Invesco Ltd. trimmed its holdings in KKR Real Estate Finance Trust Inc. (NYSE:KREF - Free Report) by 45.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 716,637 shares of the company's stock after selling 590,283 shares during the period. Invesco Ltd. owned 1.04% of KKR Real Estate Finance Trust worth $7,238,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KREF. Illinois Municipal Retirement Fund raised its position in KKR Real Estate Finance Trust by 6.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 31,711 shares of the company's stock valued at $320,000 after purchasing an additional 1,842 shares during the last quarter. Rhumbline Advisers increased its holdings in KKR Real Estate Finance Trust by 1.2% in the fourth quarter. Rhumbline Advisers now owns 175,092 shares of the company's stock valued at $1,768,000 after purchasing an additional 2,100 shares during the period. Wedbush Securities Inc. lifted its holdings in KKR Real Estate Finance Trust by 8.1% during the 4th quarter. Wedbush Securities Inc. now owns 79,187 shares of the company's stock worth $800,000 after buying an additional 5,945 shares during the period. Fox Run Management L.L.C. grew its position in shares of KKR Real Estate Finance Trust by 35.5% in the 4th quarter. Fox Run Management L.L.C. now owns 23,299 shares of the company's stock valued at $235,000 after buying an additional 6,110 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of KKR Real Estate Finance Trust by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 283,897 shares of the company's stock valued at $2,867,000 after buying an additional 8,873 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of KKR Real Estate Finance Trust from $11.50 to $9.50 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JMP Securities cut their price objective on shares of KKR Real Estate Finance Trust from $13.00 to $12.00 and set a "market outperform" rating on the stock in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods cut shares of KKR Real Estate Finance Trust from an "outperform" rating to a "market perform" rating and set a $10.75 target price on the stock. in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.88.
Check Out Our Latest Stock Analysis on KKR Real Estate Finance Trust
KKR Real Estate Finance Trust Stock Performance
NYSE:KREF traded up $0.11 during mid-day trading on Tuesday, reaching $9.15. The company's stock had a trading volume of 249,177 shares, compared to its average volume of 528,574. The company has a current ratio of 296.16, a quick ratio of 296.16 and a debt-to-equity ratio of 3.50. The stock has a market cap of $620.09 million, a P/E ratio of 50.81 and a beta of 0.88. The firm's fifty day moving average price is $10.24 and its two-hundred day moving average price is $10.78. KKR Real Estate Finance Trust Inc. has a 12-month low of $8.28 and a 12-month high of $12.95.
KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.32). The business had revenue of $31.34 million for the quarter, compared to the consensus estimate of $34.77 million. KKR Real Estate Finance Trust had a net margin of 6.30% and a return on equity of 8.53%. On average, equities analysts forecast that KKR Real Estate Finance Trust Inc. will post 1.05 EPS for the current fiscal year.
KKR Real Estate Finance Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.93%. The ex-dividend date of this dividend was Monday, March 31st. KKR Real Estate Finance Trust's payout ratio is 625.00%.
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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