KKR Real Estate Finance price target lowered to $12 from $13 at Citizens JMP

Citizens JMP lowered the firm’s price target on KKR Real Estate Finance (KREF) to $12 from $13 and keeps an Outperform rating on the shares. While Q1 GAAP earnings were negatively impacted by a $25M additional current expected credit loss loan loss provision, distributable EPS was well above consensus, the analyst tells investors in a research note. The firm notes that its price target offers a potential total return of 40%, with price appreciation of 29.3% and a cash dividend yield of 10.8%.