Truist Financial Corp cut its holdings in KKR Real Estate Finance Trust Inc. (NYSE:KREF – Get Rating) by 51.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investors owned 11,729 shares of the company’s stock after selling 12,194 shares during the period. Truist Financial Corp’s holdings in KKR Real Estate Finance Trust were worth $190,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors bought a new stake in KKR Real Estate Finance Trust in the second quarter worth $56,000. Venture Visionary Partners LLC bought a new stake in KKR Real Estate Finance Trust in the second quarter worth $61,000. KBC Group NV bought a new stake in KKR Real Estate Finance Trust in the second quarter worth $65,000. Mutual of America Capital Management LLC boosted its holdings in KKR Real Estate Finance Trust by 29.0% in the second quarter. Mutual of America Capital Management LLC now owns 8,329 shares of the company’s stock worth $145,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Goodwin Daniel L bought a new stake in KKR Real Estate Finance Trust during the second quarter valued at about $183,000. 76.26% of the stock is currently owned by institutional investors.
KKR Real Estate Finance Trust Stock Up 1.1 %
Shares of KREF opened at $15.61 on Friday. The company has a 50-day simple moving average of $15.26 and a 200-day simple moving average of $17.20. The firm has a market capitalization of $1.08 billion, a P/E ratio of 24.78 and a beta of 0.79. The company has a debt-to-equity ratio of 3.69, a quick ratio of 309.42 and a current ratio of 309.42. KKR Real Estate Finance Trust Inc. has a 52 week low of $13.55 and a 52 week high of $21.75.
KKR Real Estate Finance Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 11.02%. The ex-dividend date was Thursday, December 29th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is presently 273.02%.
Analyst Upgrades and Downgrades
KREF has been the subject of a number of recent analyst reports. Raymond James decreased their price target on shares of KKR Real Estate Finance Trust from $23.50 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, October 18th. JPMorgan Chase & Co. decreased their price target on shares of KKR Real Estate Finance Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, October 24th. BTIG Research decreased their price target on shares of KKR Real Estate Finance Trust to $19.00 in a report on Thursday, October 27th. JMP Securities decreased their price target on shares of KKR Real Estate Finance Trust from $22.00 to $19.00 and set a “market outperform” rating for the company in a report on Tuesday, October 25th. Finally, Keefe, Bruyette & Woods cut shares of KKR Real Estate Finance Trust to a “market perform” rating in a report on Thursday, December 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, KKR Real Estate Finance Trust currently has an average rating of “Moderate Buy” and an average target price of $20.00.
About KKR Real Estate Finance Trust
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KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on originating and acquiring 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 mortgage loans, and commercial mortgage-backed securities.
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