Wells Fargo analyst Donald Fandetti lowered the firm’s price target on KKR Real Estate Finance (KREF) to $10 from $11 and keeps an Overweight rating on the shares. The firm cites mixed credit performance in Q3 with a 3-rated loan moving to 4-rated. Their largest loan was repaid this quarter, and the company made their first origination in Europe in Q3, Wells adds.
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