Condor Capital Management Buys 103,654 Shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF)

Condor Capital Management lifted its stake in shares of KKR Real Estate Finance Trust Inc. (NYSE:KREF) by 70.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 251,273 shares of the company’s stock after purchasing an additional 103,654 shares during the period. Condor Capital Management’s holdings in KKR Real Estate Finance Trust were worth $2,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. 1776 Wealth LLC bought a new stake in KKR Real Estate Finance Trust in the 4th quarter valued at $318,000. Raymond James Financial Inc. bought a new stake in KKR Real Estate Finance Trust in the 4th quarter valued at $1,835,000. Illinois Municipal Retirement Fund raised its stake in KKR Real Estate Finance Trust by 6.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 31,711 shares of the company’s stock valued at $320,000 after acquiring an additional 1,842 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in KKR Real Estate Finance Trust in the 4th quarter valued at $159,000. Finally, Principal Financial Group Inc. raised its stake in KKR Real Estate Finance Trust by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 283,897 shares of the company’s stock valued at $2,867,000 after acquiring an additional 8,873 shares during the period. Institutional investors own 70.23% of the company’s stock.

KKR Real Estate Finance Trust Stock Performance

NYSE:KREF opened at $11.22 on Thursday. The stock has a market cap of $770.63 million, a P/E ratio of 62.31 and a beta of 0.99. The company has a current ratio of 296.16, a quick ratio of 296.16 and a debt-to-equity ratio of 3.50. The stock’s 50-day moving average is $10.75 and its 200-day moving average is $11.28. KKR Real Estate Finance Trust Inc. has a 1-year low of $8.71 and a 1-year high of $12.95.

KKR Real Estate Finance Trust (NYSE:KREF) last released its quarterly earnings results on Monday, February 3rd. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.20. KKR Real Estate Finance Trust had a return on equity of 8.53% and a net margin of 6.30%. Equities research analysts anticipate that KKR Real Estate Finance Trust Inc. will post 1.05 earnings per share for the current year.

KKR Real Estate Finance Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.92%. The ex-dividend date of this dividend is Monday, March 31st. KKR Real Estate Finance Trust’s dividend payout ratio is currently 555.56%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KREF. JPMorgan Chase & Co. dropped their price target on KKR Real Estate Finance Trust from $11.50 to $10.50 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods lowered their price objective on KKR Real Estate Finance Trust from $13.00 to $12.25 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $12.46.

About KKR Real Estate Finance Trust

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.