KKR Real Estate Finance Trust (NYSE:KREF) Releases Earnings Results, Beats Expectations By $0.08 EPS

KKR Real Estate Finance Trust (NYSE:KREF) released its earnings results on Tuesday. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08, FiscalAI reports. KKR Real Estate Finance Trust had a negative net margin of 0.12% and a negative return on equity of 0.60%. The firm had revenue of $32.72 million for the quarter, compared to the consensus estimate of $26.06 million.

KKR Real Estate Finance Trust Price Performance

NYSE:KREF traded down $0.11 during trading hours on Tuesday, hitting $8.21. 793,995 shares of the stock traded hands, compared to its average volume of 834,412. The company has a market cap of $537.35 million, a price-to-earnings ratio of -23.44 and a beta of 0.88. KKR Real Estate Finance Trust has a 1 year low of $7.55 and a 1 year high of $11.53. The stock has a 50 day moving average price of $8.35 and a 200 day moving average price of $8.75. The company has a quick ratio of 423.43, a current ratio of 423.43 and a debt-to-equity ratio of 3.63.

KKR Real Estate Finance Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 12.2%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -285.71%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KREF. Keefe, Bruyette & Woods decreased their target price on shares of KKR Real Estate Finance Trust from $8.75 to $8.25 and set a “market perform” rating for the company in a research note on Thursday, January 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Thursday, January 22nd. BTIG Research reissued a “buy” rating and set a $13.00 price objective on shares of KKR Real Estate Finance Trust in a research report on Monday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $9.00 target price (down from $9.50) on shares of KKR Real Estate Finance Trust in a report on Monday, October 20th. Finally, Wells Fargo & Company lowered their price objective on KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.45.

Insiders Place Their Bets

In related news, COO W Patrick Mattson bought 13,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average price of $7.91 per share, for a total transaction of $102,830.00. Following the completion of the transaction, the chief operating officer owned 386,787 shares in the company, valued at $3,059,485.17. The trade was a 3.48% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christen E.J. Lee acquired 10,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $7.80 per share, with a total value of $78,000.00. Following the acquisition, the director directly owned 229,133 shares in the company, valued at approximately $1,787,237.40. The trade was a 4.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 55,000 shares of company stock valued at $431,710 over the last three months. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

Several institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in shares of KKR Real Estate Finance Trust by 25.9% during the 1st quarter. Millennium Management LLC now owns 353,216 shares of the company’s stock valued at $3,815,000 after acquiring an additional 72,566 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of KKR Real Estate Finance Trust during the 1st quarter valued at about $288,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of KKR Real Estate Finance Trust by 317.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,589 shares of the company’s stock valued at $2,210,000 after buying an additional 155,553 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of KKR Real Estate Finance Trust by 72.1% in the 1st quarter. Jane Street Group LLC now owns 172,162 shares of the company’s stock valued at $1,859,000 after acquiring an additional 72,140 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in KKR Real Estate Finance Trust in the first quarter worth about $66,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.