Wells Fargo & Company Increases KKR Real Estate Finance Trust (NYSE:KREF) Price Target to $14.00

KKR Real Estate Finance Trust (NYSE:KREF) had its target price lifted by Wells Fargo & Company from $13.00 to $14.00 in a research note published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

KREF has been the topic of a number of other research reports. Raymond James increased their target price on shares of KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the stock an outperform rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on KKR Real Estate Finance Trust from $10.00 to $9.50 and set an overweight rating on the stock in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods upgraded KKR Real Estate Finance Trust from a market perform rating to an outperform rating and upped their target price for the company from $11.50 to $13.00 in a research report on Thursday, September 5th. Finally, BTIG Research restated a buy rating and issued a $11.50 price target on shares of KKR Real Estate Finance Trust in a research report on Friday, July 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $12.14.

KKR Real Estate Finance Trust Price Performance

Shares of NYSE KREF opened at $12.61 on Friday. The business’s 50 day moving average is $11.39 and its 200-day moving average is $10.24. The firm has a market cap of $874.05 million, a P/E ratio of -27.41 and a beta of 0.99. KKR Real Estate Finance Trust has a 1-year low of $8.71 and a 1-year high of $14.12. The company has a current ratio of 392.62, a quick ratio of 392.62 and a debt-to-equity ratio of 3.86.

KKR Real Estate Finance Trust (NYSE:KREF) last posted its earnings results on Monday, July 22nd. The company reported ($1.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($1.87). KKR Real Estate Finance Trust had a return on equity of 9.88% and a net margin of 5.88%. The firm had revenue of $47.60 million for the quarter, compared to analyst estimates of $45.47 million. During the same period in the prior year, the business posted $0.48 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts predict that KKR Real Estate Finance Trust will post 1.35 earnings per share for the current year.

KKR Real Estate Finance Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.93%. KKR Real Estate Finance Trust’s payout ratio is -217.39%.

Hedge Funds Weigh In On KKR Real Estate Finance Trust

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in KKR Real Estate Finance Trust by 14.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 804,214 shares of the company’s stock worth $10,640,000 after purchasing an additional 104,360 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of KKR Real Estate Finance Trust in the 4th quarter valued at $180,000. Quest Partners LLC bought a new position in shares of KKR Real Estate Finance Trust in the 4th quarter valued at $403,000. Aigen Investment Management LP acquired a new stake in shares of KKR Real Estate Finance Trust during the 4th quarter valued at $290,000. Finally, Allianz Asset Management GmbH grew its position in KKR Real Estate Finance Trust by 3.6% during the 4th quarter. Allianz Asset Management GmbH now owns 545,212 shares of the company’s stock worth $7,213,000 after acquiring an additional 19,100 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

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.