BTIG Research Reaffirms Buy Rating for KKR Real Estate Finance Trust (NYSE:KREF)

KKR Real Estate Finance Trust (NYSE:KREF)‘s stock had its “buy” rating reissued by BTIG Research in a research report issued on Monday,Benzinga reports. They currently have a $13.00 target price on the stock. BTIG Research’s target price indicates a potential upside of 58.44% from the company’s current price.

KREF has been the topic of a number of other research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $9.00 price target (down previously from $9.50) on shares of KKR Real Estate Finance Trust in a research report on Monday, October 20th. Wells Fargo & Company decreased their target price on 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. Keefe, Bruyette & Woods dropped their price target on shares of KKR Real Estate Finance Trust from $8.75 to $8.25 and set a “market perform” rating on the stock in a research note on Thursday, January 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.45.

KKR Real Estate Finance Trust Stock Performance

Shares of NYSE KREF opened at $8.21 on Monday. The company has a market capitalization of $537.35 million, a PE ratio of -23.44 and a beta of 0.88. The company has a debt-to-equity ratio of 3.63, a quick ratio of 423.43 and a current ratio of 423.43. The company’s fifty day moving average price is $8.35 and its 200 day moving average price is $8.74. KKR Real Estate Finance Trust has a 1 year low of $7.55 and a 1 year high of $11.53.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. KKR Real Estate Finance Trust had a negative net margin of 0.12% and a negative return on equity of 0.60%. The business had revenue of $32.72 million during the quarter, compared to the consensus estimate of $26.06 million. On average, research analysts predict that KKR Real Estate Finance Trust will post 1.05 earnings per share for the current year.

Insider Buying and Selling at KKR Real Estate Finance Trust

In other KKR Real Estate Finance Trust news, COO W Patrick Mattson bought 13,000 shares of KKR Real Estate Finance Trust stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of $7.91 per share, for a total transaction of $102,830.00. Following the completion of the transaction, the chief operating officer directly owned 386,787 shares of the company’s stock, valued at approximately $3,059,485.17. This represents a 3.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ralph F. Rosenberg sold 125,289 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $8.25, for a total transaction of $1,033,634.25. The SEC filing for this sale provides additional information. Insiders acquired 55,000 shares of company stock worth $431,710 over the last three months. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

Large investors have recently made changes to their positions in the stock. Drive Wealth Management LLC grew its stake in shares of KKR Real Estate Finance Trust by 12.9% in the 2nd quarter. Drive Wealth Management LLC now owns 119,601 shares of the company’s stock valued at $1,079,000 after buying an additional 13,658 shares during the period. Prudential Financial Inc. raised its position in shares of 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 valued at $1,792,000 after buying an additional 147,895 shares during the period. Condor Capital Management lifted its holdings in KKR Real Estate Finance Trust by 27.6% in the second quarter. Condor Capital Management now owns 344,625 shares of the company’s stock valued at $3,022,000 after acquiring an additional 74,532 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in KKR Real Estate Finance Trust in the second quarter worth approximately $570,000. Finally, State of Alaska Department of Revenue grew its position in KKR Real Estate Finance Trust by 6.0% in the second quarter. State of Alaska Department of Revenue now owns 33,895 shares of the company’s stock worth $296,000 after acquiring an additional 1,913 shares during the period. 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.