KKR Real Estate Finance Trust (NYSE:KREF) Price Target Cut to $13.00 by Analysts at JMP Securities

KKR Real Estate Finance Trust (NYSE:KREFFree Report) had its target price decreased by JMP Securities from $14.50 to $13.00 in a research note published on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. Raymond James reduced their price objective on KKR Real Estate Finance Trust from $15.00 to $14.50 and set an outperform rating on the stock in a research note on Wednesday, October 25th. Citigroup cut their target price on KKR Real Estate Finance Trust from $12.00 to $11.00 and set a neutral rating on the stock in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KKR Real Estate Finance Trust currently has an average rating of Moderate Buy and an average price target of $12.57.

Check Out Our Latest Research Report on KREF

KKR Real Estate Finance Trust Stock Performance

Shares of KREF opened at $9.52 on Wednesday. The business’s fifty day moving average price is $12.76 and its 200 day moving average price is $12.16. KKR Real Estate Finance Trust has a 12-month low of $9.36 and a 12-month high of $15.36. The stock has a market capitalization of $659.83 million, a PE ratio of -12.21 and a beta of 1.01. The company has a debt-to-equity ratio of 4.32, a current ratio of 361.76 and a quick ratio of 384.64.

KKR Real Estate Finance Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.50%. The ex-dividend date of this dividend is Wednesday, March 27th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is -220.51%.

Insider Buying and Selling

In related news, CEO Matthew A. Salem acquired 26,000 shares of KKR Real Estate Finance Trust stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average price of $9.72 per share, with a total value of $252,720.00. Following the completion of the acquisition, the chief executive officer now directly owns 460,309 shares of the company’s stock, valued at approximately $4,474,203.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO W Patrick Mattson acquired 10,000 shares of KKR Real Estate Finance Trust stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average price of $9.72 per share, with a total value of $97,200.00. Following the completion of the acquisition, the chief operating officer now directly owns 308,446 shares of the company’s stock, valued at approximately $2,998,095.12. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew A. Salem purchased 26,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of $9.72 per share, for a total transaction of $252,720.00. Following the completion of the transaction, the chief executive officer now owns 460,309 shares of the company’s stock, valued at approximately $4,474,203.48. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors bought a new stake in KKR Real Estate Finance Trust in the second quarter worth about $56,000. Quarry LP raised its position in KKR Real Estate Finance Trust by 542.7% in the first quarter. Quarry LP now owns 3,850 shares of the company’s stock worth $44,000 after acquiring an additional 3,251 shares in the last quarter. Tower Research Capital LLC TRC raised its position in KKR Real Estate Finance Trust by 188.5% in the third quarter. Tower Research Capital LLC TRC now owns 4,102 shares of the company’s stock worth $67,000 after acquiring an additional 2,680 shares in the last quarter. Horan Securities Inc. bought a new stake in KKR Real Estate Finance Trust in the second quarter worth about $75,000. Finally, PNC Financial Services Group Inc. raised its position in KKR Real Estate Finance Trust by 629.1% in the second quarter. PNC Financial Services Group Inc. now owns 7,765 shares of the company’s stock worth $94,000 after acquiring an additional 6,700 shares in the last quarter. 73.01% of the stock is currently owned by institutional investors.

About KKR Real Estate Finance Trust

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KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on originating and acquiring 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, and commercial mortgage-backed securities.

Further Reading

Analyst Recommendations for KKR Real Estate Finance Trust (NYSE:KREF)

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