Drive Wealth Management LLC Invests $898,000 in KKR Real Estate Finance Trust Inc. (NYSE:KREF)

Drive Wealth Management LLC purchased a new position in KKR Real Estate Finance Trust Inc. (NYSE:KREF) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 71,286 shares of the company’s stock, valued at approximately $898,000. Drive Wealth Management LLC owned approximately 0.10% of KKR Real Estate Finance Trust at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Quest Partners LLC bought a new position in KKR Real Estate Finance Trust in the 3rd quarter valued at approximately $1,201,000. Van ECK Associates Corp lifted its holdings in shares of KKR Real Estate Finance Trust by 27.6% during the third quarter. Van ECK Associates Corp now owns 455,291 shares of the company’s stock valued at $5,372,000 after purchasing an additional 98,400 shares in the last quarter. GFS Advisors LLC boosted its position in shares of KKR Real Estate Finance Trust by 9,591.3% during the third quarter. GFS Advisors LLC now owns 290,740 shares of the company’s stock valued at $3,591,000 after buying an additional 287,740 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of KKR Real Estate Finance Trust by 24.6% during the third quarter. First Trust Direct Indexing L.P. now owns 12,885 shares of the company’s stock valued at $159,000 after buying an additional 2,546 shares during the last quarter. Finally, OmniStar Financial Group Inc. bought a new stake in KKR Real Estate Finance Trust in the 3rd quarter worth about $492,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Raymond James lowered their target price on shares of KKR Real Estate Finance Trust from $14.00 to $13.50 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. JMP Securities increased their price objective on shares of KKR Real Estate Finance Trust from $12.50 to $13.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of KKR Real Estate Finance Trust from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods upgraded shares of KKR Real Estate Finance Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $11.50 to $13.00 in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their price target on KKR Real Estate Finance Trust from $11.50 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $12.83.

KKR Real Estate Finance Trust Stock Performance

Shares of NYSE KREF opened at $11.26 on Monday. KKR Real Estate Finance Trust Inc. has a 12-month low of $8.71 and a 12-month high of $14.12. The firm has a market capitalization of $783.39 million, a price-to-earnings ratio of -37.53 and a beta of 0.99. The company has a current ratio of 277.63, a quick ratio of 277.63 and a debt-to-equity ratio of 3.75. The firm has a 50 day moving average of $11.98 and a 200 day moving average of $10.81.

KKR Real Estate Finance Trust (NYSE:KREF) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The firm had revenue of $140.15 million during the quarter, compared to the consensus estimate of $39.52 million. KKR Real Estate Finance Trust had a net margin of 0.40% and a return on equity of 9.46%. During the same quarter in the previous year, the firm posted $0.47 EPS. On average, research analysts anticipate that KKR Real Estate Finance Trust Inc. will post 1.4 earnings per share for the current year.

KKR Real Estate Finance Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.88%. The ex-dividend date of this dividend was Monday, September 30th. KKR Real Estate Finance Trust’s dividend payout ratio (DPR) is currently -333.33%.

KKR Real Estate Finance Trust Company Profile

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.