Bank of New York Mellon Corp Reduces Stock Holdings in KKR Real Estate Finance Trust Inc. (NYSE:KREF)

Bank of New York Mellon Corp reduced its position in shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF) by 1.9% in the second quarter, HoldingsChannel reports. The firm owned 396,005 shares of the company’s stock after selling 7,558 shares during the quarter. Bank of New York Mellon Corp’s holdings in KKR Real Estate Finance Trust were worth $3,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in KKR Real Estate Finance Trust by 14.9% in 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 during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of KKR Real Estate Finance Trust in the fourth quarter worth about $180,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of KKR Real Estate Finance Trust by 7.4% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 145,384 shares of the company’s stock valued at $1,923,000 after buying an additional 10,000 shares in the last quarter. Quest Partners LLC bought a new position in shares of KKR Real Estate Finance Trust during the 4th quarter valued at approximately $403,000. Finally, Aigen Investment Management LP purchased a new stake in KKR Real Estate Finance Trust in the 4th quarter worth approximately $290,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KREF shares. BTIG Research reaffirmed a “buy” rating and set a $11.50 price target on shares of KKR Real Estate Finance Trust in a report on Friday, July 19th. JPMorgan Chase & Co. lowered their target price on shares of 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 increased their price target for the stock from $11.50 to $13.00 in a research note on Thursday, September 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $12.00 price objective on shares of KKR Real Estate Finance Trust in a research report on Tuesday, May 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.71.

KKR Real Estate Finance Trust Trading Up 1.0 %

KREF stock opened at $12.30 on Friday. The firm has a fifty day moving average price of $11.07 and a 200 day moving average price of $10.13. KKR Real Estate Finance Trust Inc. has a fifty-two week low of $8.71 and a fifty-two week high of $14.12. The firm has a market cap of $852.76 million, a PE ratio of -26.74 and a beta of 0.99. The company has a debt-to-equity ratio of 3.86, a quick ratio of 392.62 and a current ratio of 392.62.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings data on Monday, July 22nd. The company reported ($1.57) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($1.87). The business had revenue of $47.60 million during the quarter, compared to analysts’ expectations of $45.47 million. KKR Real Estate Finance Trust had a return on equity of 9.88% and a net margin of 5.88%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 earnings per share. Sell-side analysts anticipate that KKR Real Estate Finance Trust Inc. will post 1.35 earnings per share for the current fiscal year.

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.