KKR Real Estate Finance Trust (NYSE:KREF) Issues Earnings Results

KKR Real Estate Finance Trust (NYSE:KREF) announced its earnings results on Tuesday. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02, Briefing.com reports. The business had revenue of $151.62 million during the quarter, compared to analyst estimates of $43.16 million. KKR Real Estate Finance Trust had a negative net margin of 1.39% and a positive return on equity of 10.38%. During the same period in the previous year, the business earned $0.48 EPS.

KKR Real Estate Finance Trust Price Performance

Shares of KREF traded up $0.07 during mid-day trading on Friday, hitting $9.63. 176,908 shares of the stock were exchanged, compared to its average volume of 591,770. KKR Real Estate Finance Trust has a 52-week low of $9.09 and a 52-week high of $14.12. The company has a debt-to-equity ratio of 4.20, a quick ratio of 361.75 and a current ratio of 364.56. The firm has a 50-day moving average of $9.80 and a two-hundred day moving average of $11.29. The company has a market cap of $667.46 million, a PE ratio of -21.00 and a beta of 0.96.

KKR Real Estate Finance Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.38%. KKR Real Estate Finance Trust’s dividend payout ratio is -217.39%.

Analyst Ratings Changes

A number of research firms have issued reports on KREF. JPMorgan Chase & Co. cut their price target on KKR Real Estate Finance Trust from $11.50 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Wells Fargo & Company cut their target price on shares of KKR Real Estate Finance Trust from $12.00 to $10.50 and set an “overweight” rating for the company in a research report on Thursday, February 8th. Keefe, Bruyette & Woods cut their price objective on shares of KKR Real Estate Finance Trust from $10.00 to $9.75 and set a “market perform” rating for the company in a research report on Friday. Finally, JMP Securities decreased their target price on KKR Real Estate Finance Trust from $14.50 to $13.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, KKR Real Estate Finance Trust has a consensus rating of “Moderate Buy” and a consensus target price of $11.96.

Insider Transactions at KKR Real Estate Finance Trust

In other news, COO W Patrick Mattson acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of $9.72 per share, for a total transaction of $97,200.00. Following the completion of the acquisition, the chief operating officer now directly owns 308,446 shares of the company’s stock, valued at approximately $2,998,095.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other KKR Real Estate Finance Trust news, COO W Patrick Mattson bought 10,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were purchased at an average cost of $9.72 per share, for a total transaction of $97,200.00. Following the transaction, the chief operating officer now directly owns 308,446 shares of the company’s stock, valued at $2,998,095.12. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew A. Salem acquired 26,000 shares of KKR Real Estate Finance Trust stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of $9.72 per share, with a total value of $252,720.00. Following the completion of the purchase, the chief executive officer now owns 460,309 shares in the company, valued at approximately $4,474,203.48. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

About KKR Real Estate Finance Trust

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.