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KKR Real Estate Finance Trust Inc.
KREF · Price history
Price at last available close
$5.87
−$0.34 (-5.48%) 1M
2026-10-30
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Company & revenue
About KKR Real Estate Finance Trust Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
KKR Real Estate Finance Trust Inc. (KREF) operates as a mortgage real estate investment trust (REIT), primarily focused on originating and acquiring first-lien debt secured by commercial properties. Its investment strategy includes a range of commercial real estate credit products, such as both leveraged and unleveraged commercial mortgage loans, as well as commercial mortgage-backed securities (CMBS). As an elected REIT, the company is exempt from federal corporate income tax, provided it distributes a minimum of 90% of its taxable income to its shareholders.
How they make money
KKR Real Estate Finance Trust Inc. is an externally managed real estate finance company that generates revenue primarily through interest income on its portfolio of senior loans secured by commercial real estate assets. The company is managed by an indirect subsidiary of KKR & Co. Inc. and operates as a REIT, focusing on originating and acquiring floating-rate loans in top U.S. markets.
Products & services
The company primarily originates and acquires senior loans secured by institutional-quality commercial real estate properties, including multifamily, office, industrial, and life science assets.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
- Commercial real estate sponsorsSource
Customer concentration
The company does not report significant customer concentration as its revenue is derived from a diversified portfolio of commercial real estate loans to various independent sponsors as of 2025-12-31.
Suppliers, materials & equipment
- KKR Real Estate Finance Manager LLC — Provides management services under a management agreement.Source
Business relationships & partnerships
- KKR Real Estate Finance Manager LLC — The company is externally managed by this entity, which is an indirect subsidiary of KKR & Co. Inc., providing management and administrative services.Source
Strengths
- Affiliation with KKR & Co. Inc. providing access to investment expertise and market reachSource
Sources
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
19
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
21
Poor
Financial Strength
26
Business Quality / Moat
30
Management
13
Growth Quality
10
Risk / Durability
22
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
31
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
39/100
Building Historical Record
Model Score 39/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Recent buyback activity is present
- •Elevated debt risk
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for KREF
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •What is driving KREF's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
- •Is KREF's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is KREF's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What specifically needs to improve for KREF to reach sustainable profitability?
- •What future growth or profitability would be needed to justify KREF's current valuation?
Essential Investment Snapshot
Wall Street Score
19
Opportunity Score
31
Market Cap
$342.7M
P/E Ratio
-1.8
EPS
$-3.28
52-Week High
$9.11
52-Week Low
$5.25
Beta
0.93
Analyst Target
$8.25
Shares Outstanding
66.8M
Total Revenue
$414.2M
Total Debt
$4.31B
Dividend Yield (TTM)
11.97%
Liquidation Value / Share
$14.82
Dividend / Share (TTM)
$0.70
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Weakening momentum
Normal movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for KREF
Detected from reported data — verify before acting.Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Elevated debt risk
Total debt is at least one year of revenue • Interest coverage is below 2x • Cash covers less than 20% of total debt
Community Sentiment
0 active · 0 total callsNo personal call yet on KREF.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Affiliation with KKR & Co. Inc. providing access to investment expertise and market reach.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Debt risk (elevated): Total debt is at least one year of revenue.
- −Interest coverage is below 2x.
- −Cash covers less than 20% of total debt.
- −Interest rate fluctuations affecting loan performance and borrowing costs.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
5 historical score records availablePrevious Score
19
Oct 20, 2026
Change
-0.1
points
Current Score
19
Oct 28, 2026
Category Changes
KREF decreased 0.1 points because some fundamentals weakened.
Projected Score
Projected Score
17
Projected Change
-1.8 points
Preliminary comparable-period financial changes suggest decline of approximately 1.8 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$5.85
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $414.2M | $458.0M | $592.6M | $660.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $59.8M | $53.6M | $49.6M | $39.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $354.4M | $404.4M | $543.0M | $620.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $28.9M | $40.7M | $42.9M | $47.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $245.3M | $132.8M | $97.0M | $193.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $110.0M | $274.9M | $448.5M | $427.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $109.1M | $271.6M | $446.0M | $426.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $295.3M | $323.0M | $412.9M | $458.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | -$188.8M | -$50.6M | $34.6M | -$30.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | -$156K | -$156K | $248K | $710K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | -$185.0M | -$47.1M | $35.6M | -$30.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $-3.28 | $-1.05 | $0.19 | $-0.78 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 62.46M | 66.81M | 69.40M | 69.18M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 62.46M | 66.81M | 69.40M | 69.18M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$91.1M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$1.95
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-20.3%
Cash Change
-22.9%
Margin Change
-102.7 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Debt reduced
What Weakened
- Margins contracted
- Cash position declined
Potential Score Impact
Positive indicators included EPS growth, debt levels. Pressure indicators included revenue growth, cash levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 23.2%. EPS increased 267.9%. Cash declined 22.9%. Total debt declined 20.3%. Net income margin declined by 102.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Log in to view dividend history.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
5 historical recordsHistorical Score Chart
3 of 5 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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News
KKR Real Estate Finance Trust Inc. Declares Preferred Stock Dividend
KKR Real Estate Finance Trust Inc. to Announce Third Quarter 2026 Results
KKR Real Estate Finance Trust (NYSE:KREF) Declares Quarterly Dividend of $0.10
KKR Real Estate Finance Trust Inc. Declares Quarterly Dividend of $0.10 Per Share of Common Stock
Rumor Mill · KREF
Corporate developments & opportunities
No reviewed developments match this filter.
The reliability percentage measures the strength of the supporting evidence—not the probability that the event will occur or that the stock will rise. Rumor Mill is separate from the WSS score.
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