Keefe, Bruyette & Woods Lowers KKR Real Estate Finance Trust (NYSE:KREF) Price Target to $8.25

KKR Real Estate Finance Trust (NYSE:KREF) had its price target lowered by analysts at Keefe, Bruyette & Woods from $8.75 to $8.25 in a report issued on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 6.93% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Weiss Ratings reissued a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Wednesday, October 8th. Zacks Research upgraded shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $9.00 price objective (down from $9.50) on shares of KKR Real Estate Finance Trust in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.81.

KKR Real Estate Finance Trust Trading Up 1.5%

NYSE KREF traded up $0.12 on Thursday, hitting $7.72. 113,650 shares of the stock were exchanged, compared to its average volume of 887,887. The company’s 50-day moving average price is $8.35 and its two-hundred day moving average price is $8.86. The company has a debt-to-equity ratio of 3.63, a current ratio of 423.43 and a quick ratio of 423.43. KKR Real Estate Finance Trust has a 52-week low of $7.55 and a 52-week high of $11.53. The company has a market capitalization of $505.26 million, a price-to-earnings ratio of -22.07 and a beta of 0.89.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its earnings results on Tuesday, October 21st. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). The business had revenue of $31.41 million during the quarter, compared to analyst estimates of $29.90 million. KKR Real Estate Finance Trust had a negative return on equity of 0.60% and a negative net margin of 0.12%. Research analysts predict that KKR Real Estate Finance Trust will post 1.05 EPS for the current year.

Insider Buying and Selling

In related news, COO W Patrick Mattson purchased 13,000 shares of the stock in a transaction on Thursday, November 6th. The shares were bought at an average price of $7.91 per share, for a total transaction of $102,830.00. Following the completion of the acquisition, the chief operating officer directly owned 386,787 shares in the company, valued at approximately $3,059,485.17. This trade represents a 3.48% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christen E.J. Lee acquired 10,000 shares of KKR Real Estate Finance Trust stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $7.80 per share, with a total value of $78,000.00. Following the completion of the purchase, the director directly owned 229,133 shares of the company’s stock, valued at $1,787,237.40. The trade was a 4.56% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 55,000 shares of company stock worth $431,710 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its position in shares of 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 worth $30,000 after purchasing an additional 1,725 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in KKR Real Estate Finance Trust by 742.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,151 shares of the company’s stock worth $36,000 after buying an additional 3,658 shares during the period. Allworth Financial LP grew its stake in shares of KKR Real Estate Finance Trust by 3,904.6% in the second quarter. Allworth Financial LP now owns 4,365 shares of the company’s stock worth $38,000 after acquiring an additional 4,256 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in shares of KKR Real Estate Finance Trust in the third quarter worth $48,000. Finally, Tower Research Capital LLC TRC increased its position in KKR Real Estate Finance Trust by 64.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,732 shares of the company’s stock worth $50,000 after acquiring an additional 2,238 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

About KKR Real Estate Finance Trust

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.