JPMorgan Chase & Co. Has Lowered Expectations for KKR Real Estate Finance Trust (NYSE:KREF) Stock Price

KKR Real Estate Finance Trust (NYSE:KREF) had its target price decreased by JPMorgan Chase & Co. from $11.50 to $10.50 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

KREF has been the subject of a number of other research reports. Raymond James reduced their price objective on KKR Real Estate Finance Trust from $14.00 to $13.50 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods reduced their price target on KKR Real Estate Finance Trust from $13.00 to $12.25 and set an “outperform” rating for the company in a report on Tuesday, January 14th. Finally, JMP Securities lifted their price objective on KKR Real Estate Finance Trust from $12.50 to $13.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $12.46.

KKR Real Estate Finance Trust Price Performance

Shares of NYSE:KREF opened at $10.12 on Tuesday. KKR Real Estate Finance Trust has a twelve month low of $8.71 and a twelve month high of $13.19. The company has a current ratio of 277.63, a quick ratio of 277.63 and a debt-to-equity ratio of 3.75. The company has a market cap of $704.05 million, a PE ratio of -33.73 and a beta of 1.00. The company’s 50 day moving average is $10.83 and its 200 day moving average is $11.27.

KKR Real Estate Finance Trust (NYSE:KREF) last released its quarterly earnings data on Monday, October 21st. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The firm had revenue of $140.15 million for the quarter, compared to analyst estimates of $39.52 million. KKR Real Estate Finance Trust had a net margin of 0.40% and a return on equity of 9.46%. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, sell-side analysts forecast that KKR Real Estate Finance Trust will post 1.4 EPS for the current year.

KKR Real Estate Finance Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.88%. KKR Real Estate Finance Trust’s dividend payout ratio is currently -333.32%.

Institutional Investors Weigh In On KKR Real Estate Finance Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in KKR Real Estate Finance Trust by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,542 shares of the company’s stock valued at $349,000 after purchasing an additional 935 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of KKR Real Estate Finance Trust during the third quarter worth $25,000. First Trust Direct Indexing L.P. grew its stake in shares of KKR Real Estate Finance Trust by 24.6% in the third quarter. First Trust Direct Indexing L.P. now owns 12,885 shares of the company’s stock valued at $159,000 after buying an additional 2,546 shares in the last quarter. Creative Planning raised its holdings in shares of KKR Real Estate Finance Trust by 37.0% in the 3rd quarter. Creative Planning now owns 21,524 shares of the company’s stock valued at $266,000 after buying an additional 5,809 shares during the period. Finally, Algert Global LLC lifted its stake in KKR Real Estate Finance Trust by 7.2% during the 2nd quarter. Algert Global LLC now owns 88,193 shares of the company’s stock worth $798,000 after acquiring an additional 5,933 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

About KKR Real Estate Finance Trust

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