Drive Wealth Management LLC Has $233,000 Position in KKR Real Estate Finance Trust $KREF

Drive Wealth Management LLC lessened its holdings in KKR Real Estate Finance Trust (NYSE:KREF) by 79.0% during the third quarter, Holdings Channel reports. The fund owned 25,141 shares of the company’s stock after selling 94,460 shares during the period. Drive Wealth Management LLC’s holdings in KKR Real Estate Finance Trust were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KREF. Balyasny Asset Management L.P. lifted its stake in shares of KKR Real Estate Finance Trust by 368.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 536,084 shares of the company’s stock worth $4,701,000 after buying an additional 421,657 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of KKR Real Estate Finance Trust by 92.2% during the second quarter. Invesco Ltd. now owns 841,503 shares of the company’s stock worth $7,380,000 after acquiring an additional 403,660 shares during the period. Bank of America Corp DE grew its position in shares of KKR Real Estate Finance Trust by 148.3% in the second quarter. Bank of America Corp DE now owns 312,596 shares of the company’s stock valued at $2,741,000 after purchasing an additional 186,687 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of KKR Real Estate Finance Trust by 317.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,589 shares of the company’s stock worth $2,210,000 after purchasing an additional 155,553 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in KKR Real Estate Finance Trust by 262.2% during the 2nd quarter. Prudential Financial Inc. now owns 204,308 shares of the company’s stock worth $1,792,000 after purchasing an additional 147,895 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity at KKR Real Estate Finance Trust

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 acquired at an average cost of $7.84 per share, for a total transaction of $250,880.00. Following the completion of the acquisition, the chief executive officer directly owned 561,825 shares of the company’s stock, valued at approximately $4,404,708. This trade represents a 6.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christen E.J. Lee bought 10,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $7.80 per share, with a total value of $78,000.00. Following the purchase, the director directly owned 229,133 shares of the company’s stock, valued at $1,787,237.40. The trade was a 4.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 55,000 shares of company stock worth $431,710 over the last three months. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KREF. Zacks Research upgraded KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wells Fargo & Company decreased their target price on shares of KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $9.00 price target (down from $9.50) on shares of KKR Real Estate Finance Trust in a research report on Monday, October 20th. Keefe, Bruyette & Woods reduced their price target on KKR Real Estate Finance Trust from $8.75 to $8.25 and set a “market perform” rating on the stock in a research report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, KKR Real Estate Finance Trust presently has an average rating of “Hold” and a consensus price target of $9.81.

KKR Real Estate Finance Trust Stock Down 0.9%

NYSE KREF opened at $8.15 on Friday. The business has a fifty day moving average price of $8.34 and a two-hundred day moving average price of $8.79. The stock has a market capitalization of $533.42 million, a PE ratio of -23.27 and a beta of 0.89. KKR Real Estate Finance Trust has a fifty-two week low of $7.55 and a fifty-two week high of $11.53. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 12.3%. KKR Real Estate Finance Trust’s payout ratio is presently -285.71%.

KKR Real Estate Finance Trust 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.