Principal Financial Group Inc. Cuts Stake in KKR Real Estate Finance Trust Inc. (NYSE:KREF)

Principal Financial Group Inc. decreased its holdings in KKR Real Estate Finance Trust Inc. (NYSE:KREF - Free Report) by 18.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,024 shares of the company's stock after selling 63,110 shares during the quarter. Principal Financial Group Inc. owned about 0.40% of KKR Real Estate Finance Trust worth $3,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Azora Capital LP purchased a new stake in shares of KKR Real Estate Finance Trust during the third quarter valued at $20,167,000. GFS Advisors LLC lifted its position in KKR Real Estate Finance Trust by 9,591.3% during the 3rd quarter. GFS Advisors LLC now owns 290,740 shares of the company's stock worth $3,591,000 after acquiring an additional 287,740 shares during the period. Zacks Investment Management purchased a new stake in KKR Real Estate Finance Trust during the 3rd quarter valued at about $2,792,000. Van ECK Associates Corp increased its holdings in shares of KKR Real Estate Finance Trust by 27.6% in the third quarter. Van ECK Associates Corp now owns 455,291 shares of the company's stock valued at $5,372,000 after purchasing an additional 98,400 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of KKR Real Estate Finance Trust in the third quarter worth about $1,201,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JMP Securities upped their target price 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. Wells Fargo & Company increased their price objective on shares of KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their target price on shares of KKR Real Estate Finance Trust from $12.00 to $11.50 and set an "overweight" rating for the company in a report on Monday, December 9th. Finally, Raymond James lowered 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 report on Wednesday, October 23rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $12.75.

KKR Real Estate Finance Trust Stock Performance

NYSE KREF traded up $0.17 during mid-day trading on Friday, reaching $10.38. 309,810 shares of the stock were exchanged, compared to its average volume of 352,955. The company has a market capitalization of $722.17 million, a P/E ratio of -34.60 and a beta of 1.00. The company has a debt-to-equity ratio of 3.75, a quick ratio of 277.63 and a current ratio of 277.63. The business's 50 day moving average is $11.25 and its 200-day moving average is $11.18. KKR Real Estate Finance Trust Inc. has a 1 year low of $8.71 and a 1 year high of $13.29.

KKR Real Estate Finance Trust (NYSE:KREF - Get Free Report) last posted its earnings results on Monday, October 21st. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 business had revenue of $140.15 million for the quarter, compared to analyst estimates of $39.52 million. During the same period in the prior year, the company posted $0.47 EPS. On average, equities research analysts forecast that KKR Real Estate Finance Trust Inc. will post 1.4 EPS for the current fiscal year.

KKR Real Estate Finance Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.63%. The ex-dividend date is Tuesday, December 31st. KKR Real Estate Finance Trust's dividend payout ratio (DPR) 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.