KKR Real Estate Finance Trust (NYSE:KREF) Stock Price Crosses Below 50-Day Moving Average – Here’s Why

Shares of KKR Real Estate Finance Trust (NYSE:KREF) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.13 and traded as low as $7.07. KKR Real Estate Finance Trust shares last traded at $7.2250, with a volume of 916,723 shares.

Analyst Upgrades and Downgrades

KREF has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research report on Friday, July 17th. Raymond James Financial raised shares of KKR Real Estate Finance Trust from an “outperform” rating to a “strong-buy” rating and set a $9.50 price target for the company in a research report on Thursday. Wall Street Zen lowered shares of KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Wells Fargo & Company cut their price target on shares of KKR Real Estate Finance Trust from $9.00 to $7.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of KKR Real Estate Finance Trust from $6.50 to $7.00 and gave the company a “market perform” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.92.

KKR Real Estate Finance Trust Price Performance

The company has a quick ratio of 407.64, a current ratio of 407.64 and a debt-to-equity ratio of 4.36. The company has a 50 day simple moving average of $7.13 and a 200-day simple moving average of $6.95. The stock has a market cap of $423.24 million, a price-to-earnings ratio of -2.20 and a beta of 0.82.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings results on Tuesday, July 21st. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.02). The firm had revenue of $29.34 million during the quarter, compared to the consensus estimate of $24.97 million. KKR Real Estate Finance Trust had a negative net margin of 47.33% and a negative return on equity of 1.53%. As a group, research analysts anticipate that KKR Real Estate Finance Trust will post 0.28 EPS for the current fiscal year.

Institutional Trading of KKR Real Estate Finance Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC acquired a new position in shares of KKR Real Estate Finance Trust in the 1st quarter valued at about $193,000. Parallel Advisors LLC lifted its holdings in KKR Real Estate Finance Trust by 92.0% in the first quarter. Parallel Advisors LLC now owns 13,838 shares of the company’s stock worth $85,000 after acquiring an additional 6,630 shares during the last quarter. Optiver Holding B.V. acquired a new position in KKR Real Estate Finance Trust in the first quarter valued at approximately $148,000. Quantinno Capital Management LP grew its holdings in shares of KKR Real Estate Finance Trust by 88.0% during the first quarter. Quantinno Capital Management LP now owns 120,218 shares of the company’s stock valued at $736,000 after purchasing an additional 56,272 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of KKR Real Estate Finance Trust during the first quarter valued at approximately $285,000. 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.