KKR Real Estate Finance Trust (NYSE:KREF) Rating Increased to Buy at Zacks Investment Research

KKR Real Estate Finance Trust (NYSE: KREF) was upgraded from a “hold” rating to a “buy” rating by Zacks Investment Research in a research note issued to investors on Friday, Zacks.com reports. The company currently has a price target of $ 24.00 on the stock. Zacks Investment Research’s price target suggests a potential upside of 10.50% from the stock’s previous closing price.

According to Zacks, “KKR Real Estate Finance Trust Inc. is a real estate finance company. It mainly focuses on the issuance and acquisition of senior loans backed by commercial real estate assets. KKR Real Estate Finance Trust Inc. is headquartered in New York. “

A number of other analysts have also commented on the company. JPMorgan Chase & Co. raised their price target for the KKR Real Estate Finance Trust from USD 19.00 to USD 20.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. BTIG Research confirmed a “Buy” rating in a research release on Tuesday, April 27, and issued a price target of $ 21.50 (previously $ 19.50) on shares of the KKR Real Estate Finance Trust. Raymond James raised his price target for the KKR Real Estate Finance Trust from USD 21.00 to USD 22.00 and rated the share “Outperform” in a research note on Wednesday, April 28th. Finally, JMP Securities upgraded the KKR Real Estate Finance Trust from a “Market Perform” rating to a “Market Outperform” rating and set a price target of $ 21.50 for the company on Tuesday, May 4th. Two analysts have given the stock a hold rating and six have given it a buy rating. The stock currently has a consensus rating of “Buy” and a consensus price target of $ 21.00.

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NYSE: KREF shares rose $ 0.07 during Friday’s trading to hit $ 21.72. 282,538 shares of the company were traded in the hands, compared to an average volume of 398,821. The stock has a market capitalization of $ 1.21 billion, a price / earnings ratio of 10.25, and a beta of 0.73. The KKR Real Estate Finance Trust has a 52-week low of $ 14.76 and a 52-week high of $ 21.86. The company has a quick ratio of 420.22, a current ratio of 420.22, and debt of 3.91. The company’s fifty-day simple moving average is $ 20.22.

KKR Real Estate Finance Trust (NYSE: KREF) last released its quarterly earnings data on Sunday April 25th. The company reported earnings per share of $ 0.55 for the quarter, beating analysts’ consensus estimate of $ 0.51 by $ 0.04. The KKR Real Estate Finance Trust had a return on equity of 11.07% and a net margin of 50.52%. On average, research analysts forecast that the KKR Real Estate Finance Trust will post 1.98 EPS for the current year.

In other news from KKR Real Estate Finance Trust, major shareholder Reft Holdings LP Kkr sold 750,000 shares in the company in a transaction on Thursday May 27th. The stock was sold at an average price of $ 20.07 for a total transaction of $ 15,052,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. Company insiders own 1.30% of the company’s shares.

Several major investors recently changed their holdings in KREF. Manufacturers Life Insurance Company increased its stake in KKR Real Estate Finance Trust shares by 3.7% in the fourth quarter. Manufacturers Life Insurance Company now owns 16,519 shares in the company valued at $ 296,000 after buying an additional 589 shares last quarter. Catalyst Capital Advisors LLC increased its stake in KKR Real Estate Finance Trust by 54.7% in the first quarter. Catalyst Capital Advisors LLC now owns 1,810 shares in the company valued at $ 33,000 after purchasing an additional 640 shares last quarter. Kore Private Wealth LLC increased its stake in KKR Real Estate Finance Trust by 7.2% in the first quarter. Kore Private Wealth LLC now owns 19,291 shares in the company valued at $ 355,000 after purchasing an additional 1,291 shares last quarter. IndexIQ Advisors LLC increased its stake in KKR Real Estate Finance Trust by 13.3% in the first quarter. IndexIQ Advisors LLC now owns 11,433 shares in the company, valued at $ 210,000, after purchasing an additional 1,345 shares last quarter. Finally, Aperio Group LLC increased its stake in KKR Real Estate Finance Trust by 3.5% in the fourth quarter. Aperio Group LLC now owns 42,237 shares in the company valued at $ 757,000 after purchasing an additional 1,430 shares last quarter. Hedge funds and other institutional investors own 87.08% of the company’s shares.

KKR Real Estate Finance Trust Company Profile

KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on the issuance and acquisition of senior loans backed by commercial real estate (CRE) assets. The company is engaged in the procurement and purchase of credit investments related to commercial real estate, including leveraged and unlevered commercial mortgage loans and commercial mortgage-backed securities.

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