Fri Sep 20 08:14:48 UTC 2024: ## KKR Real Estate Finance Trust Sees “Moderate Buy” Recommendation Despite Recent Earnings Miss

**New York, NY -** KKR Real Estate Finance Trust Inc. (NYSE:KREF) has received a “Moderate Buy” recommendation from analysts, according to MarketBeat. The rating is based on seven analysts currently covering the firm, with one issuing a “Hold” and six recommending a “Buy.” The average 12-month price target among analysts is $11.64.

Despite the positive outlook, KKR Real Estate Finance Trust reported a disappointing second quarter with a loss of $1.57 per share, missing the consensus estimate of $0.30. Revenue for the quarter was $47.60 million, slightly above the consensus estimate of $45.47 million.

Despite the earnings miss, several analysts remain bullish on KREF. Keefe, Bruyette & Woods upgraded the stock to “Outperform” from “Market Perform,” raising their price target to $13.00. BTIG Research maintained a “Buy” rating with a $11.50 target price.

However, JPMorgan Chase & Co. lowered their price target from $10.00 to $9.50, though they maintain an “Overweight” rating.

KKR Real Estate Finance Trust also recently declared a quarterly dividend of $0.25 per share, payable on October 15th to investors of record on September 30th. This represents a $1.00 annualized dividend and a yield of 7.78%.

Institutional investors remain interested in KREF, with several increasing their holdings during the last quarter. Mirae Asset Global Investments, Charles Schwab Investment Management, Allianz Asset Management, Van ECK Associates, and Principal Financial Group all purchased additional shares of the company. Institutional ownership currently stands at 70.23%.

KKR Real Estate Finance Trust is a mortgage real estate investment trust (REIT) focused on originating and acquiring transitional senior loans secured by commercial real estate (CRE) assets.

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