Drive Wealth Management LLC acquired a new position in KKR Real Estate Finance Trust Inc. (NYSE:KREF - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 71,286 shares of the company's stock, valued at approximately $898,000. Drive Wealth Management LLC owned about 0.10% of KKR Real Estate Finance Trust at the end of the most recent quarter.
Several other large investors have also modified their holdings of KREF. BNP Paribas Financial Markets boosted its holdings in shares of KKR Real Estate Finance Trust by 134.3% in the 1st quarter. BNP Paribas Financial Markets now owns 47,504 shares of the company's stock worth $478,000 after acquiring an additional 27,230 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in shares of KKR Real Estate Finance Trust in the 1st quarter valued at about $438,000. CANADA LIFE ASSURANCE Co raised its stake in shares of KKR Real Estate Finance Trust by 44.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 72,930 shares of the company's stock worth $733,000 after buying an additional 22,312 shares during the last quarter. EntryPoint Capital LLC acquired a new position in KKR Real Estate Finance Trust in the first quarter valued at approximately $54,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in KKR Real Estate Finance Trust by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,846 shares of the company's stock valued at $170,000 after acquiring an additional 2,481 shares during the last quarter. 70.23% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of KKR Real Estate Finance Trust from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $11.50 to $13.00 in a report on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of KKR Real Estate Finance Trust from $11.50 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Wells Fargo & Company boosted their price objective on KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the stock an "overweight" rating in a report on Friday, September 20th. JMP Securities lifted their target price 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. Finally, Raymond James decreased their price target 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $12.83.
Read Our Latest Analysis on KREF
KKR Real Estate Finance Trust Price Performance
Shares of KREF traded up $0.15 during trading hours on Monday, hitting $11.41. 314,416 shares of the company were exchanged, compared to its average volume of 529,486. The company has a market cap of $793.83 million, a price-to-earnings ratio of -37.53 and a beta of 0.99. The firm's fifty day moving average is $11.98 and its 200 day moving average is $10.81. KKR Real Estate Finance Trust Inc. has a fifty-two week low of $8.71 and a fifty-two week high of $14.12. The company has a quick ratio of 277.63, a current ratio of 277.63 and a debt-to-equity ratio of 3.75.
KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last issued its earnings results on Monday, October 21st. The company reported $0.37 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $39.52 million. During the same period in the previous year, the company earned $0.47 EPS. On average, equities analysts anticipate that KKR Real Estate Finance Trust Inc. will post 1.4 earnings per share for the current fiscal year.
KKR Real Estate Finance Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.76%. KKR Real Estate Finance Trust's payout ratio is -333.33%.
KKR Real Estate Finance Trust Profile
(
Free Report)
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.
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