Corient Private Wealth LP bought a new stake in KKR Real Estate Finance Trust (NYSE:KREF – Free Report) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 193,190 shares of the company’s stock, valued at approximately $1,321,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. Beach Point Capital Management LP acquired a new stake in shares of KKR Real Estate Finance Trust in the 4th quarter valued at $1,634,000. Conversant Capital LLC purchased a new position in KKR Real Estate Finance Trust in the first quarter valued at $9,000,000. Endure Capital Management LLC purchased a new position in KKR Real Estate Finance Trust in the first quarter valued at $1,545,000. Compass Rose Asset Management LP acquired a new stake in KKR Real Estate Finance Trust in the fourth quarter valued at $2,754,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in KKR Real Estate Finance Trust during the 1st quarter worth about $1,602,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.
KKR Real Estate Finance Trust Stock Up 1.2%
KKR Real Estate Finance Trust stock opened at $7.65 on Friday. The stock’s 50 day moving average price is $7.39 and its 200 day moving average price is $6.91. KKR Real Estate Finance Trust has a 1-year low of $5.25 and a 1-year high of $9.98. The company has a market cap of $448.12 million, a PE ratio of -2.33 and a beta of 0.83. The company has a debt-to-equity ratio of 4.36, a current ratio of 407.64 and a quick ratio of 407.64.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on KREF shares. Raymond James Financial raised KKR Real Estate Finance Trust from an “outperform” rating to a “strong-buy” rating and set a $9.50 price objective on the stock in a report on Thursday, August 6th. Wall Street Zen lowered KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. reduced their price objective on KKR Real Estate Finance Trust from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, July 24th. Keefe, Bruyette & Woods increased their price objective on KKR Real Estate Finance Trust from $6.50 to $7.00 and gave the company a “market perform” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.92.
Read Our Latest Stock Report on KREF
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.
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