JMP Securities Initiates Coverage on KKR Real Estate Finance Trust (KREF)

JMP Securities began coverage on shares of KKR Real Estate Finance Trust (NYSE:KREF) in a report issued on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $21.50 target price on the stock.

A number of other equities research analysts have also weighed in on KREF. Zacks Investment Research raised KKR Real Estate Finance Trust from a hold rating to a buy rating and set a $22.00 price objective on the stock in a report on Wednesday, October 10th. JPMorgan Chase & Co. lowered their price objective on KKR Real Estate Finance Trust from $19.00 to $18.50 and set a $20.65 rating on the stock in a report on Monday, July 23rd. Finally, Wells Fargo & Co raised KKR Real Estate Finance Trust from a market perform rating to an outperform rating and lifted their price objective for the company from $20.00 to $22.00 in a report on Wednesday, August 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $21.25.

NYSE KREF opened at $20.11 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 558.64 and a current ratio of 558.64. KKR Real Estate Finance Trust has a 52-week low of $18.09 and a 52-week high of $21.41. The stock has a market cap of $1.07 billion, a P/E ratio of 11.97, a P/E/G ratio of 2.26 and a beta of -0.16.

KKR Real Estate Finance Trust (NYSE:KREF) last released its quarterly earnings results on Monday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.20. KKR Real Estate Finance Trust had a return on equity of 8.53% and a net margin of 65.77%. The firm had revenue of $40.00 million for the quarter, compared to analyst estimates of $38.00 million. Analysts predict that KKR Real Estate Finance Trust will post 1.78 earnings per share for the current fiscal year.

The business 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 of this dividend 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 payout ratio is 140.98%.

Several hedge funds have recently bought and sold shares of the company. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of KKR Real Estate Finance Trust during the 3rd quarter valued at approximately $604,000. Northern Trust Corp grew its stake in KKR Real Estate Finance Trust by 17.0% in the 2nd quarter. Northern Trust Corp now owns 182,376 shares of the company’s stock worth $3,607,000 after acquiring an additional 26,492 shares during the period. Bank of New York Mellon Corp grew its stake in KKR Real Estate Finance Trust by 19.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 65,927 shares of the company’s stock worth $1,304,000 after acquiring an additional 10,621 shares during the period. Millennium Management LLC purchased a new stake in KKR Real Estate Finance Trust in the 2nd quarter worth approximately $901,000. Finally, Bank of America Corp DE grew its stake in KKR Real Estate Finance Trust by 2,309.5% in the 2nd quarter. Bank of America Corp DE now owns 89,104 shares of the company’s stock worth $1,762,000 after acquiring an additional 85,406 shares during the period. Institutional investors own 72.19% 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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