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KKR Real Estate Finance Trust Inc. logo

KKR Real Estate Finance Trust Inc.

KREF

NYSEReal EstateREIT - Mortgage

Open in GoAI

Previous close

$7.58

+$0.10 · +1.34%

Aug 21, 4:00 PM ET

KREF company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 1, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

85

Deep Value

Momentum

43

Neutral

Sentiment

59

Mixed

Risk resilience

55

Elevated Risk

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AI-generated, informational only, and not investment advice.

Company profile

Company website

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. KREF was established in 2014 and maintains its corporate headquarters in New York, New York.

Industry
REIT - Mortgage
Sector
Real Estate
Headquarters
US
CEO
Matthew A. Salem
Listed since
May 5, 2017
Employees
0

Market position

Day range

Current $7.58

52-week range

Current $7.58

Open
$7.515
Previous close
$7.48
Volume
370K
0.31× average
Average volume
1.18M
Average daily volume
Market cap
487.4M USD
Beta
0.87
Market reference 1
50-day average
$7.2806
+4.11% above average
200-day average
$7.3184
+3.58% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
-2.31×
P/B (TTM)
0.51×
P/S (TTM)
1.18×
Dividend yield
11.21%

Profitability & efficiency

Gross margin
85.57%
Operating margin
26.35%
Net margin
-44.66%

Financial health

Debt / equity
4.63×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends104%63%21%-21%Gross margin, FY2021: 89.62%Gross margin, FY2022: 91.43%Gross margin, FY2023: 93.96%Gross margin, FY2024: 91.63%Gross margin, FY2025: 88.30%Operating margin, FY2021: 86.06%Operating margin, FY2022: 61.65%Operating margin, FY2023: 64.59%Operating margin, FY2024: 75.25%Operating margin, FY2025: 59.31%Net margin, FY2021: 48.01%Net margin, FY2022: 8.73%Net margin, FY2023: -4.67%Net margin, FY2024: 6.01%Net margin, FY2025: -10.27%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 89.62%. Gross margin FY2022 91.43%. Gross margin FY2023 93.96%. Gross margin FY2024 91.63%. Gross margin FY2025 88.30%. Operating margin FY2021 86.06%. Operating margin FY2022 61.65%. Operating margin FY2023 64.59%. Operating margin FY2024 75.25%. Operating margin FY2025 59.31%. Net margin FY2021 48.01%. Net margin FY2022 8.73%. Net margin FY2023 -4.67%. Net margin FY2024 6.01%. Net margin FY2025 -10.27%.

Income trends

Revenue

457.96M USD-22.72%

Operating income

271.64M USD-39.09%

Net income

−47.05M USD−82.64M USD
Income trends across reported periods730.92M USD448.02M USD165.12M USD−117.78M USDRevenue, FY2021: 285.76M USDRevenue, FY2022: 436.51M USDRevenue, FY2023: 660.19M USDRevenue, FY2024: 592.62M USDRevenue, FY2025: 457.96M USDOperating income, FY2021: 245.94M USDOperating income, FY2022: 269.09M USDOperating income, FY2023: 426.44M USDOperating income, FY2024: 445.97M USDOperating income, FY2025: 271.64M USDNet income, FY2021: 137.18M USDNet income, FY2022: 38.1M USDNet income, FY2023: −30.85M USDNet income, FY2024: 35.59M USDNet income, FY2025: −47.05M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 285.76M USD. Revenue FY2022 436.51M USD. Revenue FY2023 660.19M USD. Revenue FY2024 592.62M USD. Revenue FY2025 457.96M USD. Operating income FY2021 245.94M USD. Operating income FY2022 269.09M USD. Operating income FY2023 426.44M USD. Operating income FY2024 445.97M USD. Operating income FY2025 271.64M USD. Net income FY2021 137.18M USD. Net income FY2022 38.1M USD. Net income FY2023 −30.85M USD. Net income FY2024 35.59M USD. Net income FY2025 −47.05M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue457.96M USD592.62M USD660.19M USD436.51M USD285.76M USD
Cost of goods sold53.56M USD49.6M USD39.85M USD37.43M USD29.65M USD
Gross profit404.4M USD543.02M USD620.34M USD399.08M USD256.11M USD
Selling, general, and administrative40.74M USD————
Operating expenses132.76M USD97.05M USD193.9M USD129.99M USD10.18M USD
Interest income435.6M USD564.63M USD640.41M USD421.97M USD279.95M USD
Interest expense322.96M USD412.91M USD458.8M USD236.1M USD114.44M USD
Depreciation and amortization2.6M USD983K USD———
Operating income271.64M USD445.97M USD426.44M USD269.09M USD245.94M USD
Net income−47.05M USD35.59M USD−30.85M USD38.1M USD137.18M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 5 misses, 0 met estimates
Average EPS surprise
-316.71%
11 comparable reports
Latest EPS result
-0.58
Estimate -0.56 · Miss by 3.30%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.380.04-0.31-0.65Q1 '25BeatQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 3, 2025: actual 0.31, estimate 0.08, surprise +287.50%, Beat. Q2 2025, reported Apr 23, 2025: actual -0.15, estimate 0.17, surprise -188.24%, Miss. Q3 2025, reported Jul 22, 2025: actual -0.53, estimate -0.016, surprise -3265.08%, Miss. Q4 2025, reported Oct 21, 2025: actual -0.03, estimate 0.01, surprise -400.00%, Miss. Q1 2026, reported Feb 3, 2026: actual 0.22, estimate 0.13, surprise +69.23%, Beat. Q2 2026, reported Apr 22, 2026: actual -0.06, estimate 0.151, surprise -139.76%, Miss. Q3 2026, reported Jul 21, 2026: actual -0.58, estimate -0.561, surprise -3.30%, Miss. Q4 2026, reported Oct 20, 2026: actual —, estimate -0.26, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates37.31M31.37M25.44M19.51MQ1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 3, 2025: actual 33.97M USD, estimate 32M USD, surprise +6.17%, Beat. Q2 2025, reported Apr 23, 2025: actual 31.34M USD, estimate 35.22M USD, surprise -11.01%, Miss. Q3 2025, reported Jul 22, 2025: actual 35.87M USD, estimate 35.12M USD, surprise +2.15%, Beat. Q4 2025, reported Oct 21, 2025: actual 25.33M USD, estimate 26.06M USD, surprise -2.79%, Miss. Q1 2026, reported Feb 3, 2026: actual 32.64M USD, estimate 29.89M USD, surprise +9.19%, Beat. Q2 2026, reported Apr 22, 2026: actual 34.6M USD, estimate 28.12M USD, surprise +23.04%, Beat. Q3 2026, reported Jul 21, 2026: actual 20.95M USD, estimate 24.97M USD, surprise -16.12%, Miss. Q4 2026, reported Oct 20, 2026: actual —, estimate 22.29M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$8.25

8.84% upside
Past 12 months12-month forecast

Price history unavailable

High $9.50Average $8.25Low $7.00

KREF news

defenseworld.net

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…

Read source
zacks.com

Surging Earnings Estimates Signal Upside for KKR Real Estate (KREF) Stock

KKR Real Estate Finance (KREF) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Read source
defenseworld.net

KKR Real Estate Finance Trust Q2 Earnings Call Highlights

KKR Real Estate Finance Trust (NYSE: KREF) reported a second-quarter loss and a lower book value as management said the commercial mortgage REIT continued to reposition its portfolio, increase reserves against troubled…

Read source
seekingalpha.com

KKR Real Estate Finance Trust Inc. (KREF) Q2 2026 Earnings Call Transcript

KKR Real Estate Finance Trust Inc. (KREF) Q2 2026 Earnings Call Transcript

Read source
marketbeat.com

KKR Real Estate Finance Trust Q2 Earnings Call Highlights

KKR Real Estate Finance Trust NYSE: KREF reported a second-quarter loss and a lower book value as management said the commercial mortgage REIT continued to reposition its portfolio, increase reserves against troubled…

Read source
zacks.com

Here's What Key Metrics Tell Us About KKR Real Estate (KREF) Q2 Earnings

Although the revenue and EPS for KKR Real Estate (KREF) give a sense of how its business performed in the quarter ended June 2026, it might be worth considering how some key metrics compare with Wall Street estimates and…

Read source

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$1.00

2025 complete year-49.6% since 2021

2026 partial: $0.35

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Jun 30, 2026

$0.10

Quarterly

Record Jun 30, 2026 · Payment Jul 15, 2026

Dividend

Ex-dividend Mar 31, 2026

$0.25

Quarterly

Record Mar 31, 2026 · Payment Apr 15, 2026

Dividend

Ex-dividend Dec 31, 2025

$0.25

Quarterly

Record Dec 31, 2025 · Payment Jan 15, 2026

Dividend

Ex-dividend Sep 30, 2025

$0.25

Quarterly

Record Sep 30, 2025 · Payment Oct 15, 2025

Dividend

Ex-dividend Jun 30, 2025

$0.25

Quarterly

Record Jun 30, 2025 · Payment Jul 15, 2025

Dividend

Ex-dividend Mar 31, 2025

$0.25

Quarterly

Record Mar 31, 2025 · Payment Apr 15, 2025

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ETFs holding KREF

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
11.28M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
10.13M
Weight
0.01%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
iShares Mortgage Real Estate ETF logoiShares Mortgage Real Estate ETFREM
Market value
4.95M
Weight
0.91%
AUM
544.56M USD
Expense ratio
0.48%
Price / 1D
$22.02-0.23%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
4.24M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
VanEck Mortgage REIT Income ETF logoVanEck Mortgage REIT Income ETFMORT
Market value
3.91M
Weight
1.05%
AUM
370.81M USD
Expense ratio
0.43%
Price / 1D
$9.90-0.30%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
3.55M
Weight
0.02%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%
Schwab Fundamental U.S. Small Company Index ETF logoSchwab Fundamental U.S. Small Company Index ETFFNDA
Market value
3.3M
Weight
0.04%
AUM
9.26B USD
Expense ratio
0.25%
Price / 1D
$37.73+0.75%
Vanguard Russell 2000 ETF logoVanguard Russell 2000 ETFVTWO
Market value
2.1M
Weight
0.01%
AUM
17.4B USD
Expense ratio
0.06%
Price / 1D
$121.25+0.74%

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