KKR Real Estate Finance Trust (NYSE:KREF) Downgraded to “Neutral” at Citigroup

KKR Real Estate Finance Trust (NYSE:KREF) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Wednesday, The Fly reports.

A number of other equities research analysts have also issued reports on the stock. TheStreet raised shares of KKR Real Estate Finance Trust from a “d” rating to a “c” rating in a research note on Tuesday, August 4th. Raymond James reissued a “buy” rating and set a $19.50 price objective on shares of KKR Real Estate Finance Trust in a research report on Monday, August 3rd. Zacks Investment Research raised KKR Real Estate Finance Trust from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Saturday, August 1st. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $20.00 price target on shares of KKR Real Estate Finance Trust in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $18.25.

KKR Real Estate Finance Trust stock traded up $0.21 during mid-day trading on Wednesday, hitting $18.57. The company’s stock had a trading volume of 337,903 shares, compared to its average volume of 488,648. The company has a debt-to-equity ratio of 3.98, a current ratio of 517.56 and a quick ratio of 517.56. KKR Real Estate Finance Trust has a 52-week low of $6.84 and a 52-week high of $22.03. The firm’s 50 day moving average is $17.70 and its 200 day moving average is $16.36. The company has a market cap of $1.10 billion, a PE ratio of 24.76 and a beta of 0.64.

KKR Real Estate Finance Trust (NYSE:KREF) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. KKR Real Estate Finance Trust had a net margin of 21.52% and a return on equity of 9.44%. As a group, analysts forecast that KKR Real Estate Finance Trust will post 1.8 EPS for the current year.

In related news, major shareholder Value Spn-Kref Holdin Tactical sold 2,623 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $18.51, for a total value of $48,551.73. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kkr Group Partnership L.P. sold 20,657 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $18.50, for a total value of $382,154.50. The disclosure for this sale can be found here. Insiders sold 39,370 shares of company stock valued at $728,532 over the last quarter. 0.92% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Comerica Bank raised its holdings in KKR Real Estate Finance Trust by 2.9% in the 1st quarter. Comerica Bank now owns 23,426 shares of the company’s stock worth $336,000 after acquiring an additional 668 shares during the period. Swiss National Bank grew its position in shares of KKR Real Estate Finance Trust by 1.4% in the first quarter. Swiss National Bank now owns 50,200 shares of the company’s stock valued at $754,000 after purchasing an additional 700 shares during the last quarter. Altshuler Shaham Ltd increased its stake in shares of KKR Real Estate Finance Trust by 55.7% in the first quarter. Altshuler Shaham Ltd now owns 2,008 shares of the company’s stock worth $31,000 after purchasing an additional 718 shares during the period. Strs Ohio lifted its position in shares of KKR Real Estate Finance Trust by 13.4% during the 2nd quarter. Strs Ohio now owns 7,600 shares of the company’s stock worth $126,000 after purchasing an additional 900 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in KKR Real Estate Finance Trust by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 20,235 shares of the company’s stock valued at $304,000 after purchasing an additional 1,010 shares during the period. Institutional investors and hedge funds own 81.28% of the company’s stock.

About KKR Real Estate Finance Trust

KKR Real Estate Finance Trust Inc, a real estate finance company, focuses primarily on originating and acquiring senior loans secured by commercial real estate assets. The company engages in the origination and purchase of credit investments related to commercial real estate, including leveraged and unleveraged commercial mortgage loans, and commercial mortgage-backed securities.

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