A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
KKR Real Estate Finance Trust Inc.
KREF
$489M
Mkt Cap
$7.34
+2.80%
KKR Real Estate Finance Trust Inc. (KREF) has a 5-year average return on invested capital (ROIC) of 6.0%. This is below average and may indicate limited pricing power.
KKR Real Estate Finance Trust Inc. (KREF) has a market capitalization of $472M. It is classified as a small-cap stock.
Yes, KKR Real Estate Finance Trust Inc. (KREF) pays a dividend with a trailing twelve-month yield of 13.94%. The company also returns capital through share buybacks, with a buyback yield of 7.28%.
KKR Real Estate Finance Trust Inc. (KREF) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
KKR Real Estate Finance Trust Inc. (KREF) generated $62 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
KKR Real Estate Finance Trust Inc. (KREF) has a debt-to-equity ratio of 2.49. This indicates higher leverage, which may increase financial risk.
Our Company KREF is a real estate finance company that focuses primarily on originating and acquiring transitional senior loans secured by institutional-quality commercial real estate ("CRE") properties that are owned and operated by experienced and well-capitalized sponsors and located in top markets with strong underlying fundamentals. Our target assets also include mezzanine loans, preferred equity and other debt-oriented instruments with these characteristics. Our investment objective is capital preservation and the generation of attractive risk-adjusted returns for our stockholders over the long term, primarily through dividends. We began our investment activities in October 2014 with an initial commitment of $400.0 million from KKR. We raised an additional $438.1 million in equity commitments from third-party investors and certain current and former employees of, and consultants to, KKR that brought our total committed capital base to $838.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 16M | - | 14M | - | - | 166M |
| Net Income | -121M | -70M | 13M | -54M | 15M | 126M |
| EPS | $-1.88 | $-1.05 | $0.19 | $-0.78 | $0.23 | $2.21 |
| Free Cash Flow | 0 | 62M | 132M | 156M | 141M | 125M |
| ROIC | 0.0% | 6.1% | 8.8% | 6.9% | 3.9% | 4.4% |
| Gross Margin | - | - | - | - | - | 81.1% |
| Debt/Equity | 3.69 | 2.49 | 2.28 | 2.87 | 3.22 | 3.92 |
| Dividends/Share | $1.02 | $1.00 | $1.00 | $1.72 | $1.72 | $1.72 |
| Operating Income | 0 | 253M | 426M | 406M | 252M | 241M |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | -11.1% | -5.6% | 1.0% | -3.6% | 1.0% | 10.4% |
| Shares Outstanding | 64M | 67M | 69M | 69M | 67M | 57M |
| Metric | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 12M | 25M | 62M | 99M | 115M | 142M | 166M | N/A | N/A | 14M | N/A | 16M |
| Gross Margin | 76.5% | 73.1% | 75.7% | 77.4% | 81.1% | 82.1% | 81.1% | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 2.0M | 2.3M | 4.9M | 7.8M | 11M | 14M | 14M | 18M | 19M | 18M | 18M | 18M |
| EBIT | 18M | 39M | 81M | 172M | 250M | 181M | 241M | 252M | 406M | 426M | 253M | 0 |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | 17M | 31M | 59M | 87M | 90M | 54M | 126M | 15M | -54M | 13M | -70M | -121M |
| Net Margin | 139.8% | 123.4% | 95.0% | 88.6% | 78.4% | 37.7% | 75.9% | N/A | N/A | 94.0% | N/A | -748.3% |
| Non-Recurring | 1.1M | 0 | 0 | 13M | -2.7M | 0 | 5.1M | 0 | 0 | -615K | 1.2M | 1.2M |
| Returns on Capital | ||||||||||||
| ROIC | 30.6% | 1.2% | 1.2% | 3.4% | 7.0% | 4.2% | 4.4% | 3.9% | 6.9% | 8.8% | 6.1% | 0.0% |
| ROE | 210.1% | 7.9% | 7.6% | 8.0% | 8.0% | 4.9% | 10.4% | 1.0% | -3.6% | 1.0% | -5.6% | -11.1% |
| ROA | 368.5% | 1.0% | 0.9% | 1.4% | 1.8% | 1.1% | 2.2% | 0.2% | -0.7% | 0.2% | -1.1% | -1.7% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | 12M | 25M | 54M | 77M | 92M | 115M | 125M | 141M | 156M | 133M | 72M | 70M |
| Free Cash Flow | 12M | 25M | 54M | 77M | 92M | 115M | 125M | 141M | 156M | 132M | 62M | 0 |
| Owner Earnings | 12M | 25M | 54M | 75M | 88M | 109M | 117M | 133M | 148M | 123M | 62M | 59M |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 363K | 11M | 0 |
| Maint. CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 983K | 2.6M | 3.1M |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 8.0M | 0 |
| D&A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 983K | 2.6M | 3.1M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.2% | 1.2% | 6.1% | 7.7% | 0.0% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 7.5M | 22M | 51M | 89M | 99M | 96M | 96M | 115M | 119M | 82M | 67M | 66M |
| Dividend Yield | N/A | N/A | 12.4% | 17.6% | 17.3% | 18.2% | 13.6% | 13.8% | 18.6% | 13.0% | 11.4% | 13.9% |
| Share Buybacks | 0 | 0 | 523K | 31M | 4.1M | 25M | 0 | 36M | 0 | 10M | 43M | 34M |
| Buyback Yield | N/A | N/A | 0.1% | 6.2% | 0.7% | 4.3% | N/A | 5.6% | N/A | 1.6% | 7.9% | 7.3% |
| Stock-Based Comp | 0 | 0 | 65K | 2.0M | 4.1M | 5.7M | 7.4M | 7.8M | 8.1M | 8.3M | 7.9M | 7.6M |
| Debt Repayment | 2.1M | 4.7M | 3.4M | 26M | 12M | 12M | 24M | 33M | 5.8M | 7.7M | 26M | 26M |
| Balance Sheet | ||||||||||||
| Net Debt | 97M | 5.7B | 6.1B | 1.9B | 3.0B | 3.4B | 5.1B | 4.8B | 3.9B | 3.0B | 2.8B | 3.9B |
| Cash & Equiv. | 27M | 96M | 103M | 87M | 68M | 111M | 271M | 240M | 136M | 105M | 85M | 135M |
| Long-Term Debt | N/A | 5.8B | 6.2B | 158M | 207M | 896M | 1.6B | 1.3B | 245M | 265M | 56M | 1.2B |
| Debt/Equity | 220.86 | 11.56 | 5.87 | 1.72 | 2.76 | 3.33 | 3.92 | 3.22 | 2.87 | 2.28 | 2.49 | 3.69 |
| Interest Coverage | 31.9 | 5.2 | 3.8 | 2.0 | 1.6 | 1.4 | 2.1 | 1.1 | 0.9 | 1.0 | 0.8 | 0.8 |
| Equity | 561K | 498M | 1.1B | 1.1B | 1.1B | 1.0B | 1.4B | 1.6B | 1.4B | 1.3B | 1.2B | 1.1B |
| Total Assets | 4.5M | 6.3B | 7.4B | 5.2B | 5.1B | 5.0B | 6.7B | 7.8B | 7.5B | 6.4B | 6.5B | 7.0B |
| Total Liabilities | 4.0M | 5.8B | 6.3B | 4.1B | 3.9B | 3.9B | 5.3B | 6.2B | 6.1B | 5.0B | 5.2B | 5.8B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | 18M | 6.3M | -225K | -8.6M | -66M | -38M | -142M | -314M | -370M | -506M | -584M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | ||||||||||||
| EPS | 1.95 | 1.61 | 1.30 | 1.58 | 1.57 | 0.96 | 2.21 | 0.23 | -0.78 | 0.19 | -1.05 | -1.88 |
| Owner EPS | 1.34 | 1.31 | 1.19 | 1.35 | 1.52 | 1.96 | 2.06 | 1.99 | 2.14 | 1.79 | 0.93 | 0.91 |
| Book Value | 0.07 | 25.73 | 23.41 | 20.50 | 19.47 | 18.71 | 23.95 | 23.52 | 20.32 | 19.55 | 17.62 | 17.05 |
| Cash Flow/Share | 1.34 | 1.31 | 1.19 | 1.39 | 1.59 | 2.06 | 2.20 | 2.11 | 2.25 | 1.93 | 1.09 | -1.84 |
| Dividends/Share | 0.88 | 1.22 | 1.62 | 1.69 | 1.72 | 1.72 | 1.72 | 1.72 | 1.72 | 1.00 | 1.00 | 1.02 |
| Shares Out. | 8.6M | 19.3M | 45.2M | 55.2M | 57.6M | 55.8M | 56.8M | 66.8M | 69.1M | 68.8M | 66.6M | 64.3M |
| Valuation | ||||||||||||
| P/E Ratio | N/A | N/A | 6.9 | 5.8 | 6.8 | 10.9 | 6.0 | 41.9 | N/A | 47.3 | N/A | -3.9 |
| P/FCF | N/A | N/A | 7.5 | 6.6 | 6.7 | 5.1 | 6.1 | 4.6 | 4.9 | 4.7 | 8.9 | N/A |
| EV/EBIT | N/A | N/A | 368.8 | N/A | N/A | N/A | N/A | 702.9 | 392.0 | 559.0 | 698.2 | N/A |
| Price/Book | N/A | N/A | 0.4 | 0.4 | 0.6 | 0.6 | 0.6 | 0.4 | 0.5 | 0.5 | 0.5 | 0.4 |
| Price/Sales | N/A | N/A | 6.6 | 5.1 | 5.0 | 3.7 | 4.3 | 4.5 | 3.5 | 4.1 | 5.2 | 29.1 |
| FCF Yield | N/A | N/A | 13.3% | 15.1% | 14.8% | 19.7% | 16.5% | 21.9% | 20.5% | 21.4% | 11.2% | N/A |
| Market Cap | N/A | N/A | 404M | 508M | 618M | 584M | 758M | 645M | 758M | 619M | 550M | 472M |
| Avg. Price | N/A | N/A | 9.01 | 9.13 | 9.95 | 9.50 | 12.39 | 12.47 | 9.25 | 9.15 | 8.78 | 7.34 |
| Year-End Price | N/A | N/A | 8.93 | 9.20 | 10.72 | 10.48 | 13.33 | 9.64 | 10.97 | 8.99 | 8.27 | 7.34 |
KKR Real Estate Finance Trust Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 7.1x vs a median of 6.1x. The company's 5-year average ROIC is 6.0% with a gross margin of 81.1%. Total shareholder yield (dividends + buybacks) is 21.2%. At current prices, the estimated annualized return to fair value is +0.3%.
KKR Real Estate Finance Trust Inc. (KREF) reported earnings per share (EPS) of $-1.05 in its most recent fiscal year.
KKR Real Estate Finance Trust Inc. (KREF) has a return on equity (ROE) of -5.6%. A negative ROE may indicate losses or negative equity.
KKR Real Estate Finance Trust Inc. (KREF) has a 5-year average gross margin of 81.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 11 years of financial data for KKR Real Estate Finance Trust Inc. (KREF), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
KKR Real Estate Finance Trust Inc. (KREF) has a book value per share of $17.62, based on its most recent annual SEC filing.