Bank of New York Mellon Corp Sells 29,722 Shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF)

Bank of New York Mellon Corp cut its holdings in KKR Real Estate Finance Trust Inc. (NYSE:KREFFree Report) by 6.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 433,978 shares of the company’s stock after selling 29,722 shares during the quarter. Bank of New York Mellon Corp’s holdings in KKR Real Estate Finance Trust were worth $5,151,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mission Wealth Management LP acquired a new stake in KKR Real Estate Finance Trust in the 3rd quarter valued at about $177,000. Commonwealth Equity Services LLC acquired a new stake in shares of KKR Real Estate Finance Trust in the third quarter valued at approximately $119,000. SG Americas Securities LLC acquired a new stake in shares of KKR Real Estate Finance Trust in the third quarter valued at approximately $420,000. California State Teachers Retirement System raised its position in KKR Real Estate Finance Trust by 6.8% in the 2nd quarter. California State Teachers Retirement System now owns 71,274 shares of the company’s stock worth $867,000 after purchasing an additional 4,514 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in KKR Real Estate Finance Trust by 45.9% during the 2nd quarter. Osaic Holdings Inc. now owns 75,289 shares of the company’s stock worth $916,000 after buying an additional 23,678 shares in the last quarter. 73.01% of the stock is owned by institutional investors.

KKR Real Estate Finance Trust Stock Performance

Shares of KKR Real Estate Finance Trust stock opened at $12.76 on Wednesday. The firm has a fifty day moving average of $12.94 and a two-hundred day moving average of $12.25. The company has a debt-to-equity ratio of 4.20, a quick ratio of 384.64 and a current ratio of 384.64. The stock has a market capitalization of $884.05 million, a price-to-earnings ratio of -42.52 and a beta of 1.02. KKR Real Estate Finance Trust Inc. has a 52 week low of $9.94 and a 52 week high of $16.44.

KKR Real Estate Finance Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 13.48%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -573.31%.

Analysts Set New Price Targets

Several research firms have recently commented on KREF. JMP Securities lifted their target price on KKR Real Estate Finance Trust from $13.00 to $14.50 and gave the company a “market outperform” rating in a research note on Tuesday, December 5th. Citigroup decreased their price target on KKR Real Estate Finance Trust from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. Finally, Raymond James dropped their price objective on KKR Real Estate Finance Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Wednesday, October 25th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.42.

Read Our Latest Report on KREF

About KKR Real Estate Finance Trust

(Free Report)

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

Want to see what other hedge funds are holding KREF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR Real Estate Finance Trust Inc. (NYSE:KREFFree Report).

Institutional Ownership by Quarter for KKR Real Estate Finance Trust (NYSE:KREF)

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