Keefe, Bruyette & Woods Issues Pessimistic Forecast for KKR Real Estate Finance Trust (NYSE:KREF) Stock Price

KKR Real Estate Finance Trust (NYSE:KREF) had its price objective decreased by investment analysts at Keefe, Bruyette & Woods from $8.75 to $8.25 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 6.93% from the company’s current price.

Several other equities analysts have also recently commented on KREF. Weiss Ratings reiterated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their target price on shares of 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. 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 note on Monday, October 20th. Finally, 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. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.81.

KKR Real Estate Finance Trust Stock Up 1.5%

KREF traded up $0.12 during trading hours on Thursday, reaching $7.72. 113,650 shares of the stock traded hands, compared to its average volume of 887,887. 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 market cap of $505.26 million, a price-to-earnings ratio of -22.07 and a beta of 0.89. 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’s fifty day simple moving average is $8.35 and its two-hundred day simple moving average is $8.86.

KKR Real Estate Finance Trust (NYSE:KREF) last posted its quarterly earnings data on Tuesday, October 21st. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). KKR Real Estate Finance Trust had a negative net margin of 0.12% and a negative return on equity of 0.60%. The firm had revenue of $31.41 million during the quarter, compared to analysts’ expectations of $29.90 million. As a group, analysts forecast that KKR Real Estate Finance Trust will post 1.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO W Patrick Mattson acquired 13,000 shares of KKR Real Estate Finance Trust stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average price of $7.91 per share, with a total value of $102,830.00. Following the completion of the acquisition, the chief operating officer directly owned 386,787 shares of the company’s stock, valued at $3,059,485.17. This trade represents a 3.48% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew A. Salem purchased 32,000 shares of KKR Real Estate Finance Trust stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of $7.84 per share, with a total value of $250,880.00. Following the completion of the purchase, the chief executive officer owned 561,825 shares in the company, valued at approximately $4,404,708. This trade represents a 6.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 55,000 shares of company stock worth $431,710 over the last 90 days. Insiders own 1.90% of the company’s stock.

Institutional Trading of KKR Real Estate Finance Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC grew its position in KKR Real Estate Finance Trust by 61.4% in the first quarter. Cubist Systematic Strategies LLC now owns 46,835 shares of the company’s stock worth $506,000 after buying an additional 17,817 shares during the last quarter. 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 in the last quarter. Caxton Associates LLP acquired a new position in shares of KKR Real Estate Finance Trust in the 1st quarter worth $288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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, Jane Street Group LLC lifted its holdings in shares of KKR Real Estate Finance Trust by 72.1% during 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. 70.23% of the stock is owned by institutional investors and hedge funds.

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.