KKR Real Estate Finance Trust (NYSE:KREF) issued its earnings results on Monday. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03, Fidelity Earnings reports. KKR Real Estate Finance Trust had a net margin of 65.77% and a return on equity of 8.53%. The business had revenue of $51.90 million for the quarter, compared to analysts’ expectations of $46.10 million.
Shares of KREF traded up $0.22 during mid-day trading on Tuesday, reaching $20.11. 2,736 shares of the stock traded hands, compared to its average volume of 111,821. The firm has a market capitalization of $1.06 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 2.24 and a beta of -0.05. The company has a debt-to-equity ratio of 1.68, a current ratio of 558.64 and a quick ratio of 558.64. KKR Real Estate Finance Trust has a 1 year low of $18.09 and a 1 year high of $21.41.
The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, September 27th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 8.55%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is currently 140.98%.
A number of research analysts have recently commented on KREF shares. JPMorgan Chase & Co. boosted their price target on shares of KKR Real Estate Finance Trust from $19.50 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, October 24th. JMP Securities started coverage on shares of KKR Real Estate Finance Trust in a research report on Wednesday, October 17th. They set an “outperform” rating and a $21.50 price target for the company. Zacks Investment Research upgraded shares of KKR Real Estate Finance Trust from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, October 10th. Finally, Wells Fargo & Co upgraded shares of KKR Real Estate Finance Trust from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $20.00 to $22.00 in a research report on Wednesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $21.50.
A hedge fund recently raised its stake in KKR Real Estate Finance Trust stock. Bank of New York Mellon Corp increased its stake in KKR Real Estate Finance Trust Inc (NYSE:KREF) by 19.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,927 shares of the company’s stock after acquiring an additional 10,621 shares during the period. Bank of New York Mellon Corp owned about 0.12% of KKR Real Estate Finance Trust worth $1,304,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 71.81% of the company’s stock.
About KKR Real Estate Finance Trust
KKR Real Estate Finance Trust Inc, a real estate finance company, focuses primarily on originating and acquiring senior loans secured by commercial real estate assets. The company engages in the origination and purchase of credit investments related to commercial real estate, including leveraged and unleveraged commercial mortgage loans, and commercial mortgage-backed securities.
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