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

KKR Real Estate Finance Trust (NYSE:KREF) posted its earnings results on Tuesday. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.02), FiscalAI reports. The business had revenue of $29.34 million during the quarter, compared to analyst estimates of $24.97 million. KKR Real Estate Finance Trust had a negative net margin of 47.33% and a negative return on equity of 1.46%.

KKR Real Estate Finance Trust Stock Performance

Shares of KREF stock opened at $7.60 on Thursday. The stock has a market cap of $488.62 million, a P/E ratio of -2.27 and a beta of 0.82. The company has a debt-to-equity ratio of 3.90, a current ratio of 407.64 and a quick ratio of 407.64. The company has a fifty day moving average price of $6.98 and a two-hundred day moving average price of $7.01. KKR Real Estate Finance Trust has a one year low of $5.25 and a one year high of $9.98.

Insider Activity

In other news, CEO Matthew A. Salem acquired 60,000 shares of the stock in a transaction dated Friday, April 24th. The shares were bought at an average cost of $6.04 per share, for a total transaction of $362,400.00. Following the purchase, the chief executive officer directly owned 703,075 shares of the company’s stock, valued at approximately $4,246,573. This trade represents a 9.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO W Patrick Mattson bought 40,000 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was purchased at an average cost of $6.03 per share, for a total transaction of $241,200.00. Following the completion of the acquisition, the chief operating officer owned 500,287 shares in the company, valued at $3,016,730.61. This trade represents a 8.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.12% of the stock is owned by insiders.

Institutional Trading of KKR Real Estate Finance Trust

Hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new stake in KKR Real Estate Finance Trust during the 4th quarter valued at $111,000. Kestra Advisory Services LLC acquired a new position in shares of KKR Real Estate Finance Trust in the fourth quarter valued at $72,000. Fox Run Management L.L.C. raised its position in shares of KKR Real Estate Finance Trust by 33.7% in the fourth quarter. Fox Run Management L.L.C. now owns 17,220 shares of the company’s stock valued at $142,000 after purchasing an additional 4,345 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of KKR Real Estate Finance Trust in the third quarter valued at about $152,000. Finally, Franklin Resources Inc. acquired a new stake in shares of KKR Real Estate Finance Trust during the 3rd quarter worth about $134,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research note on Friday, July 17th. Zacks Research upgraded shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Wells Fargo & Company lowered 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 research note on Tuesday, April 28th. Citizens Jmp downgraded shares of 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 downgraded shares of KKR Real Estate Finance Trust from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $8.50.

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.