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KKR Real Estate Finance Trust Inc. (NYSE:KREF – Get Rating) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 2,470,000 shares, a decrease of 6.8% from the October 15th total of 2,650,000 shares. Based on an average trading volume of 571,200 shares, the days-to-cover ratio is currently 4.3 days.
KKR Real Estate Finance Trust Stock Down 0.3 %
KREF opened at $15.99 on Friday. KKR Real Estate Finance Trust has a 1-year low of $15.70 and a 1-year high of $22.44. The stock’s fifty day simple moving average is $17.45 and its 200 day simple moving average is $18.40. The company has a current ratio of 309.42, a quick ratio of 309.42 and a debt-to-equity ratio of 3.69. The stock has a market cap of $1.10 billion, a PE ratio of 25.38 and a beta of 0.78.
KKR Real Estate Finance Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 10.76%. The ex-dividend date of this dividend was Thursday, September 29th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently 273.02%.
Wall Street Analyst Weigh In
Several research firms have recently commented on KREF. JPMorgan Chase & Co. cut their price objective on KKR Real Estate Finance Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, October 24th. TheStreet downgraded KKR Real Estate Finance Trust from a “b-” rating to a “c” rating in a report on Monday, October 24th. JMP Securities cut their price objective on KKR Real Estate Finance Trust from $22.00 to $19.00 and set a “market outperform” rating for the company in a report on Tuesday, October 25th. Raymond James cut their price objective on KKR Real Estate Finance Trust from $23.50 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, October 18th. Finally, Wells Fargo & Company dropped their price target on KKR Real Estate Finance Trust to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Hightower 6M Holding LLC bought a new position in KKR Real Estate Finance Trust during the 1st quarter worth $404,000. Walker Asset Management LLC bought a new position in KKR Real Estate Finance Trust during the 2nd quarter worth $1,434,000. Claybrook Capital LLC increased its position in KKR Real Estate Finance Trust by 23.6% during the 2nd quarter. Claybrook Capital LLC now owns 134,921 shares of the company’s stock worth $2,354,000 after buying an additional 25,775 shares during the period. JRM Investment Counsel LLC increased its position in shares of KKR Real Estate Finance Trust by 0.6% in the first quarter. JRM Investment Counsel LLC now owns 665,558 shares of the company’s stock worth $13,717,000 after purchasing an additional 4,140 shares during the period. Finally, Swiss National Bank increased its position in shares of KKR Real Estate Finance Trust by 17.4% in the first quarter. Swiss National Bank now owns 79,100 shares of the company’s stock worth $1,630,000 after purchasing an additional 11,700 shares during the period. Institutional investors own 74.91% 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 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 mortgage loans, and commercial mortgage-backed securities.
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