Analyst Tom Catherwood of BTIG maintained a Buy rating on Kkr Real Estate Finance (KREF – Research Report), with a price target of $13.00.
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Tom Catherwood has given his Buy rating due to a combination of factors that indicate positive momentum for KKR Real Estate Finance. Despite facing a challenging fourth quarter with realized losses, KREF demonstrated strong distributable earnings, which comfortably covered the quarterly dividend. The company’s ability to maintain a high interest collection rate on its portfolio and manage its leverage effectively also contributed to the favorable outlook.
Further supporting the Buy rating is KREF’s announcement of significant new loan commitments in January 2025, which exceeded previous expectations. This development is seen as a promising sign of renewed deal activity, particularly given the lack of loan originations in the preceding quarter. Additionally, the company’s strategic handling of its San Carlos life science loan and the reduction in its watchlist loans suggest a proactive approach to managing risk. These elements collectively underpin the optimistic view of KREF’s future performance.
In another report released on January 21, JMP Securities also reiterated a Buy rating on the stock with a $13.00 price target.