on shares of KKR Real Estate Finance Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Wells Fargo & Company decreased their price objective on KKR Real Estate Finance Trust from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Zacks Research lowered KKR Real Estate Finance Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Finally, Citizens Jmp decreased their price target on KKR Real Estate Finance Trust from $10.00 to $9.50 and set a “market outperform” rating for the company in a report on Monday, March 23rd.

KKR Real Estate Finance Trust Stock Down 4.6%

KREF stock opened at $6.12 on Wednesday. The stock’s 50 day simple moving average is $7.21 and its 200 day simple moving average is $8.11. The company has a market cap of $393.07 million, a P/E ratio of -5.82 and a beta of 0.90. The company has a debt-to-equity ratio of 3.83, a quick ratio of 407.64 and a current ratio of 407.64. KKR Real Estate Finance Trust has a fifty-two week low of $6.04 and a fifty-two week high of $11.24.

KKR Real Estate Finance Trust (NYSE:KREF) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.14 by $0.08. KKR Real Estate Finance Trust had a negative return on equity of 1.13% and a negative net margin of 10.80%.The firm had revenue of $32.72 million during the quarter, compared to the consensus estimate of $26.06 million. On average, research analysts expect that KKR Real Estate Finance Trust will post 1.05 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 16.4%. The ex-dividend date of this dividend is Tuesday, March 31st. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -95.24%.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its stake in shares of KKR Real Estate Finance Trust by 75.8% in the 4th quarter. XTX Topco Ltd now owns 84,190 shares of the company’s stock worth $692,000 after buying an additional 36,311 shares during the last quarter. Wellington Management Group LLP boosted its position in KKR Real Estate Finance Trust by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 574,289 shares of the company’s stock worth $4,721,000 after purchasing an additional 26,878 shares during the last quarter. Guggenheim Capital LLC bought a new position in KKR Real Estate Finance Trust in the 4th quarter valued at $163,000. Russell Investments Group Ltd. increased its position in shares of KKR Real Estate Finance Trust by 89.1% during the 4th quarter. Russell Investments Group Ltd. now owns 12,955 shares of the company’s stock valued at $106,000 after purchasing an additional 6,104 shares during the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in shares of KKR Real Estate Finance Trust during the 4th quarter worth $159,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

About KKR Real Estate Finance Trust

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.