KKR Real Estate Finance Trust (NYSE:KREF) Posts Quarterly Earnings Results, Meets Expectations

KKR Real Estate Finance Trust (NYSE:KREF) posted its earnings results on Tuesday. The company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58), FiscalAI reports. KKR Real Estate Finance Trust had a negative net margin of 23.55% and a negative return on equity of 0.78%. The business had revenue of $29.34 million for the quarter, compared to analysts’ expectations of $24.97 million.

KKR Real Estate Finance Trust Stock Up 4.8%

NYSE:KREF opened at $7.61 on Wednesday. The stock’s fifty day moving average price is $6.96 and its two-hundred day moving average price is $7.01. KKR Real Estate Finance Trust has a 52-week low of $5.25 and a 52-week high of $9.98. The company has a debt-to-equity ratio of 3.90, a quick ratio of 407.64 and a current ratio of 407.64. The company has a market cap of $489.00 million, a price-to-earnings ratio of -4.09 and a beta of 0.82.

Wall Street Analyst Weigh In

KREF has been the subject of a number of analyst reports. Zacks Research upgraded shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Weiss Ratings reissued a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a report on Friday. Citigroup downgraded 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 KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, April 27th. Finally, Wall Street Zen cut KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $8.30.

Insider Buying and Selling at KKR Real Estate Finance Trust

In other news, CEO Matthew A. Salem purchased 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were acquired 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 directly owned 703,075 shares in the company, valued at approximately $4,246,573. The trade was a 9.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO W Patrick Mattson acquired 40,000 shares of the 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 transaction, the chief operating officer owned 500,287 shares of the company’s stock, valued at approximately $3,016,730.61. This trade represents a 8.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in shares of KKR Real Estate Finance Trust by 178.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,537 shares of the company’s stock worth $29,000 after buying an additional 2,266 shares during the period. Geneos Wealth Management Inc. boosted its stake in KKR Real Estate Finance Trust by 100.0% in the second quarter. Geneos Wealth Management Inc. now owns 3,450 shares of the company’s stock valued at $30,000 after acquiring an additional 1,725 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 worth $36,000 after acquiring an additional 3,658 shares during the period. Tower Research Capital LLC TRC grew its holdings in 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 acquiring an additional 2,238 shares during the period. Finally, Russell Investments Group Ltd. raised 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 valued at $62,000 after acquiring an additional 5,995 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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.