Y Intercept Hong Kong Ltd bought a new position in KKR Real Estate Finance Trust (NYSE:KREF – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 261,690 shares of the company’s stock, valued at approximately $1,602,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beach Point Capital Management LP bought a new stake in shares of KKR Real Estate Finance Trust in the fourth quarter valued at about $1,634,000. Compass Rose Asset Management LP bought a new position in KKR Real Estate Finance Trust during the fourth quarter valued at about $2,754,000. Able Wealth Management LLC acquired a new position in KKR Real Estate Finance Trust in the 1st quarter valued at approximately $112,000. Quotient Wealth Partners LLC acquired a new position in KKR Real Estate Finance Trust in the 1st quarter valued at approximately $72,000. Finally, Whetstone Capital Advisors LLC lifted its position in shares of KKR Real Estate Finance Trust by 9.9% in the 4th quarter. Whetstone Capital Advisors LLC now owns 26,609 shares of the company’s stock worth $219,000 after acquiring an additional 2,400 shares during the period. 70.23% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on KREF. Citigroup downgraded shares of KKR Real Estate Finance Trust from a “neutral” rating to a “market perform” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Tuesday, April 21st. Zacks Research downgraded shares of KKR Real Estate Finance Trust from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. JPMorgan Chase & Co. decreased their target price on shares of KKR Real Estate Finance Trust from $8.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Finally, Citizens Jmp cut shares of KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $8.40.
Insider Activity
In related news, CEO Matthew A. Salem bought 60,000 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average price of $6.04 per share, with a total value of $362,400.00. Following the completion of the transaction, the chief executive officer owned 703,075 shares in the company, valued at $4,246,573. The trade was a 9.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO W Patrick Mattson acquired 40,000 shares of the company’s stock in a transaction dated 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 purchase, the chief operating officer owned 500,287 shares in the company, valued at approximately $3,016,730.61. This represents a 8.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.12% of the company’s stock.
KKR Real Estate Finance Trust Stock Up 0.7%
NYSE KREF opened at $7.23 on Friday. The stock has a fifty day moving average of $6.80 and a 200-day moving average of $7.07. The stock has a market capitalization of $464.70 million, a P/E ratio of -3.89 and a beta of 0.82. 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 debt-to-equity ratio of 3.90, a quick ratio of 407.64 and a current ratio of 407.64.
KKR Real Estate Finance Trust (NYSE:KREF – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.06) earnings per share (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 business had revenue of $20.89 million during the quarter, compared to the consensus estimate of $28.76 million. On average, equities research analysts forecast that KKR Real Estate Finance Trust will post -1.63 EPS for the current year.
KKR Real Estate Finance Trust Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.5%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is currently -21.51%.
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.
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