KKR Real Estate Finance Trust (NYSE:KREF) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

KKR Real Estate Finance Trust (NYSE:KREF) posted its quarterly earnings results on Tuesday. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02, Briefing.com reports. The company had revenue of $151.62 million during the quarter, compared to analyst estimates of $43.16 million. KKR Real Estate Finance Trust had a negative net margin of 4.82% and a positive return on equity of 10.59%. During the same quarter in the prior year, the business earned $0.48 earnings per share.

KKR Real Estate Finance Trust Price Performance

NYSE KREF traded down $0.25 during trading hours on Wednesday, reaching $9.77. The company’s stock had a trading volume of 417,284 shares, compared to its average volume of 588,166. The firm’s 50-day moving average price is $9.77 and its 200-day moving average price is $11.31. The company has a quick ratio of 361.75, a current ratio of 361.76 and a debt-to-equity ratio of 4.32. KKR Real Estate Finance Trust has a 1 year low of $9.09 and a 1 year high of $14.12. The company has a market capitalization of $677.16 million, a price-to-earnings ratio of -12.38 and a beta of 0.96.

KKR Real Estate Finance Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.24%. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently -128.21%.

Wall Street Analysts Forecast Growth

KREF has been the topic of a number of recent analyst reports. JMP Securities lowered their price target on shares of KKR Real Estate Finance Trust from $14.50 to $13.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company cut their price target on shares of KKR Real Estate Finance Trust from $12.00 to $10.50 and set an “overweight” rating on the stock in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. lowered their price target on KKR Real Estate Finance Trust from $11.50 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.33.

Insider Buying and Selling

In other news, COO W Patrick Mattson acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were acquired at an average cost of $9.72 per share, with a total value of $97,200.00. Following the acquisition, the chief operating officer now directly owns 308,446 shares of the company’s stock, valued at $2,998,095.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, COO W Patrick Mattson purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average price of $9.72 per share, for a total transaction of $97,200.00. Following the acquisition, the chief operating officer now owns 308,446 shares of the company’s stock, valued at approximately $2,998,095.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew A. Salem acquired 26,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average cost of $9.72 per share, for a total transaction of $252,720.00. Following the transaction, the chief executive officer now directly owns 460,309 shares in the company, valued at $4,474,203.48. The disclosure for this purchase can be found here. 1.60% of the stock is owned by insiders.

About KKR Real Estate Finance Trust

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.