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KREFKKR Real Estate Finance Trust Inc.
$6.06$390M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
KREF logo

KKR Real Estate Finance Trust Inc.

KREF
NYSE · Mortgage REITs
$6.06
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$390M
P/E-5.8x
52W High$9.60
Volume1.1M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Accelerating Losses and Equity Erosion Signal Severe Distress

KREF's fundamental outlook is deteriorating rapidly, with revenue contracting for nine consecutive quarters and FFO deepening to -$1.85 per share in 2026Q2, indicating the core mortgage REIT business is generating significant losses. The company's equity base ...

GrowthContracting
ProfitabilityStrained
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

KREF price & volume

Price trend, volume and key moving averages

Launch Terminal
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Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

7/12 Beats

EPS beat 7 of last 12 quarters

02

Valuation risk

-132% Peers

P/E is 132% below peer median

03

Market leadership

RS 44 · Lag

Laggard (Underperforming 56% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 21

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
KREF-22.58%
S&P 500 (^GSPC)+12.39%
1-Year Return
KREF-27.26%
S&P 500 (^GSPC)+15.77%
3-Year Return
KREF-25.18%
S&P 500 (^GSPC)+69.23%
5-Year Return
KREF-41.08%
S&P 500 (^GSPC)+66.14%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-5.8x
Forward P/E
N/A
EV/EBITDA40th %ile
18.2x
FCF YieldCash Flow
17.1%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-5.8x
53.2x
0th· Low
EV/EBITDA
18.2x
18.8x
40th· Fair
Price/FCF
5.8x
6.8x
20th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue
$458M-22.7% YoY
Net income
-$47M-232.2% YoY
Free cash flow
$67M-46.4% YoY
Operating margin
59.3%-15.9 pts YoY
ROIC (TTM)3.4%
Avg ROIC 5Y-
ROE (TTM)-3.6%
Piotroski Score4 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate7/12 (58%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 21, 2026
-$0.58-3.3%
vs -$0.56
$21M-16.1%
vs $25M
Q2 2026
Apr 22, 2026
-$0.06-139.8%
vs $0.15
$35M+23.0%
vs $28M
Q1 2026
Feb 3, 2026
$0.22+69.2%
vs $0.13
$33M+9.2%
vs $30M
Q4 2025
Oct 21, 2025
-$0.03-400.0%
vs $0.01
$25M-2.8%
vs $26M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Business Wire·5d ago
KKR Real Estate Finance Trust Inc. Declares Quarterly Dividend of $0.10 Per Share of Common Stock

NEW YORK--(BUSINESS WIRE)--KKR Real Estate Finance Trust Inc. (the “Company” or “KREF”) (NYSE: KREF) announced that the Board of Directors has declared a dividend of $0.10 per share of common stock with respect to the third quarter of 2026. The dividend is payable on October 15, 2026 to KREF's common stockholders of record as of September 30, 2026. About KKR Real Estate Finance Trust Inc. KREF is a real estate finance company that focuses primarily on originating and acquiring senior loans secu.

Zacks Investment Research·6d ago
5 Cheap REITs With Dividends Above 3% to Buy on the Dip

These five cheap real estate stocks offer dividend yields above 3% and could become attractive buy-the-dip opportunities if higher interest rates spark another REIT selloff.

Defense World·Sep 15, 2026
Analyzing Adamas Trust (NASDAQ:ADAM) and KKR Real Estate Finance Trust (NYSE:KREF)

KKR Real Estate Finance Trust (NYSE: KREF - Get Free Report) and Adamas Trust (NASDAQ: ADAM - Get Free Report) are both small-cap finance companies, but which is the superior business? We will compare the two businesses based on the strength of their earnings, valuation, analyst recommendations, profitability, dividends, institutional ownership and risk. Profitability This table compares

Defense World·Aug 14, 2026
Bank of New York Mellon Corp Has $1 Million Position in KKR Real Estate Finance Trust $KREF

Bank of New York Mellon Corp lessened its holdings in shares of KKR Real Estate Finance Trust (NYSE: KREF) by 46.4% during the undefined quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,743 shares of the company's stock after selling 141,948 shares during

Filtered for KKR Real Estate Finance Trust Inc.More Headlines
04

Compare before deciding

Benchmark KREF against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for KKR Real Estate Finance Trust Inc. (KREF)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
KREF logoKREFKKR Real Estate Finance Trust Inc.Current
$6.06$389.66M-5.77-22.72%-10.27%-3.59%16.51%
BXMT logoBXMTBlackstone Mortgage Trust, Inc.
$12.57$2.12B19.64-13.96%1.19%0.45%—
STWD logoSTWDStarwood Property Trust, Inc.
$14.70$5.45B12.05-7.88%11.27%3.08%—
RC logoRCReady Capital Corporation
$1.46$241.22M-1.011725.96%-135.95%-35.22%—
GPMT logoGPMTGranite Point Mortgage Trust Inc.
$0.84$40.11M-0.72187.77%-69.23%-15.79%—
TRTX logoTRTXTPG RE Finance Trust, Inc.
$6.82$523.56M11.96-5.23%21.75%5.45%—

Compare KREF vs Peers

KKR Real Estate Finance Trust Inc. (KREF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BXMT

Most directly comparable listed peer for KREF.

Scale Benchmark

vs MS

Larger-name benchmark to compare KREF against a more recognizable public peer.

Peer Set

Compare Top 5

vs BXMT, STWD, RC, GPMT

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

KREF SEC Filings & Documents

KKR Real Estate Finance Trust Inc. (KREF) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 21, 2026·SEC

Material company update

Apr 22, 2026·SEC

Material company update

Apr 16, 2026·SEC

10-K Annual Reports

4
FY 2026

Feb 3, 2026·SEC

FY 2025

Feb 3, 2025·SEC

FY 2024

Feb 6, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Jul 21, 2026·SEC

FY 2026

Apr 22, 2026·SEC

FY 2025

Oct 21, 2025·SEC

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KREF Frequently Asked Questions

KKR Real Estate Finance Trust Inc. (KREF) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is KKR Real Estate Finance Trust Inc.'s revenue?

KKR Real Estate Finance Trust Inc. (KREF) reported $414.2M in revenue for fiscal year 2025. This represents a 59069% increase from $0.7M in 2014.

How fast is KKR Real Estate Finance Trust Inc. growing?

KKR Real Estate Finance Trust Inc. (KREF) saw revenue decline by 22.7% over the past year.

Is KREF profitable?

KKR Real Estate Finance Trust Inc. (KREF) reported a net loss of $185.0M for fiscal year 2025.

Dividend & Returns
Does KREF pay dividends?

Yes, KKR Real Estate Finance Trust Inc. (KREF) pays a dividend with a yield of 16.51%. This makes it attractive for income-focused investors.

What is KREF's return on equity?

KKR Real Estate Finance Trust Inc. (KREF) has a return on equity (ROE) of -3.6%. Negative ROE indicates the company is unprofitable.

Industry Metrics
What is KKR Real Estate Finance Trust Inc.'s FFO?

KKR Real Estate Finance Trust Inc. (KREF) generated Funds From Operations (FFO) of $-181.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is KREF a good dividend stock?

KKR Real Estate Finance Trust Inc. (KREF) offers a 16.51% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in KREF back in 2014?

Total return calculator · dividends reinvested · 12+ years of data

See returns →