JPMorgan Chase & Co. Cuts Stock Position in KKR Real Estate Finance Trust Inc. (NYSE:KREF)

JPMorgan Chase & Co. reduced its stake in shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF) by 16.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 553,272 shares of the company’s stock after selling 111,510 shares during the period. JPMorgan Chase & Co. owned about 0.80% of KKR Real Estate Finance Trust worth $6,833,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Public Sector Pension Investment Board grew its stake in KKR Real Estate Finance Trust by 6.1% during the second quarter. Public Sector Pension Investment Board now owns 128,155 shares of the company’s stock valued at $1,160,000 after acquiring an additional 7,333 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of KKR Real Estate Finance Trust by 2.5% during 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. Algert Global LLC increased its holdings in shares of KKR Real Estate Finance Trust by 7.2% in the second quarter. Algert Global LLC now owns 88,193 shares of the company’s stock worth $798,000 after buying an additional 5,933 shares during the period. SG Americas Securities LLC increased its stake in KKR Real Estate Finance Trust by 128.3% in the 3rd quarter. SG Americas Securities LLC now owns 34,821 shares of the company’s stock worth $430,000 after purchasing an additional 19,570 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of KKR Real Estate Finance Trust in the third quarter worth $25,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KREF has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. lowered their price target 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 Monday, December 9th. JMP Securities upped their price objective on KKR Real Estate Finance Trust from $12.50 to $13.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Raymond James lowered their target price on shares of KKR Real Estate Finance Trust from $14.00 to $13.50 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on KKR Real Estate Finance Trust from $13.00 to $12.25 and set an “outperform” rating for the company in a research report on Tuesday. Six analysts have rated the stock with a buy rating, According to MarketBeat, KKR Real Estate Finance Trust has a consensus rating of “Buy” and a consensus price target of $12.63.

KKR Real Estate Finance Trust Stock Up 0.3 %

Shares of KREF opened at $10.32 on Thursday. KKR Real Estate Finance Trust Inc. has a 12-month low of $8.71 and a 12-month high of $13.19. The firm has a fifty day moving average price of $11.02 and a 200-day moving average price of $11.23. The firm has a market capitalization of $717.99 million, a P/E ratio of -34.40 and a beta of 1.00. The company has a current ratio of 277.63, a quick ratio of 277.63 and a debt-to-equity ratio of 3.75.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. KKR Real Estate Finance Trust had a net margin of 0.40% and a return on equity of 9.46%. The company had revenue of $140.15 million during the quarter, compared to the consensus estimate of $39.52 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Equities research analysts expect that KKR Real Estate Finance Trust Inc. will post 1.4 earnings per share for the current year.

KKR Real Estate Finance Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 9.69%. KKR Real Estate Finance Trust’s payout ratio is presently -333.33%.

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.