KKR Real Estate Finance Trust (NYSE:KREF) Stock Price Down 4.5% After Earnings Miss

KKR Real Estate Finance Trust Inc. (NYSE:KREF) shares were down 4.5% on Thursday following a weaker than expected earnings announcement. The stock traded as low as $8.95 and last traded at $8.87. Approximately 246,549 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 498,389 shares. The stock had previously closed at $9.28.

The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.32). The firm had revenue of $31.34 million during the quarter, compared to analyst estimates of $34.77 million. KKR Real Estate Finance Trust had a return on equity of 8.53% and a net margin of 6.30%.

KKR Real Estate Finance Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.16%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently 555.56%.

Analyst Ratings Changes

Several brokerages have weighed in on KREF. JMP Securities decreased their price objective on shares of KKR Real Estate Finance Trust from $13.00 to $12.00 and set a “market outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price target on KKR Real Estate Finance Trust from $11.50 to $9.50 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut KKR Real Estate Finance Trust from an “outperform” rating to a “market perform” rating and set a $10.75 price objective on the stock. in a research note on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, KKR Real Estate Finance Trust has an average rating of “Moderate Buy” and an average price target of $11.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KREF. Farther Finance Advisors LLC boosted its holdings in shares of KKR Real Estate Finance Trust by 9,954.2% during the first quarter. Farther Finance Advisors LLC now owns 2,413 shares of the company’s stock valued at $26,000 after acquiring an additional 2,389 shares during the period. GAMMA Investing LLC lifted its position in KKR Real Estate Finance Trust by 2,508.7% in the 1st quarter. GAMMA Investing LLC now owns 5,400 shares of the company’s stock valued at $58,000 after purchasing an additional 5,193 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in KKR Real Estate Finance Trust during the 4th quarter valued at about $96,000. Caxton Associates LP bought a new position in KKR Real Estate Finance Trust in the 4th quarter worth approximately $110,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in KKR Real Estate Finance Trust in the 4th quarter valued at approximately $119,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Stock Down 3.4 %

The stock has a market cap of $615.68 million, a P/E ratio of 49.78 and a beta of 0.88. The firm has a 50 day simple moving average of $10.34 and a two-hundred day simple moving average of $10.83. The company has a debt-to-equity ratio of 3.50, a quick ratio of 296.16 and a current ratio of 296.16.

KKR Real Estate Finance Trust Company 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.