KKR Real Estate Finance Trust Inc. (NYSE:KREF) Sees Significant Increase in Short-Term Interest
KKR Real Estate Finance Trust Inc. (NYSE: KREF – Get an assessment) benefited from strong growth in short-term interest rates in June. As of June 30, there was short interest totaling 1,560,000 shares, a growth of 65.1% from the total of 944,600 shares as of June 15. Based on an average daily trading volume of 778,900 shares, the short-term interest rate ratio is currently 2.0 days.
KKR Real Estate Finance Trust Price Performance
Shares of KREF traded up $0.28 at midday Friday, hitting $17.97. 347,181 shares of the company were traded, against an average volume of 739,754. KKR Real Estate Finance Trust has a 12-month low of $16.47 and a 12-month high of $23.40. The company has a market capitalization of $1.22 billion, a P/E ratio of 8.40 and a beta of 0.70. The company’s 50-day moving average price is $18.57 and its two-hundred-day moving average price is $19.99. The company has a debt ratio of 3.30, a quick ratio of 409.61 and a current ratio of 409.61.
KKR Real Estate Finance Trust (NYSE: KREF – Get an assessment) last released its results on Monday, April 25. The company reported EPS of $0.47 for the quarter, beating analyst consensus estimates of $0.44 by $0.03. KKR Real Estate Finance Trust posted a net margin of 54.74% and a return on equity of 7.90%. During the same period of the previous year, the company posted EPS of $0.55. On average, sell-side analysts expect KKR Real Estate Finance Trust to post earnings per share of 1.74 for the current year.
KKR Real Estate Finance Trust announces dividend
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The company also recently announced a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 30 received a dividend of $0.43. This represents an annualized dividend of $1.72 and a dividend yield of 9.57%. The ex-dividend date was Wednesday, June 29. The dividend payout ratio (DPR) of KKR Real Estate Finance Trust is currently 80.37%.
Insider buying and selling
In related news, major shareholder Reft Holdings LP Kkr sold 4,250,000 shares of KKR Real Estate Finance Trust in a trade on Tuesday, June 7. The shares were sold at an average price of $19.51, for a total transaction of $82,917,500.00. Following the sale, the insider now owns 10,000,000 shares of the company, valued at approximately $195,100,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. 1.30% of the shares are currently held by insiders.
Institutional entries and exits
Institutional investors have recently changed their positions in the company. Catalyst Capital Advisors LLC increased its position in KKR Real Estate Finance Trust by 19.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 3,300 shares of the company valued at $69,000 after purchasing an additional 540 shares in the last quarter. Signaturefd LLC increased its position in KKR Real Estate Finance Trust by 40.2% during the first quarter. Signaturefd LLC now owns 1,889 shares of the company valued at $39,000 after purchasing an additional 542 shares in the last quarter. Mutual of America Capital Management LLC increased its position in KKR Real Estate Finance Trust by 12.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 6,066 shares of the company valued at $126,000 after buying 683 additional shares last quarter. Claybrook Capital LLC increased its position in KKR Real Estate Finance Trust by 0.6% during the first quarter. Claybrook Capital LLC now owns 109,146 shares of the company valued at $2,249,000 after purchasing an additional 692 shares last quarter. Finally, Strs Ohio increased its position in KKR Real Estate Finance Trust by 9.3% during the fourth quarter. Strs Ohio now owns 8,200 shares of the company valued at $170,000 after purchasing an additional 700 shares in the last quarter. 78.72% of the shares are held by hedge funds and other institutional investors.
Analysts set new price targets
Separately, JMP Securities cut its price target on KKR Real Estate Finance Trust shares from $23.50 to $23.00 and set a “market outperformance” rating for the company in a Monday 21 report. march.
KKR Real Estate Finance Trust Company Profile
KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, is primarily focused on originating and acquiring senior loans secured by commercial real estate (CRA) assets. It engages in the origination and purchase of CRE-related credit investments, including leveraged and unleveraged commercial mortgages, and commercial mortgage-backed securities.
Further reading
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