KKR Real Estate Finance Trust (NYSE:KREF) Share price down 4.1% following analyst downgrade

KKR Real Estate Financing Trust Inc. (NYSE: KREFGet a rating) The stock price fell 4.1% on Tuesday after JMP Securities lowered its price target on the stock from $22.00 to $19.00. JMP Securities currently has an outperforming market rating for the stock. KKR Real Estate Finance Trust traded as low as $16.01 and last traded at $16.21. Around 6,338 shares changed hands during the midday session, a 99% drop from the average daily volume of 716,783 shares. The stock previously closed at $16.91.

Several other analysts have also recently weighed in on the stock. Raymond James cut his price target on KKR Real Estate Finance Trust shares from $23.50 to $20.00 and set an “outperform” rating on the stock in a Tuesday, October 18 report. Wells Fargo & Company cut its price target on KKR Real Estate Finance Trust stock to $22.00 and set an “outperform” rating on the stock in a Wednesday, July 27, report. Finally, JPMorgan Chase & Co. cut its price target on KKR Real Estate Finance Trust shares from $21.00 to $20.00 in a report on Monday.

Hedge funds weigh on KKR Real Estate Finance Trust

A number of hedge funds have recently changed their holdings in the company. The Alaska State Department of Revenue increased its position in KKR Real Estate Finance Trust shares by 7.4% during the third quarter. The Alaska State Department of Revenue now owns 40,275 shares of the company worth $654,000 after acquiring 2,761 additional shares in the last quarter. The Louisiana State Employees Retirement System purchased a new stock position in KKR Real Estate Finance Trust during the third quarter worth approximately $452,000. GFS Advisors LLC increased its position in KKR Real Estate Finance Trust shares by 4.5% during the third quarter. GFS Advisors LLC now owns 217,825 shares of the company worth $3,540,000 after acquiring 9,400 additional shares in the last quarter. Captrust Financial Advisors bought a new stock position in KKR Real Estate Finance Trust during the second quarter worth approximately $56,000. Finally, Legal & General Group Plc increased its position in KKR Real Estate Finance Trust shares by 14.4% during the second quarter. Legal & General Group Plc now owns 115,218 shares in the company worth $2,011,000 after acquiring an additional 14,518 shares in the last quarter. 74.91% of the shares are currently held by hedge funds and other institutional investors.

KKR Real Estate Finance Trust trades down 3.8%

The company’s 50-day moving average is $18.42 and its two-hundred-day moving average is $18.80. The company has a debt ratio of 3.57, a quick ratio of 430.34 and a current ratio of 430.34. The stock has a market capitalization of $1.13 billion, a PE ratio of 8.90 and a beta of 0.81.

KKR Real Estate Finance Trust (NYSE: KREFGet a rating) last released its quarterly earnings data on Monday, July 25. The company reported earnings per share of $0.48 for the quarter, beating consensus analyst estimates of $0.41 by $0.07. KKR Real Estate Finance Trust posted a net margin of 48.10% and a return on equity of 7.74%. During the same period last year, the company posted EPS of $0.54. As a group, equity research analysts expect KKR Real Estate Finance Trust Inc. to post 1.92 earnings per share for the current year.

KKR Real Estate Finance Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14. Investors of record on Friday, September 30 received a dividend of $0.43. The ex-dividend date was Thursday, September 29. This represents a dividend of $1.72 on an annualized basis and a yield of 10.58%. The dividend payout ratio (DPR) of KKR Real Estate Finance Trust is 90.53%.

About KKR Real Estate Finance Trust

(Get a rating)

KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, is primarily focused on originating and acquiring senior loans secured by commercial real estate (CRA) assets. It engages in the origination and purchase of CRE-related credit investments, including leveraged and unleveraged commercial mortgages, and commercial mortgage-backed securities.

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