Fox Run Management L.L.C. Decreases Stake in KKR Real Estate Finance Trust $KREF

Fox Run Management L.L.C. cut its position in shares of KKR Real Estate Finance Trust (NYSE:KREF) by 42.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 28,199 shares of the company’s stock after selling 20,738 shares during the period. Fox Run Management L.L.C.’s holdings in KKR Real Estate Finance Trust were worth $247,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KREF. Graham Capital Management L.P. boosted its position in shares of KKR Real Estate Finance Trust by 72.4% during the 1st quarter. Graham Capital Management L.P. now owns 77,063 shares of the company’s stock valued at $832,000 after acquiring an additional 32,374 shares during the last quarter. Drive Wealth Management LLC raised its stake in KKR Real Estate Finance Trust by 12.9% during the second quarter. Drive Wealth Management LLC now owns 119,601 shares of the company’s stock valued at $1,079,000 after purchasing an additional 13,658 shares in the last quarter. Nuveen LLC bought a new position in KKR Real Estate Finance Trust during the first quarter valued at $2,241,000. Charles Schwab Investment Management Inc. grew its stake in shares of KKR Real Estate Finance Trust by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 666,973 shares of the company’s stock worth $7,203,000 after buying an additional 29,112 shares in the last quarter. Finally, Rhino Investment Partners Inc increased its holdings in shares of KKR Real Estate Finance Trust by 207.7% in the 1st quarter. Rhino Investment Partners Inc now owns 296,668 shares of the company’s stock worth $3,204,000 after buying an additional 200,244 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Stock Up 0.5%

Shares of NYSE:KREF opened at $8.28 on Friday. The firm has a market capitalization of $541.93 million, a PE ratio of -23.64 and a beta of 0.90. The business has a 50 day simple moving average of $8.85 and a two-hundred day simple moving average of $9.07. KKR Real Estate Finance Trust has a 1 year low of $7.78 and a 1 year high of $11.85. 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 (NYSE:KREF) last issued its quarterly earnings results on Tuesday, October 21st. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). KKR Real Estate Finance Trust had a negative return on equity of 0.60% and a negative net margin of 0.12%.The business had revenue of $31.41 million during the quarter, compared to analysts’ expectations of $29.90 million. On average, equities analysts predict that KKR Real Estate Finance Trust will post 1.05 EPS for the current year.

KKR Real Estate Finance Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 12.1%. The ex-dividend date was Tuesday, September 30th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is -285.71%.

Insider Activity

In related news, CEO Matthew A. Salem acquired 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average price of $7.84 per share, for a total transaction of $250,880.00. Following the acquisition, the chief executive officer directly owned 561,825 shares of the company’s stock, valued at $4,404,708. This represents a 6.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christen E.J. Lee acquired 10,000 shares of the stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $7.80 per share, with a total value of $78,000.00. Following the completion of the transaction, the director owned 229,133 shares in the company, valued at $1,787,237.40. This trade represents a 4.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 55,000 shares of company stock valued at $431,710. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Zacks Research raised shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wells Fargo & Company lowered their price objective on KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their target price on KKR Real Estate Finance Trust from $9.50 to $8.75 and set a “market perform” rating on the stock in a research report on Thursday, October 23rd. Finally, Wall Street Zen upgraded KKR Real Estate Finance Trust from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.94.

About KKR Real Estate Finance Trust

KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on originating and acquiring transitional senior loans secured by commercial real estate (CRE) assets. It engages in the origination and purchase of credit investments related to CRE, including leveraged and unleveraged commercial real estate loans.