Keefe, Bruyette & Woods Lowers KKR Real Estate Finance Trust (NYSE:KREF) Price Target to $8.25

KKR Real Estate Finance Trust (NYSE:KREF) had its target price dropped by equities researchers at Keefe, Bruyette & Woods from $8.75 to $8.25 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 3.71% from the stock’s previous close.

KREF has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Wednesday, October 8th. Zacks Research upgraded KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $9.00 price target (down from $9.50) on shares of KKR Real Estate Finance Trust in a report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.81.

KKR Real Estate Finance Trust Stock Performance

Shares of KREF stock opened at $7.96 on Thursday. The company has a debt-to-equity ratio of 3.63, a current ratio of 423.43 and a quick ratio of 423.43. The firm has a 50-day moving average of $8.34 and a 200-day moving average of $8.85. KKR Real Estate Finance Trust has a one year low of $7.55 and a one year high of $11.53. The company has a market cap of $520.97 million, a P/E ratio of -22.73 and a beta of 0.89.

KKR Real Estate Finance Trust (NYSE:KREF) last released 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). The firm had revenue of $31.41 million for the quarter, compared to analysts’ expectations of $29.90 million. KKR Real Estate Finance Trust had a negative return on equity of 0.60% and a negative net margin of 0.12%. Equities research analysts forecast that KKR Real Estate Finance Trust will post 1.05 EPS for the current fiscal year.

Insider Transactions at KKR Real Estate Finance Trust

In other news, CEO Matthew A. Salem acquired 32,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average cost of $7.84 per share, for a total transaction of $250,880.00. Following the purchase, the chief executive officer owned 561,825 shares of the company’s stock, valued at approximately $4,404,708. The trade was a 6.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO W Patrick Mattson acquired 13,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average cost of $7.91 per share, for a total transaction of $102,830.00. Following the completion of the acquisition, the chief operating officer owned 386,787 shares of the company’s stock, valued at approximately $3,059,485.17. The trade was a 3.48% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 55,000 shares of company stock worth $431,710. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its holdings in KKR Real Estate Finance Trust by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company’s stock valued at $30,000 after acquiring an additional 1,725 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 3,658 shares in the last quarter. Allworth Financial LP raised its stake in shares of KKR Real Estate Finance Trust by 3,904.6% during the 2nd quarter. Allworth Financial LP now owns 4,365 shares of the company’s stock valued at $38,000 after purchasing an additional 4,256 shares during the period. Cloud Capital Management LLC purchased a new stake in KKR Real Estate Finance Trust during the 3rd quarter worth about $48,000. Finally, Tower Research Capital LLC TRC lifted its holdings in KKR Real Estate Finance Trust by 64.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,732 shares of the company’s stock worth $50,000 after purchasing an additional 2,238 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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.