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

KKR Real Estate Finance Trust (NYSE:KREF) issued its quarterly earnings results on Tuesday. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02, Briefing.com reports. KKR Real Estate Finance Trust had a negative net margin of 1.39% and a positive return on equity of 10.28%. The company had revenue of $151.62 million during the quarter, compared to analyst estimates of $43.16 million. During the same quarter last year, the business posted $0.48 EPS.

KKR Real Estate Finance Trust Stock Down 2.4 %

KKR Real Estate Finance Trust stock opened at $9.78 on Thursday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 361.75 and a current ratio of 361.76. The business has a 50-day simple moving average of $9.79 and a 200 day simple moving average of $11.30. KKR Real Estate Finance Trust has a 52 week low of $9.09 and a 52 week high of $14.12.

KKR Real Estate Finance Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.23%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -217.39%.

Analyst Ratings Changes

KREF has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of KKR Real Estate Finance Trust from $12.00 to $10.50 and set an “overweight” rating for the company in a research note on Thursday, February 8th. JPMorgan Chase & Co. lowered their target price on shares of KKR Real Estate Finance Trust from $11.50 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Finally, JMP Securities decreased their price objective on KKR Real Estate Finance Trust from $14.50 to $13.00 and set a “market outperform” rating on the stock in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, KKR Real Estate Finance Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.33.

Insider Activity

In related news, CEO Matthew A. Salem bought 26,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average cost of $9.72 per share, for a total transaction of $252,720.00. Following the completion of the transaction, the chief executive officer now directly owns 460,309 shares in the company, valued at approximately $4,474,203.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Matthew A. Salem bought 26,000 shares of KKR Real Estate Finance Trust stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $9.72 per share, with a total value of $252,720.00. Following the completion of the purchase, the chief executive officer now directly owns 460,309 shares in the company, valued at $4,474,203.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO W Patrick Mattson purchased 10,000 shares of the stock in a transaction on Thursday, February 8th. The shares were purchased at an average price of $9.72 per share, for a total transaction of $97,200.00. Following the transaction, 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 1.20% of the company’s stock.

About KKR Real Estate Finance Trust

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.