KKR Real Estate Finance Trust (NYSE:KREF) Announces Quarterly Earnings Results, Misses Estimates By $0.17 EPS

KKR Real Estate Finance Trust (NYSE:KREF) released its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.17), FiscalAI reports. The company had revenue of $20.89 million during the quarter, compared to analyst estimates of $28.76 million. KKR Real Estate Finance Trust had a negative net margin of 23.55% and a negative return on equity of 0.76%.

KKR Real Estate Finance Trust Price Performance

Shares of KKR Real Estate Finance Trust stock traded down $0.11 during midday trading on Friday, hitting $5.99. 182,672 shares of the company traded hands, compared to its average volume of 1,358,389. The stock has a market cap of $384.72 million, a price-to-earnings ratio of -3.23 and a beta of 0.91. The company has a debt-to-equity ratio of 3.83, a quick ratio of 407.64 and a current ratio of 407.64. The firm’s fifty day moving average price is $6.64 and its 200-day moving average price is $7.71. KKR Real Estate Finance Trust has a 12 month low of $5.25 and a 12 month high of $9.98.

KKR Real Estate Finance Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 6.7%. KKR Real Estate Finance Trust’s payout ratio is -95.24%.

Analyst Ratings Changes

KREF has been the subject of several research analyst reports. Zacks Research upgraded shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Wells Fargo & Company lowered their target price on shares of KKR Real Estate Finance Trust from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Wall Street Zen downgraded shares of KKR Real Estate Finance Trust from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Citizens Jmp decreased their price objective on shares of KKR Real Estate Finance Trust from $10.00 to $9.50 and set a “market outperform” rating on the stock in a report on Monday, March 23rd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of KKR Real Estate Finance Trust from $8.00 to $7.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

Several hedge funds and other institutional investors have recently made changes to their positions in KREF. PNC Financial Services Group Inc. raised its holdings in KKR Real Estate Finance Trust by 178.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company’s stock valued at $29,000 after buying an additional 2,266 shares during the last quarter. Geneos Wealth Management Inc. increased its position in KKR Real Estate Finance Trust by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company’s stock valued at $30,000 after purchasing an additional 1,725 shares during the period. EverSource Wealth Advisors LLC increased its position in KKR Real Estate Finance Trust by 742.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company’s stock valued at $36,000 after purchasing an additional 3,658 shares during the period. Tower Research Capital LLC TRC grew its position in shares of KKR Real Estate Finance Trust by 64.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,732 shares of the company’s stock worth $50,000 after buying an additional 2,238 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of KKR Real Estate Finance Trust by 700.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,851 shares of the company’s stock worth $62,000 after buying an additional 5,995 shares during the period. 70.23% of the stock is owned by institutional investors.

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.