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

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

KKR Real Estate Finance Trust Price Performance

Shares of KREF traded up $0.07 during trading hours on Friday, reaching $9.63. The company had a trading volume of 176,908 shares, compared to its average volume of 591,770. KKR Real Estate Finance Trust has a 12-month low of $9.09 and a 12-month high of $14.12. The company has a current ratio of 364.56, a quick ratio of 361.75 and a debt-to-equity ratio of 4.20. The company has a market capitalization of $667.46 million, a price-to-earnings ratio of -21.00 and a beta of 0.96. The firm has a 50 day simple moving average of $9.80 and a 200-day simple moving average of $11.29.

KKR Real Estate Finance Trust Cuts Dividend

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

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.