Citigroup Inc. Sells 19,984 Shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF)

Citigroup Inc. trimmed its holdings in shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF) by 47.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,123 shares of the company’s stock after selling 19,984 shares during the period. Citigroup Inc.’s holdings in KKR Real Estate Finance Trust were worth $263,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KREF. BlackRock Inc. raised its position in KKR Real Estate Finance Trust by 0.5% during the second quarter. BlackRock Inc. now owns 10,315,758 shares of the company’s stock worth $125,543,000 after acquiring an additional 52,577 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of KKR Real Estate Finance Trust by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,535,080 shares of the company’s stock valued at $89,945,000 after purchasing an additional 204,534 shares during the period. State Street Corp lifted its stake in KKR Real Estate Finance Trust by 2.1% in the 1st quarter. State Street Corp now owns 2,270,766 shares of the company’s stock valued at $26,837,000 after purchasing an additional 45,796 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in KKR Real Estate Finance Trust by 330.9% during the first quarter. Balyasny Asset Management L.P. now owns 1,516,913 shares of the company’s stock worth $17,278,000 after purchasing an additional 1,164,851 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in KKR Real Estate Finance Trust by 18.8% during the first quarter. Allianz Asset Management GmbH now owns 1,285,600 shares of the company’s stock worth $26,496,000 after purchasing an additional 203,500 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KREF shares. JPMorgan Chase & Co. cut their price objective on KKR Real Estate Finance Trust from $12.00 to $11.50 and set an “overweight” rating for the company in a research report on Thursday, February 8th. JMP Securities decreased their price objective on shares of KKR Real Estate Finance Trust from $14.50 to $13.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 7th. Finally, Wells Fargo & Company cut their target price on shares of KKR Real Estate Finance Trust from $12.00 to $10.50 and set an “overweight” rating for the company in a research note on Thursday, February 8th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.57.

Insiders Place Their Bets

In other KKR Real Estate Finance Trust news, COO W Patrick Mattson bought 10,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were purchased at an average price of $9.72 per share, for a total transaction of $97,200.00. Following the transaction, the chief operating officer now directly owns 308,446 shares in the company, valued at approximately $2,998,095.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO W Patrick Mattson bought 10,000 shares of KKR Real Estate Finance Trust stock in a transaction dated Thursday, February 8th. The shares were bought at an average cost of $9.72 per share, with a total value of $97,200.00. Following the acquisition, the chief operating officer now owns 308,446 shares in the company, valued at approximately $2,998,095.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew A. Salem purchased 26,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average cost of $9.72 per share, with a total value of $252,720.00. Following the purchase, the chief executive officer now owns 460,309 shares of the company’s stock, valued at $4,474,203.48. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

KKR Real Estate Finance Trust Stock Down 1.0 %

KREF opened at $9.96 on Thursday. The stock has a fifty day moving average of $10.53 and a 200-day moving average of $11.62. The company has a market capitalization of $690.33 million, a P/E ratio of -12.77 and a beta of 0.96. KKR Real Estate Finance Trust Inc. has a fifty-two week low of $9.09 and a fifty-two week high of $14.12. The company has a debt-to-equity ratio of 4.32, a quick ratio of 361.75 and a current ratio of 361.76.

KKR Real Estate Finance Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.04%. The ex-dividend date is Wednesday, March 27th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is -220.51%.

KKR Real Estate Finance Trust Profile

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.