Beach Point Capital Management LP Invests $1.63 Million in KKR Real Estate Finance Trust $KREF

Beach Point Capital Management LP bought a new position in shares of KKR Real Estate Finance Trust (NYSE:KREF) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 198,743 shares of the company’s stock, valued at approximately $1,634,000. KKR Real Estate Finance Trust accounts for approximately 0.6% of Beach Point Capital Management LP’s portfolio, making the stock its 5th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in KREF. Millennium Management LLC boosted its stake in shares of KKR Real Estate Finance Trust by 25.9% during the 1st quarter. Millennium Management LLC now owns 353,216 shares of the company’s stock worth $3,815,000 after acquiring an additional 72,566 shares during the period. Caxton Associates LLP bought a new stake in shares of KKR Real Estate Finance Trust during the first quarter worth approximately $288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 acquiring an additional 155,553 shares during the period. Jane Street Group LLC grew its position in shares of KKR Real Estate Finance Trust by 72.1% in the first quarter. Jane Street Group LLC now owns 172,162 shares of the company’s stock valued at $1,859,000 after purchasing an additional 72,140 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of KKR Real Estate Finance Trust in the first quarter valued at approximately $66,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KREF. Keefe, Bruyette & Woods reduced their price target on KKR Real Estate Finance Trust from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Citigroup cut KKR Real Estate Finance Trust from a “neutral” rating to a “market perform” rating in a research report on Monday, April 27th. Wells Fargo & Company lowered their price objective on KKR Real Estate Finance Trust from $9.00 to $7.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. BTIG Research cut KKR Real Estate Finance Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, February 5th. Finally, Wall Street Zen cut KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $8.40.

KKR Real Estate Finance Trust Stock Down 0.2%

KREF stock opened at $6.68 on Friday. The company has a debt-to-equity ratio of 3.90, a current ratio of 407.64 and a quick ratio of 407.64. The stock has a market capitalization of $429.20 million, a price-to-earnings ratio of -3.59 and a beta of 0.81. The business’s fifty day moving average price is $6.40 and its two-hundred day moving average price is $7.36. KKR Real Estate Finance Trust has a fifty-two week low of $5.25 and a fifty-two week high of $9.98.

KKR Real Estate Finance Trust (NYSE:KREF) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.17). The firm had revenue of $20.89 million for the quarter, compared to the consensus estimate of $28.76 million. KKR Real Estate Finance Trust had a negative return on equity of 0.78% and a negative net margin of 23.55%. On average, equities analysts anticipate that KKR Real Estate Finance Trust will post -1.63 earnings per share for the current year.

KKR Real Estate Finance Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, June 30th. KKR Real Estate Finance Trust’s dividend payout ratio is presently -53.76%.

Insiders Place Their Bets

In related news, CEO Matthew A. Salem bought 60,000 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was purchased at an average cost of $6.04 per share, for a total transaction of $362,400.00. Following 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO W Patrick Mattson bought 40,000 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were bought at an average price of $6.03 per share, with a total value of $241,200.00. Following the completion of the transaction, the chief operating officer owned 500,287 shares in the company, valued at approximately $3,016,730.61. This trade represents a 8.69% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.12% of the company’s stock.

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.