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KREF
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KREFKKR Real Estate Finance Trust Inc.
$5.66$364M
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
$5.66
At close - Nov 6, 4:00 PM EST - USD
Market Cap$364M
P/E-1.6x
52W High$9.11
Volume714.12K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Shrinking Loan Book Strains Dividend Coverage and Equity Base

KREF's reported revenue fell from $155.9M in 2024Q2 to $78.6M in 2026Q3, a decline of roughly 50% that suggests a contracting interest-earning base rather than a temporary dip.

GrowthDecelerating
ProfitabilityWeak
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

KREF price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
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

-107% Peers

P/E is 107% below peer median

03

Market leadership

RS 33 · Lag

Laggard (Underperforming 67% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Jan 28

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
KREF-26.21%
S&P 500 (^GSPC)+7.63%
1-Year Return
KREF-18.36%
S&P 500 (^GSPC)+9.69%
3-Year Return
KREF-26.51%
S&P 500 (^GSPC)+68.02%
5-Year Return
KREF-44.97%
S&P 500 (^GSPC)+56.27%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-1.6x
Forward P/E
N/A
EV/EBITDA100th %ile
69.4x
FCF YieldCash Flow
12.2%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-1.6x
53.2x
0th· Low
EV/EBITDA
69.4x
18.8x
100th· High
Price/FCF
8.2x
6.8x
60th· Fair
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 FY25
$458M-22.7% YoY
Net income FY25
-$47M-232.2% YoY
Free cash flow FY25
$67M-46.4% YoY
Operating margin FY25
59.3%-15.9 pts YoY
ROIC (FY25)3.4%
Avg ROIC 5Y3.8%
ROE (TTM)-18.4%
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)
Q4 2026Latest
Oct 28, 2026
-$0.11+64.0%
vs -$0.31
$25M+33.3%
vs $18M
Q3 2026
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
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Business Wire·Oct 28, 2026
KKR Real Estate Finance Trust Inc. Reports Third Quarter 2026 Results

NEW YORK--(BUSINESS WIRE)--KKR Real Estate Finance Trust Inc. (“KREF”) (NYSE: KREF) today reported its third quarter 2026 results, which have been posted to the Investor Relations section of KREF's website at http://www.kkrreit.com/investor-relations/events-and-presentations. A conference call to discuss KREF's financial results will be held on Thursday, October 29, 2026 at 11:00 a.m. ET. The conference call may be accessed by dialing (800) 715-9871 (U.S. callers) or (646) 307-1963 (non-U.S. ca.

Business Wire·Oct 20, 2026
KKR Real Estate Finance Trust Inc. Declares Preferred Stock Dividend

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 $0.40625 per each issued and outstanding share of the Company's 6.50% Series A Cumulative Redeemable Preferred Stock, which represents an annual dividend of $1.625 per share. The dividend is payable on December 15, 2026 to KREF's preferred stockholders of record as of November 30, 2026. About KKR Real Estate Finance Trust Inc. KREF.

Business Wire·Oct 14, 2026
KKR Real Estate Finance Trust Inc. to Announce Third Quarter 2026 Results

NEW YORK--(BUSINESS WIRE)--KKR Real Estate Finance Trust Inc. (“KREF”) (NYSE: KREF) announced today that it plans to release its financial results for the third quarter 2026 on Wednesday, October 28, 2026, after the close of trading on the New York Stock Exchange. A conference call to discuss KREF's financial results will be held on Thursday, October 29, 2026 at 11:00 a.m. ET. The conference call may be accessed by dialing (800) 715-9871 (U.S. callers) or (646) 307-1963 (non-U.S. callers toll);.

Defense World·Sep 28, 2026
KKR Real Estate Finance Trust (NYSE:KREF) Declares Quarterly Dividend of $0.10

KKR Real Estate Finance Trust (NYSE: KREF - Get Free Report) declared a quarterly dividend on Friday, September 18th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.10 per share on Thursday, October 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend

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
$5.66$363.94M-1.63-22.72%-52.69%-18.4%17.68%
BXMT logoBXMTBlackstone Mortgage Trust, Inc.
$11.16$1.88B-5.00-13.96%-24.87%-11.52%16.92%
STWD logoSTWDStarwood Property Trust, Inc.
$12.05$4.47B-18.86-7.88%-11.27%-3.28%16.46%
RC logoRCReady Capital Corporation
$0.85$140.72M-0.241725.96%-228.91%-42.2%79.55%
GPMT logoGPMTGranite Point Mortgage Trust Inc.
$3.34$16.1M-0.11-25.45%-131.14%-28.29%64.86%
TRTX logoTRTXTPG RE Finance Trust, Inc.
$6.75$518.19M11.37-5.23%13.13%4.33%14.64%

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

Oct 28, 2026·SEC

Material company update

Jul 21, 2026·SEC

Material company update

Apr 22, 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

Oct 28, 2026·SEC

FY 2026

Jul 21, 2026·SEC

FY 2026

Apr 22, 2026·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 $378.9M in revenue over the trailing twelve months. Revenue was $458.0M in fiscal year 2025. That is 65323% more than the $0.7M of fiscal year 2014.

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

KKR Real Estate Finance Trust Inc. (KREF) revenue fell by 20.9% over the trailing twelve months, compared with the twelve months before.

Is KREF profitable?

No. KKR Real Estate Finance Trust Inc. (KREF) reported a net loss of $199.7M over the trailing twelve months.

Dividend & Returns
Does KREF pay dividends?

Yes. KKR Real Estate Finance Trust Inc. (KREF) pays a dividend that yields 17.68% at the current price, a high yield.

What is KREF's return on equity?

KKR Real Estate Finance Trust Inc. (KREF) had a return on equity (ROE) of -18.4% over the trailing twelve months. A negative ROE means the company lost money over the period.

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 $-195.8M 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 17.68% 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 →