KKR Real Estate Finance Trust (NYSE:KREF) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of KKR Real Estate Finance Trust (NYSE:KREF) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.62 and traded as high as $7.08. KKR Real Estate Finance Trust shares last traded at $7.0750, with a volume of 987,452 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on KREF shares. Zacks Research lowered KKR Real Estate Finance Trust from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Citigroup downgraded shares of KKR Real Estate Finance Trust from a “neutral” rating to a “market perform” rating in a research report on Monday, April 27th. Citizens Jmp lowered shares of KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Tuesday, April 21st. Finally, Wall Street Zen cut KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $8.40.

KKR Real Estate Finance Trust Stock Up 0.2%

The business has a 50-day moving average price of $6.62 and a 200-day moving average price of $7.23. The company has a market capitalization of $454.92 million, a price-to-earnings ratio of -3.80 and a beta of 0.84. The company has a quick ratio of 407.64, a current ratio of 407.64 and a debt-to-equity ratio of 3.90.

KKR Real Estate Finance Trust (NYSE:KREF) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). KKR Real Estate Finance Trust had a negative return on equity of 0.78% and a negative net margin of 23.55%.The business had revenue of $20.89 million during the quarter, compared to analysts’ expectations of $28.76 million. As a group, equities analysts anticipate that KKR Real Estate Finance Trust will post -1.63 earnings per share for the current fiscal year.

KKR Real Estate Finance Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Tuesday, June 30th. KKR Real Estate Finance Trust’s dividend payout ratio is -53.76%.

Insider Activity at KKR Real Estate Finance Trust

In other news, CEO Matthew A. Salem acquired 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average price of $6.04 per share, for a total transaction of $362,400.00. Following the completion of the acquisition, the chief executive officer owned 703,075 shares in the company, valued at $4,246,573. This trade represents a 9.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO W Patrick Mattson bought 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average price of $6.03 per share, with a total value of $241,200.00. Following the completion of the purchase, the chief operating officer directly owned 500,287 shares in the company, valued at $3,016,730.61. The trade was a 8.69% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Beach Point Capital Management LP bought a new stake in shares of KKR Real Estate Finance Trust during the 4th quarter worth approximately $1,634,000. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of KKR Real Estate Finance Trust during the 3rd quarter worth $1,419,000. Compass Rose Asset Management LP bought a new stake in shares of KKR Real Estate Finance Trust during the 4th quarter worth $2,754,000. Weiss Asset Management LP bought a new position in KKR Real Estate Finance Trust in the first quarter valued at about $285,000. Finally, Conversant Capital LLC acquired a new position in KKR Real Estate Finance Trust during the first quarter worth about $9,000,000. 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.