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Keefe, Bruyette & Woods downgraded shares of KKR Real Estate Finance Trust (NYSE:KREF – Get Rating) to a market perform rating in a research report report published on Thursday morning, The Fly reports.
A number of other analysts have also recently issued reports on KREF. Raymond James reduced their target price on shares of KKR Real Estate Finance Trust from $23.50 to $20.00 and set an outperform rating for the company in a research note on Tuesday, October 18th. BTIG Research lowered their target price on shares of KKR Real Estate Finance Trust to $19.00 in a research report on Thursday, October 27th. JPMorgan Chase & Co. cut their target price on KKR Real Estate Finance Trust from $21.00 to $20.00 and set an overweight rating on the stock in a report on Monday, October 24th. JMP Securities decreased their price target on KKR Real Estate Finance Trust from $22.00 to $19.00 and set a market outperform rating for the company in a research note on Tuesday, October 25th. Finally, TheStreet downgraded KKR Real Estate Finance Trust from a b- rating to a c rating in a research note on Monday, October 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $20.00.
KKR Real Estate Finance Trust Stock Down 4.8 %
Shares of KKR Real Estate Finance Trust stock opened at $14.55 on Thursday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 23.10 and a beta of 0.75. The stock has a 50-day simple moving average of $16.61 and a 200-day simple moving average of $17.88. KKR Real Estate Finance Trust has a 52-week low of $14.46 and a 52-week high of $22.44. The company has a debt-to-equity ratio of 3.69, a current ratio of 309.42 and a quick ratio of 309.42.
KKR Real Estate Finance Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 11.82%. The ex-dividend date is Thursday, December 29th. KKR Real Estate Finance Trust’s dividend payout ratio is currently 273.02%.
Institutional Investors Weigh In On KKR Real Estate Finance Trust
Hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in KKR Real Estate Finance Trust by 11.6% during the 3rd quarter. BlackRock Inc. now owns 9,731,452 shares of the company’s stock valued at $158,136,000 after purchasing an additional 1,013,755 shares during the last quarter. Vanguard Group Inc. raised its position in shares of KKR Real Estate Finance Trust by 15.5% during the first quarter. Vanguard Group Inc. now owns 4,422,793 shares of the company’s stock valued at $91,154,000 after buying an additional 592,973 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of KKR Real Estate Finance Trust by 43.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,729,030 shares of the company’s stock valued at $35,635,000 after buying an additional 519,584 shares during the period. JPMorgan Chase & Co. grew its position in KKR Real Estate Finance Trust by 31.7% during the second quarter. JPMorgan Chase & Co. now owns 1,608,417 shares of the company’s stock worth $28,067,000 after buying an additional 387,366 shares in the last quarter. Finally, State Street Corp increased its stake in KKR Real Estate Finance Trust by 16.5% during the third quarter. State Street Corp now owns 1,974,815 shares of the company’s stock valued at $32,930,000 after acquiring an additional 280,400 shares during the period. 74.91% of the stock is owned by institutional investors.
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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