8-K Announcements
6Apr 22, 2026·SEC
Apr 16, 2026·SEC
Feb 3, 2026·SEC
KKR Real Estate Finance Trust Inc. (KREF) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
KKR Real Estate Finance Trust Inc. (KREF) stock price & volume — 10-year historical chart
KKR Real Estate Finance Trust Inc. (KREF) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
KKR Real Estate Finance Trust Inc. (KREF) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 22, 2026 | $0.06vs $0.15-139.8% | $35Mvs $28M+23.0% |
| Q1 2026 | Feb 3, 2026 | $0.22vs $0.13+69.2% | $33Mvs $30M+9.2% |
| Q4 2025 | Oct 21, 2025 | $0.03vs $0.01-400.0% | $25Mvs $26M-2.8% |
| Q3 2025 | Jul 22, 2025 | $0.53vs $0.16-231.3% | $119Mvs $32M+267.3% |
KKR Real Estate Finance Trust Inc. (KREF) competitors in Commercial mortgage loan REITs — business model, growth, and fundamentals comparison
KKR Real Estate Finance Trust Inc. (KREF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
KKR Real Estate Finance Trust Inc. (KREF) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 84.11M | 198.01M | 275.76M | 269.93M | 285.76M | 436.51M | 660.19M | 592.62M | 457.96M | 441.66M |
| Revenue Growth % | 153.61% | 135.42% | 39.26% | -2.12% | 5.86% | 52.75% | 51.24% | -10.24% | -22.72% | -20.03% |
| Property Operating Expenses | 13.49M | 21.1M | 20.41M | 23.77M | 29.65M | 37.43M | 39.85M | 49.6M | 53.56M | 56.9M |
| Net Operating Income (NOI) | 70.62M▲ 0% | 176.91M▲ 150.5% | 255.36M▲ 44.3% | 246.17M▼ 3.6% | 256.11M▲ 4.0% | 399.08M▲ 55.8% | 620.34M▲ 55.4% | 543.02M▼ 12.5% | 404.4M▼ 25.5% | 384.76M▲ 0% |
| NOI Margin % | 83.96% | 89.34% | 92.6% | 91.2% | 89.62% | 91.43% | 93.96% | 91.63% | 88.3% | 87.12% |
| Operating Expenses | 10.31M | 5.22M | 10.52M | 64.58M | 10.18M | 129.99M | 193.9M | 97.05M | 132.76M | 172.92M |
| G&A Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 40.74M | 13.91M |
| EBITDA | 82.41M | 174.75M | 249.4M | 182.12M | 252.31M | 273.75M | 427.86M | 446.95M | 274.24M | 139.51M |
| EBITDA Margin % | 97.97% | 88.25% | 90.44% | 67.47% | 88.29% | 62.71% | 64.81% | 75.42% | 59.88% | 31.59% |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 983K | 2.6M | 2.11M |
| D&A / Revenue % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.17% | 0.57% | 0.48% |
| Operating Income | 60.31M▲ 0% | 171.69M▲ 184.7% | 244.84M▲ 42.6% | 181.58M▼ 25.8% | 245.94M▲ 35.4% | 269.09M▲ 9.4% | 426.44M▲ 58.5% | 445.97M▲ 4.6% | 271.64M▼ 39.1% | 211.84M▲ 0% |
| Operating Margin % | 71.7% | 86.71% | 88.78% | 67.27% | 86.06% | 61.65% | 64.59% | 75.25% | 59.31% | 47.96% |
| Interest Expense | 21.22M | 85.02M | 158.86M | 127.31M | 114.44M | 236.09M | 458.8M | 412.91M | 322.96M | 4M |
| Interest Coverage | 3.88x | 2.06x | 1.57x | 1.43x | 2.20x | 1.16x | 0.93x | 1.08x | 0.84x | - |
| Non-Operating Income | -22.1M | -3.06M | -4.57M | -537K | -6.37M | -4.66M | -1.42M | -1.52M | -678K | 3.84M |
| Pretax Income | 61.18M▲ 0% | 89.74M▲ 46.7% | 90.54M▲ 0.9% | 54.81M▼ 39.5% | 137.87M▲ 151.5% | 37.65M▼ 72.7% | -30.95M▼ 182.2% | 34.58M▲ 211.7% | -50.65M▼ 246.5% | -102.06M▲ 0% |
| Pretax Margin % | 72.74% | 45.32% | 32.83% | 20.3% | 48.25% | 8.63% | -4.69% | 5.83% | -11.06% | -23.11% |
| Income Tax | 1.1M | -70K | 579K | 412K | 684K | 58K | 710K | 248K | -156K | 4.57M |
| Effective Tax Rate % | 1.8% | -0.08% | 0.64% | 0.75% | 0.5% | 0.15% | -2.29% | 0.72% | 0.31% | -4.47% |
| Net Income | 59.06M▲ 0% | 89.74M▲ 51.9% | 89.97M▲ 0.2% | 54.4M▼ 39.5% | 137.18M▲ 152.2% | 38.1M▼ 72.2% | -30.85M▼ 181.0% | 35.59M▲ 215.4% | -47.05M▼ 232.2% | -104.07M▲ 0% |
| Net Margin % | 70.22% | 45.32% | 32.62% | 20.15% | 48.01% | 8.73% | -4.67% | 6.01% | -10.27% | -23.56% |
| Net Income Growth % | 89.56% | 51.95% | 0.25% | -39.54% | 152.19% | -72.22% | -180.97% | 215.36% | -232.2% | -407.56% |
| Funds From Operations (FFO) | 62.2M▲ 0% | 98.33M▲ 58.1% | 89.97M▼ 8.5% | 54.4M▼ 39.5% | 137.18M▲ 152.2% | 38.1M▼ 72.2% | -30.85M▼ 181.0% | 36.57M▲ 218.6% | -44.45M▼ 221.5% | -98.41M▲ 0% |
| FFO Margin % | 73.95% | 49.66% | 32.62% | 20.15% | 48.01% | 8.73% | -4.67% | 6.17% | -9.71% | -22.28% |
| FFO Growth % | - | 58.08% | - | - | - | - | - | - | -221.53% | -1146.54% |
| FFO per Share | 1.37 | 1.78 | 1.56 | 0.97 | 2.42 | 0.56 | -0.45 | 0.53 | -0.67 | -1.52 |
| FFO Payout Ratio % | 81.31% | 90.35% | 109.99% | 177.31% | 69.75% | 302.77% | -385.25% | 223.65% | -150.43% | -50.48% |
| EPS (Diluted) | 1.30▲ 0% | 1.63▲ 25.4% | 1.57▼ 3.7% | 0.96▼ 38.9% | 2.21▲ 130.2% | 0.23▼ 89.6% | -0.78▼ 439.1% | 0.19▲ 124.4% | -1.05▼ 652.6% | -1.61▲ 0% |
| EPS Growth % | 116.67% | 25.38% | -3.68% | -38.85% | 130.21% | -89.59% | -439.13% | 124.36% | -652.63% | -1262.5% |
| EPS (Basic) | 1.30 | 1.63 | 1.58 | 0.96 | 2.22 | 0.23 | -0.78 | 0.19 | -1.05 | - |
| Diluted Shares Outstanding | 45.32M | 55.17M | 57.53M | 56.06M | 56.78M | 67.55M | 69.18M | 69.4M | 66.81M | 64.67M |
KKR Real Estate Finance Trust Inc. (KREF) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 7.39B | 5.23B | 5.06B | 4.97B | 6.7B | 7.8B | 7.55B | 6.35B | 6.46B | 6.95B |
| Asset Growth % | 18.03% | -29.25% | -3.34% | -1.81% | 34.99% | 16.4% | -3.26% | -15.86% | 1.8% | -0.8% |
| Real Estate & Other Assets | 1.89B | 4B | 4.94B | 4.81B | 6.38B | 7.48B | 7.32B | 6.1B | 5.66B | 5.33B |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Total Current Assets | 116.54M | 102.71M | 83.92M | 126.24M | 286.73M | 278.8M | 176.9M | 133.69M | 109.82M | 135.44M |
| Cash & Equivalents | 103.52M | 86.53M | 67.62M | 110.83M | 271.49M | 239.79M | 135.9M | 104.93M | 84.62M | 135.44M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -33.21M |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 6.33B | 4.1B | 3.93B | 3.92B | 5.34B | 6.23B | 6.14B | 4.95B | 5.24B | 5.8B |
| Total Debt | 6.22B | 3.97B | 3.83B | 3.81B | 5.29B | 6.16B | 6.06B | 4.9B | 4.69B | 4.5B |
| Net Debt | 6.12B | 3.88B | 3.76B | 3.7B | 5.02B | 5.92B | 5.92B | 4.79B | 4.61B | 4.36B |
| Long-Term Debt | 6.22B | 3.61B | 3.05B | 2.92B | 3.69B | 5.66B | 4.26B | 4.55B | 4.35B | 3.7B |
| Short-Term Borrowings | 0 | 360.65M | 777.75M | 895.73M | 1.61B | 505.95M | 1.8B | 348.51M | 344.46M | 798.95M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 360.65M | 777.75M | 895.73M | 1.61B | 505.95M | 1.8B | 348.51M | 344.46M | 798.95M |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 109.98M | 127.32M | 105.97M | 106.97M | 46.69M | 66.54M | 83.52M | 52.89M | 545.9M | 1.3B |
| Total Equity | 1.06B▲ 0% | 1.14B▲ 6.8% | 1.12B▼ 1.0% | 1.05B▼ 7.0% | 1.36B▲ 30.2% | 1.57B▲ 15.4% | 1.4B▼ 10.6% | 1.4B▼ 0.4% | 1.23B▼ 12.4% | 1.15B▲ 0% |
| Equity Growth % | 109.26% | 6.77% | -1.01% | -6.97% | 30.24% | 15.41% | -10.64% | -0.38% | -12.42% | -47.17% |
| Shareholders Equity | 1.06B | 1.14B | 1.12B | 1.05B | 1.36B | 1.57B | 1.4B | 1.35B | 1.17B | 1.1B |
| Minority Interest | 3.09M | 0 | 0 | 0 | 147K | -102K | -585K | 53.85M | 52.65M | 57.24M |
| Common Stock | 537K | 576K | 575K | 556K | 613K | 691K | 693K | 686K | 644K | 643K |
| Additional Paid-in Capital | 1.05B | 1.16B | 1.17B | 1.17B | 1.29B | 1.48B | 1.49B | 1.39B | 1.36B | 1.35B |
| Retained Earnings | 6.28M | -225K | -8.59M | -65.7M | -38.21M | -141.5M | -314.37M | -370.47M | -506.13M | -584.08M |
| Preferred Stock | 949K | 2.85M | 1.69M | 1.85M | 172.5M | 327.75M | 327.75M | 327.75M | 327.75M | 131K |
| Return on Assets (ROA) | 0.86% | 1.42% | 1.75% | 1.09% | 2.35% | 0.53% | -0.4% | 0.51% | -0.73% | -1.56% |
| Return on Equity (ROE) | 7.52% | 8.16% | 7.97% | 5.02% | 11.4% | 2.6% | -2.07% | 2.54% | -3.59% | -8.4% |
| Debt / Assets | 84.14% | 75.87% | 75.68% | 76.79% | 78.99% | 79.01% | 80.29% | 77.14% | 72.6% | 64.73% |
| Debt / Equity | 5.85x | 3.50x | 3.41x | 3.65x | 3.89x | 3.92x | 4.32x | 3.50x | 3.83x | 3.83x |
| Net Debt / EBITDA | 74.25x | 22.22x | 15.07x | 20.33x | 19.91x | 21.64x | 13.85x | 10.73x | 16.81x | 16.81x |
| Book Value per Share | 23.46 | 20.58 | 19.53 | 18.65 | 23.98 | 23.26 | 20.30 | 20.16 | 18.34 | 17.83 |
KKR Real Estate Finance Trust Inc. (KREF) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 53.8M | 76.83M | 91.71M | 115.06M | 124.79M | 141.13M | 155.72M | 132.56M | 72.28M | 72.28M |
| Operating CF Growth % | 111.76% | 42.8% | 19.37% | 25.46% | 8.46% | 13.09% | 10.34% | -14.87% | -45.47% | -119.45% |
| Operating CF / Revenue % | 63.96% | 38.8% | 33.26% | 42.63% | 43.67% | 32.33% | 23.59% | 22.37% | 15.78% | 16.37% |
| Net Income | 60.08M | 89.81M | 89.97M | 54.4M | 137.18M | 37.59M | -31.66M | 34.33M | -50.49M | -104.07M |
| Depreciation & Amortization | 3.14M | 8.59M | 0 | 0 | 0 | 0 | 0 | 983K | 2.6M | 5.66M |
| Stock-Based Compensation | 65K | 1.97M | 4.09M | 5.68M | 7.43M | 7.83M | 8.07M | 8.26M | 7.93M | 7.61M |
| Other Non-Cash Items | -3.38M | 2.56M | -2.18M | 54.06M | -21.55M | 107.98M | 179.47M | 78.93M | 117.25M | 161.42M |
| Working Capital Changes | -775K | -1.17M | -159K | 932K | 1.73M | -12.29M | -177K | 10.06M | -5M | -3.28M |
| Cash from Investing | -1.08B | -2B | -926.31M | 88.71M | -1.54B | -1.18B | 13.49M | 1.12B | 264.29M | 734.23M |
| Acquisitions (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchase of Investments | -1.2B | -15.61M | -94.01M | 0 | 0 | 0 | 0 | -2.38M | -33.52M | -59.94M |
| Sale of Investments | 37.31M | 99.75M | 94.07M | 0 | 1.3M | 0 | 1.29M | 0 | 0 | 0 |
| Other Investing | 80.79M | -2.1B | -926.38M | 88.71M | -1.54B | -1.18B | 14.06M | 1.13B | 303.39M | 798.47M |
| Cash from Financing | 1.04B | 1.9B | 815.69M | -160.56M | 1.58B | 1.01B | -271.51M | -1.29B | -355.78M | -773.74M |
| Dividends Paid | -50.72M | -89.23M | -99.55M | -97.08M | -103.95M | -136.91M | -140.16M | -103.1M | -88.16M | -81.75M |
| Common Dividends | -50.58M | -88.85M | -98.95M | -96.45M | -95.68M | -115.37M | -118.85M | -81.8M | -66.86M | -49.68M |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | -1000K | -2M |
| Share Repurchases | -648K | -31.35M | -4.11M | -25.06M | 0 | -35.79M | 0 | -10.03M | -43.41M | -34.34M |
| Other Financing | 564.52M | -31.29M | -13.7M | -13.52M | -30.42M | -36.65M | -7.47M | -8.25M | -24.65M | -10.98M |
| Net Change in Cash | 7.17M▲ 0% | -16.99M▼ 336.8% | -18.91M▼ 11.3% | 43.21M▲ 328.5% | 162.94M▲ 277.1% | -23.15M▼ 114.2% | -102.31M▼ 342.0% | -41.77M▲ 59.2% | -19.21M▲ 54.0% | 30M▲ 0% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 96.35M | 103.52M | 86.53M | 67.62M | 110.83M | 273.77M | 250.62M | 148.31M | 106.55M | 87.34M |
| Cash at End | 103.52M | 86.53M | 67.62M | 110.83M | 273.77M | 250.62M | 148.31M | 106.55M | 87.34M | 137.34M |
| Free Cash Flow | 53.8M▲ 0% | 76.83M▲ 42.8% | 91.71M▲ 19.4% | 115.06M▲ 25.5% | 124.79M▲ 8.5% | 139.46M▲ 11.8% | 153.85M▲ 10.3% | 124.46M▼ 19.1% | 66.7M▼ 46.4% | 65.21M▲ 0% |
| FCF Growth % | 115.63% | 42.8% | 19.37% | 25.46% | 8.46% | 11.76% | 10.32% | -19.11% | -46.41% | -38.89% |
| FCF / Revenue % | 63.96% | 38.8% | 33.26% | 42.63% | 43.67% | 31.95% | 23.3% | 21% | 14.56% | 14.76% |
KKR Real Estate Finance Trust Inc. (KREF) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 1.37 | 1.78 | 1.56 | 0.97 | 2.42 | 0.56 | -0.45 | 0.53 | -0.67 | -1.52 |
| FFO Payout Ratio | 81.31% | 90.35% | 109.99% | 177.31% | 69.75% | 302.77% | -385.25% | 223.65% | -150.43% | -50.48% |
| NOI Margin | 83.96% | 89.34% | 92.6% | 91.2% | 89.62% | 91.43% | 93.96% | 91.63% | 88.3% | 87.12% |
| Net Debt / EBITDA | 74.25x | 22.22x | 15.07x | 20.33x | 19.91x | 21.64x | 13.85x | 10.73x | 16.81x | 16.81x |
| Debt / Assets | 84.14% | 75.87% | 75.68% | 76.79% | 78.99% | 79.01% | 80.29% | 77.14% | 72.6% | 64.73% |
| Interest Coverage | 3.88x | 2.06x | 1.57x | 1.43x | 2.20x | 1.16x | 0.93x | 1.08x | 0.84x | - |
| Book Value / Share | 23.46 | 20.58 | 19.53 | 18.65 | 23.98 | 23.26 | 20.3 | 20.16 | 18.34 | 17.83 |
| Revenue Growth | 153.61% | 135.42% | 39.26% | -2.12% | 5.86% | 52.75% | 51.24% | -10.24% | -22.72% | -20.03% |
KKR Real Estate Finance Trust Inc. (KREF) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 22, 2026·SEC
Apr 16, 2026·SEC
Feb 3, 2026·SEC
KKR Real Estate Finance Trust Inc. (KREF) stock FAQ — growth, dividends, profitability & financials explained
KKR Real Estate Finance Trust Inc. (KREF) reported $441.7M in revenue for fiscal year 2025. This represents a 62994% increase from $0.7M in 2014.
KKR Real Estate Finance Trust Inc. (KREF) saw revenue decline by 22.7% over the past year.
KKR Real Estate Finance Trust Inc. (KREF) reported a net loss of $104.1M for fiscal year 2025.
Yes, KKR Real Estate Finance Trust Inc. (KREF) pays a dividend with a yield of 15.23%. This makes it attractive for income-focused investors.
KKR Real Estate Finance Trust Inc. (KREF) has a return on equity (ROE) of -3.6%. Negative ROE indicates the company is unprofitable.
KKR Real Estate Finance Trust Inc. (KREF) generated Funds From Operations (FFO) of $-98.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.
KKR Real Estate Finance Trust Inc. (KREF) offers a 15.23% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
KKR Real Estate Finance Trust Inc. (KREF) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates