New York State Teachers Retirement System Trims Stock Holdings in KKR Real Estate Finance Trust Inc. (NYSE:KREF)

New York State Teachers Retirement System lowered its stake in KKR Real Estate Finance Trust Inc. (NYSE:KREF) by 5.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 23,401 shares of the company’s stock after selling 1,400 shares during the quarter. New York State Teachers Retirement System’s holdings in KKR Real Estate Finance Trust were worth $289,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KREF. The Manufacturers Life Insurance Company raised its stake in shares of KKR Real Estate Finance Trust by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,542 shares of the company’s stock valued at $349,000 after acquiring an additional 935 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in KKR Real Estate Finance Trust in the 3rd quarter valued at approximately $25,000. Price T Rowe Associates Inc. MD raised its position in KKR Real Estate Finance Trust by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,846 shares of the company’s stock valued at $170,000 after purchasing an additional 2,481 shares during the period. EntryPoint Capital LLC acquired a new position in KKR Real Estate Finance Trust during the first quarter worth $54,000. Finally, Creative Planning boosted its position in shares of KKR Real Estate Finance Trust by 37.0% during the third quarter. Creative Planning now owns 21,524 shares of the company’s stock worth $266,000 after buying an additional 5,809 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

KREF has been the topic of several research analyst reports. Raymond James cut their price objective on KKR Real Estate Finance Trust from $14.00 to $13.50 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. JMP Securities boosted their price target on shares of KKR Real Estate Finance Trust from $12.50 to $13.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised shares of KKR Real Estate Finance Trust from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $11.50 to $13.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their target price on shares of KKR Real Estate Finance Trust from $11.50 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company increased their target price on shares of KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, KKR Real Estate Finance Trust currently has a consensus rating of “Buy” and an average price target of $12.83.

KKR Real Estate Finance Trust Stock Down 0.8 %

Shares of KKR Real Estate Finance Trust stock opened at $11.89 on Monday. The business has a 50-day simple moving average of $12.01 and a 200-day simple moving average of $10.74. The company has a debt-to-equity ratio of 3.75, a current ratio of 277.63 and a quick ratio of 277.63. KKR Real Estate Finance Trust Inc. has a one year low of $8.71 and a one year high of $14.12.

KKR Real Estate Finance Trust (NYSE:KREF) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. KKR Real Estate Finance Trust had a net margin of 0.40% and a return on equity of 9.46%. The company had revenue of $140.15 million during the quarter, compared to analysts’ expectations of $39.52 million. During the same quarter in the previous year, the business posted $0.47 EPS. On average, sell-side analysts forecast that KKR Real Estate Finance Trust Inc. will post 1.4 earnings per share for the current year.

KKR Real Estate Finance Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.41%. KKR Real Estate Finance Trust’s payout ratio is currently -333.32%.

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.