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Apr 22, 2026·SEC
Material company update
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Feb 3, 2026·SEC
KKR Real Estate Finance Trust Inc.(KREF)Earnings, Financials & Key Ratios
KREF•NYSE•REIT / Real Estate
$7.12
Price updated Jul 7, 2026
AboutKKR Real Estate Finance Trust Inc., a mortgage real estate investment trust, focuses primarily on originating and acquiring senior loans secured by commercial real estate (CRE) assets. It engages in the origination and purchase of credit investments related to CRE, including leveraged and unleveraged commercial mortgage loans, and commercial mortgage-backed securities. The company has elected to be taxed as a real estate investment trust and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. KKR Real Estate Finance Trust Inc. was incorporated in 2014 and is headquartered in New York, New York.Show more
- Revenue$458M-22.7%
- FFO-$44M-221.5%
- FFO/Share-0.67-226.2%
- FFO Payout-150.43%-167.3%
- FFO per Share-0.67-226.2%
- NOI Margin88.3%-3.6%
- FFO Margin-9.71%-257.3%
- ROE-3.59%-241.2%
- ROA-0.73%-243.4%
KREF Price & Volume
KKR Real Estate Finance Trust Inc. (KREF) stock price & volume — 10-year historical chart
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Portfolio Stress Drives Persistent Earnings Contraction Risk
Investment Thesis • Updated 2026Q1
VerdictNegative: The company's core earnings power is obscured by a -$61.9 million net loss in 2026Q1
Growth:Contracting
Profitability:Negative
Financial:Strained
Cash Flow:Deteriorating
Primary Risk:Office loan credit impairment
Key Thesis Takeaways
- KREF faces a challenging outlook characterized by significant revenue erosion and persistent negative earnings, as evidenced by a 13.8% year-over-year revenue decline in 2026Q1.
- The company's reliance on non-cash CECL reserves and recurring negative FFO suggests that core profitability remains under severe pressure from commercial real estate loan impairments.
- Investors should remain cautious as the elevated 3.90x debt-to-equity ratio and eroding book value limit the REIT's financial flexibility in a volatile interest rate environment.
Verdict Logic
and the current 14.0% dividend yield may be unsustainable given the ongoing portfolio credit impairments.
KREF Growth Metrics
KKR Real Estate Finance Trust Inc. (KREF) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years41.74%
5 Years11.15%
3 Years1.61%
TTM-20.03%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-407.56%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-1262.5%
Return on Capital
10 Years4.24%
5 Years5.66%
3 Years6.2%
Last Year4.48%
KREF Recent Earnings
KKR Real Estate Finance Trust Inc. (KREF) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Apr 22, 2026Metric
Actual
Est
EPS
$0.06-139.8%
$0.15
Rev
$35M+23.0%
$28M
Q1 2026
Feb 3, 2026Metric
Actual
Est
EPS
$0.22+69.2%
$0.13
Rev
$33M+9.2%
$30M
Q4 2025
Oct 21, 2025Metric
Actual
Est
EPS
$0.03-400.0%
$0.01
Rev
$25M-2.8%
$26M
Q3 2025
Jul 22, 2025Metric
Actual
Est
EPS
$0.53-231.3%
$0.16
Rev
$119M+267.3%
$32M
| 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% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for KKR Real Estate Finance Trust Inc. (KREF)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $7.12 | $457.82M | -6.78 | -22.72% | -10.27% | -3.59% | 14.06% | |
| $17.15 | $2.89B | 26.80 | -13.96% | 6.75% | 2.93% | — | |
| $16.33 | $6.05B | 13.39 | -7.88% | 17.69% | 4.75% | — | |
| $1.68 | $277.57M | -1.17 | 1725.96% | -290.69% | -29.57% | — | |
| $1.44 | $69M | -1.24 | 187.77% | -30.49% | -7.1% | — | |
| $8.41 | $650.16M | 14.75 | 123.25% | 23.2% | 5.7% | — |
Compare KREF vs Peers
KKR Real Estate Finance Trust Inc. (KREF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
KREF SEC Filings & Documents
KKR Real Estate Finance Trust Inc. (KREF) SEC filings — annual & quarterly reports (10-K, 10-Q)
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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 $441.7M in revenue for fiscal year 2025. This represents a 62994% 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 $104.1M 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 14.06%. 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 $-98.4M 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 14.06% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.