KREF
KKR Real Estate Finance Trust Inc.
REIT - Mortgage
Market Cap$425M
5Y Perf.-59.2%
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Stock Comparison
KREF vs GPMT
Revenue, margins, valuation, and 5-year total return — side by side.
GPMT
Granite Point Mortgage Trust Inc.
REIT - Mortgage
Market Cap$70M
5Y Perf.-70.1%
KREF vs GPMT — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | KREF | GPMT |
|---|---|---|
| Industry | REIT - Mortgage | REIT - Mortgage |
| Market Cap | $425M | $70M |
| Revenue (TTM) | $442M | $132M |
| Net Income (TTM) | $-104M | $-40M |
| Gross Margin | 87.1% | 47.3% |
| Operating Margin | 48.0% | -4.3% |
| Total Debt | $4.69B | $1.17B |
| Cash & Equiv. | $85M | $66M |
KREF vs GPMT — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
KREF
GPMT
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| KKR Real Estate Fin… (KREF) | 100 | 40.8 | -59.2% |
| Granite Point Mortg… (GPMT) | 100 | 29.9 | -70.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: KREF vs GPMT
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: KREF leads in 6 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Granite Point Mortgage Trust Inc. is the stronger pick specifically for growth and revenue expansion. As sector peers, any of these can serve as alternatives in the same allocation.
KREF
KKR Real Estate Finance Trust Inc.
The Real Estate Income Play
KREF carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 0 yrs, beta 0.86, yield 15.1%
- -9.0% 10Y total return vs GPMT's -50.4%
- Lower volatility, beta 0.86, current ratio 0.32x
Best for: income & stability and long-term compounding
GPMT
Granite Point Mortgage Trust Inc.
The Real Estate Income Play
GPMT is the clearest fit if your priority is growth exposure.
- Rev growth 187.8%, EPS growth 73.7%, 3Y rev CAGR 22.9%
- 187.8% FFO/revenue growth vs KREF's -22.7%
Best for: growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | GPMT | 187.8% FFO/revenue growth vs KREF's -22.7% |
| Value | KREF | Better valuation composite |
| Quality / Margins | KREF | -23.6% margin vs GPMT's -30.5% |
| Stability / Safety | KREF | Beta 0.86 vs GPMT's 1.42 |
| Dividends | KREF | 15.1% yield, vs GPMT's 14.7% |
| Momentum (1Y) | KREF | -17.5% vs GPMT's -23.4% |
| Efficiency (ROA) | KREF | -1.6% ROA vs GPMT's -2.3%, ROIC 3.4% vs 2.6% |
KREF vs GPMT — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLKREFLAGGINGGPMT
GPMTGranite Point Mortgag…
1leads
KREFKKR Real Estate Finan…
5leads
6 Total Categories
CATEGORYLEADERvs GPMTMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
KREF4/6
Valuation MetricsMultiples, price ratios, and targets
KREF3/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
GPMT6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
KREF6/6
Risk & VolatilityBeta, volatility, and downside exposure
KREF2/2
Analyst OutlookRatings, price targets, and dividends
KREF1/1
Income & Cash Flow (Last 12 Months)
KREF leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
KREF is the larger business by revenue, generating $442M annually — 3.4x GPMT's $132M. KREF is the more profitable business, keeping -23.6% of every revenue dollar as net income compared to GPMT's -30.5%. On growth, GPMT holds the edge at +157.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | KREFKKR Real Estate F… | GPMTGranite Point Mor… |
|---|---|---|
| RevenueTrailing 12 months | $442M | $132M |
| EBITDAEarnings before interest/tax | $140M | -$8M |
| Net IncomeAfter-tax profit | -$104M | -$40M |
| Free Cash FlowCash after capex | $65M | $463,000 |
| Gross MarginGross profit ÷ Revenue | +87.1% | +47.3% |
| Operating MarginEBIT ÷ Revenue | +48.0% | -4.3% |
| Net MarginNet income ÷ Revenue | -23.6% | -30.5% |
| FCF MarginFCF ÷ Revenue | +14.8% | +0.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | -13.8% | +157.8% |
| EPS Growth (YoY)Latest quarter vs prior year | -5.4% | +40.9% |
KREF leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
KREF leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, KREF's 18.4x EV/EBITDA is more attractive than GPMT's 20.7x.
| Metric | KREFKKR Real Estate F… | GPMTGranite Point Mor… |
|---|---|---|
| Market CapShares × price | $425M | $70M |
| Enterprise ValueMkt cap + debt − cash | $5.0B | $1.2B |
| Trailing P/EPrice ÷ TTM EPS | -6.30x | -1.27x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 18.36x | 20.68x |
| Price / SalesMarket cap ÷ Revenue | 0.93x | 0.48x |
| Price / BookPrice ÷ Book value/share | 0.36x | 0.13x |
| Price / FCFMarket cap ÷ FCF | 6.37x | 26.41x |
KREF leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
GPMT leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
GPMT delivers a -7.1% return on equity — every $100 of shareholder capital generates $-7 in annual profit, vs $-8 for KREF. GPMT carries lower financial leverage with a 2.12x debt-to-equity ratio, signaling a more conservative balance sheet compared to KREF's 3.83x. On the Piotroski fundamental quality scale (0–9), GPMT scores 6/9 vs KREF's 4/9, reflecting solid financial health.
| Metric | KREFKKR Real Estate F… | GPMTGranite Point Mor… |
|---|---|---|
| ROE (TTM)Return on equity | -8.4% | -7.1% |
| ROA (TTM)Return on assets | -1.6% | -2.3% |
| ROICReturn on invested capital | +3.4% | +2.6% |
| ROCEReturn on capital employed | +4.5% | +4.6% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 |
| Debt / EquityFinancial leverage | 3.83x | 2.12x |
| Net DebtTotal debt minus cash | $4.6B | $1.1B |
| Cash & Equiv.Liquid assets | $85M | $66M |
| Total DebtShort + long-term debt | $4.7B | $1.2B |
| Interest CoverageEBIT ÷ Interest expense | 0.84x | 0.58x |
GPMT leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
KREF leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in KREF five years ago would be worth $6,432 today (with dividends reinvested), compared to $3,518 for GPMT. Over the past 12 months, KREF leads with a -17.5% total return vs GPMT's -23.4%. The 3-year compound annual growth rate (CAGR) favors KREF at -0.1% vs GPMT's -13.9% — a key indicator of consistent wealth creation.
| Metric | KREFKKR Real Estate F… | GPMTGranite Point Mor… |
|---|---|---|
| YTD ReturnYear-to-date | -17.1% | -35.9% |
| 1-Year ReturnPast 12 months | -17.5% | -23.4% |
| 3-Year ReturnCumulative with dividends | -0.4% | -36.3% |
| 5-Year ReturnCumulative with dividends | -35.7% | -64.8% |
| 10-Year ReturnCumulative with dividends | -9.0% | -50.4% |
| CAGR (3Y)Annualised 3-year return | -0.1% | -13.9% |
KREF leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
KREF leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
KREF is the less volatile stock with a 0.86 beta — it tends to amplify market swings less than GPMT's 1.42 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. KREF currently trades 66.2% from its 52-week high vs GPMT's 47.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | KREFKKR Real Estate F… | GPMTGranite Point Mor… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.86x | 1.42x |
| 52-Week HighHighest price in past year | $9.98 | $3.12 |
| 52-Week LowLowest price in past year | $5.29 | $1.24 |
| % of 52W HighCurrent price vs 52-week peak | +66.2% | +47.1% |
| RSI (14)Momentum oscillator 0–100 | 54.7 | 54.4 |
| Avg Volume (50D)Average daily shares traded | 1.5M | 152K |
KREF leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
KREF leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates KREF as "Buy" and GPMT as "Hold". Consensus price targets imply 70.1% upside for GPMT (target: $3) vs 5.9% for KREF (target: $7). For income investors, KREF offers the higher dividend yield at 15.14% vs GPMT's 14.74%.
| Metric | KREFKKR Real Estate F… | GPMTGranite Point Mor… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $7.00 | $2.50 |
| # AnalystsCovering analysts | 12 | 12 |
| Dividend YieldAnnual dividend ÷ price | +15.1% | +14.7% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $1.00 | $0.22 |
| Buyback YieldShare repurchases ÷ mkt cap | +10.2% | +8.0% |
KREF leads this category, winning 1 of 1 comparable metric.
Key Takeaway
KREF leads in 5 of 6 categories (Income & Cash Flow, Valuation Metrics). GPMT leads in 1 (Profitability & Efficiency).
Best OverallKKR Real Estate Finance Tru… (KREF)Leads 5 of 6 categories
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KREF vs GPMT: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is KREF or GPMT a better buy right now?
For growth investors, Granite Point Mortgage Trust Inc.
(GPMT) is the stronger pick with 187. 8% revenue growth year-over-year, versus -22. 7% for KKR Real Estate Finance Trust Inc. (KREF). Analysts rate KKR Real Estate Finance Trust Inc. (KREF) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — KREF or GPMT?
Over the past 5 years, KKR Real Estate Finance Trust Inc.
(KREF) delivered a total return of -35. 7%, compared to -64. 8% for Granite Point Mortgage Trust Inc. (GPMT). Over 10 years, the gap is even starker: KREF returned -9. 0% versus GPMT's -50. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — KREF or GPMT?
By beta (market sensitivity over 5 years), KKR Real Estate Finance Trust Inc.
(KREF) is the lower-risk stock at 0. 86β versus Granite Point Mortgage Trust Inc. 's 1. 42β — meaning GPMT is approximately 65% more volatile than KREF relative to the S&P 500. On balance sheet safety, Granite Point Mortgage Trust Inc. (GPMT) carries a lower debt/equity ratio of 2% versus 4% for KKR Real Estate Finance Trust Inc. — giving it more financial flexibility in a downturn.
04Which is growing faster — KREF or GPMT?
By revenue growth (latest reported year), Granite Point Mortgage Trust Inc.
(GPMT) is pulling ahead at 187. 8% versus -22. 7% for KKR Real Estate Finance Trust Inc. (KREF). On earnings-per-share growth, the picture is similar: Granite Point Mortgage Trust Inc. grew EPS 73. 7% year-over-year, compared to -652. 6% for KKR Real Estate Finance Trust Inc.. Over a 3-year CAGR, GPMT leads at 22. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — KREF or GPMT?
KKR Real Estate Finance Trust Inc.
(KREF) is the more profitable company, earning -10. 3% net margin versus -28. 3% for Granite Point Mortgage Trust Inc. — meaning it keeps -10. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: KREF leads at 59. 3% versus 43. 6% for GPMT. At the gross margin level — before operating expenses — KREF leads at 88. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — KREF or GPMT?
All stocks in this comparison pay dividends.
KKR Real Estate Finance Trust Inc. (KREF) offers the highest yield at 15. 1%, versus 14. 7% for Granite Point Mortgage Trust Inc. (GPMT).
07Is KREF or GPMT better for a retirement portfolio?
For long-horizon retirement investors, KKR Real Estate Finance Trust Inc.
(KREF) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 86), 15. 1% yield). Both have compounded well over 10 years (KREF: -9. 0%, GPMT: -50. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between KREF and GPMT?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: KREF is a small-cap income-oriented stock; GPMT is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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