KKR Real Estate Finance Trust (NYSE:KREF) Shares Up 8.6% After Better-Than-Expected Earnings

KKR Real Estate Finance Trust Inc. (NYSE:KREFGet Free Report) shot up 8.6% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $10.80 and last traded at $10.91. 365,174 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 434,184 shares. The stock had previously closed at $10.05.

The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.20. KKR Real Estate Finance Trust had a return on equity of 9.46% and a net margin of 0.40%.

KKR Real Estate Finance Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.16%. KKR Real Estate Finance Trust’s dividend payout ratio is presently -333.32%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KREF. JMP Securities raised their price target on KKR Real Estate Finance Trust from $12.50 to $13.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lowered their price target on KKR Real Estate Finance Trust from $13.00 to $12.25 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Raymond James lowered their price target on KKR Real Estate Finance Trust from $14.00 to $13.50 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price target on KKR Real Estate Finance Trust from $11.50 to $10.50 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, KKR Real Estate Finance Trust presently has a consensus rating of “Buy” and a consensus price target of $12.46.

View Our Latest Stock Report on KKR Real Estate Finance Trust

Institutional Investors Weigh In On KKR Real Estate Finance Trust

A number of institutional investors and hedge funds have recently modified their holdings of KREF. The Manufacturers Life Insurance Company increased its position in shares of KKR Real Estate Finance Trust by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 38,542 shares of the company’s stock valued at $349,000 after buying an additional 935 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of KKR Real Estate Finance Trust by 128.3% in the 3rd quarter. SG Americas Securities LLC now owns 34,821 shares of the company’s stock valued at $430,000 after purchasing an additional 19,570 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in KKR Real Estate Finance Trust during the 3rd quarter worth about $25,000. Creative Planning lifted its stake in KKR Real Estate Finance Trust by 37.0% during the 3rd quarter. Creative Planning now owns 21,524 shares of the company’s stock worth $266,000 after acquiring an additional 5,809 shares in the last quarter. Finally, OmniStar Financial Group Inc. acquired a new position in KKR Real Estate Finance Trust during the 3rd quarter worth about $492,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Trading Up 8.6 %

The company has a fifty day simple moving average of $10.64 and a two-hundred day simple moving average of $11.31. The company has a current ratio of 277.63, a quick ratio of 277.63 and a debt-to-equity ratio of 3.75. The company has a market cap of $759.29 million, a PE ratio of -36.42 and a beta of 1.00.

About KKR Real Estate Finance Trust

(Get Free Report)

KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on originating and acquiring transitional senior loans secured by commercial real estate (CRE) assets. It engages in the origination and purchase of credit investments related to CRE, including leveraged and unleveraged commercial real estate loans.

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