KKR Real Estate Finance Trust (NYSE:KREF) Shares Up 8.6% After Earnings Beat

Shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF) traded up 8.6% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $10.80 and last traded at $10.91. 365,174 shares were traded 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 earnings per share (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 firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.16%. The ex-dividend date of this dividend was Tuesday, December 31st. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is -333.32%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On KKR Real Estate Finance Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new stake in KKR Real Estate Finance Trust during the third quarter valued at approximately $25,000. Abel Hall LLC bought a new position in KKR Real Estate Finance Trust in the 3rd quarter worth approximately $138,000. First Trust Direct Indexing L.P. raised its position in shares of KKR Real Estate Finance Trust by 24.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 12,885 shares of the company’s stock valued at $159,000 after acquiring an additional 2,546 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of KKR Real Estate Finance Trust during the 4th quarter valued at $159,000. Finally, Intech Investment Management LLC acquired a new position in shares of KKR Real Estate Finance Trust in the 3rd quarter valued at $197,000. 70.23% of the stock is owned by institutional investors and hedge funds.

KKR Real Estate Finance Trust Stock Up 8.6 %

The company has a market cap of $759.29 million, a price-to-earnings ratio of -36.42 and a beta of 1.00. 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 firm’s fifty day moving average price is $10.64 and its 200-day moving average price is $11.31.

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.