KKR Real Estate Finance Trust (NYSE:KREF) Issues Quarterly Earnings Results

KKR Real Estate Finance Trust (NYSE:KREF) announced its quarterly earnings results on Tuesday. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02, Briefing.com reports. KKR Real Estate Finance Trust had a positive return on equity of 10.59% and a negative net margin of 4.82%. The company had revenue of $151.62 million for the quarter, compared to the consensus estimate of $43.16 million. During the same quarter last year, the company posted $0.48 earnings per share.

KKR Real Estate Finance Trust Stock Performance

KREF traded down $0.25 during trading on Wednesday, reaching $9.77. 445,988 shares of the company’s stock were exchanged, compared to its average volume of 588,166. KKR Real Estate Finance Trust has a fifty-two week low of $9.09 and a fifty-two week high of $14.12. The company has a quick ratio of 361.75, a current ratio of 361.76 and a debt-to-equity ratio of 4.32. The business has a 50 day moving average price of $9.77 and a 200 day moving average price of $11.31. The company has a market capitalization of $677.16 million, a P/E ratio of -12.53 and a beta of 0.96.

KKR Real Estate Finance Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 10.24%. KKR Real Estate Finance Trust’s dividend payout ratio is currently -128.21%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JMP Securities lowered their price target on KKR Real Estate Finance Trust from $14.50 to $13.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 7th. JPMorgan Chase & Co. lowered their price objective on shares of KKR Real Estate Finance Trust from $11.50 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company lowered their price objective on shares of KKR Real Estate Finance Trust from $12.00 to $10.50 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, KKR Real Estate Finance Trust presently has an average rating of “Moderate Buy” and an average price target of $12.33.

Insiders Place Their Bets

In related news, COO W Patrick Mattson acquired 10,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of $9.72 per share, with a total value of $97,200.00. Following the completion of the acquisition, the chief operating officer now owns 308,446 shares in the company, valued at $2,998,095.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other KKR Real Estate Finance Trust news, CEO Matthew A. Salem purchased 26,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average cost of $9.72 per share, with a total value of $252,720.00. Following the completion of the acquisition, the chief executive officer now directly owns 460,309 shares of the company’s stock, valued at approximately $4,474,203.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO W Patrick Mattson purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average cost of $9.72 per share, with a total value of $97,200.00. Following the completion of the acquisition, the chief operating officer now directly owns 308,446 shares of the company’s stock, valued at $2,998,095.12. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

KKR Real Estate Finance Trust Company Profile

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.