KKR Real Estate Finance Trust (NYSE:KREF) Given New $13.50 Price Target at Raymond James

KKR Real Estate Finance Trust (NYSE:KREF) had its target price reduced by Raymond James from $14.00 to $13.50 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their target price on KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. BTIG Research reaffirmed a “buy” rating and set a $11.50 price objective on shares of KKR Real Estate Finance Trust in a report on Friday, July 19th. Keefe, Bruyette & Woods upgraded shares of KKR Real Estate Finance Trust from a “market perform” rating to an “outperform” rating and increased their target price for the company from $11.50 to $13.00 in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of KKR Real Estate Finance Trust from $11.50 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, KKR Real Estate Finance Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.43.

KKR Real Estate Finance Trust Stock Performance

Shares of KKR Real Estate Finance Trust stock opened at $11.80 on Wednesday. The company has a debt-to-equity ratio of 3.86, a current ratio of 392.62 and a quick ratio of 392.62. KKR Real Estate Finance Trust has a one year low of $8.71 and a one year high of $14.12. The business has a 50-day simple moving average of $11.95 and a 200 day simple moving average of $10.56. The firm has a market capitalization of $817.91 million, a price-to-earnings ratio of -25.65 and a beta of 0.99.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. KKR Real Estate Finance Trust had a net margin of 5.88% and a return on equity of 9.88%. The firm had revenue of $140.15 million during the quarter, compared to analysts’ expectations of $39.52 million. During the same period last year, the company earned $0.47 earnings per share. On average, research analysts anticipate that KKR Real Estate Finance Trust will post 1.35 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.47%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -217.39%.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of KKR Real Estate Finance Trust by 9.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,148,784 shares of the company’s stock worth $21,617,000 after acquiring an additional 178,603 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in KKR Real Estate Finance Trust in the first quarter worth $40,000. Price T Rowe Associates Inc. MD lifted its stake in KKR Real Estate Finance Trust by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,846 shares of the company’s stock worth $170,000 after purchasing an additional 2,481 shares during the last quarter. Van ECK Associates Corp boosted its position in KKR Real Estate Finance Trust by 15.4% during the first quarter. Van ECK Associates Corp now owns 272,002 shares of the company’s stock valued at $2,736,000 after buying an additional 36,299 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of KKR Real Estate Finance Trust by 14.1% during the first quarter. Principal Financial Group Inc. now owns 346,350 shares of the company’s stock valued at $3,484,000 after buying an additional 42,730 shares during the last quarter. 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, 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.