Kkr Reit ( (KREF) ) has released its Q4 earnings. Here is a breakdown of the information Kkr Reit presented to its investors.
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KKR Real Estate Finance Trust Inc. (NYSE: KREF) is a real estate investment trust that focuses on originating or acquiring transitional senior loans secured by institutional-quality commercial real estate assets. The company operates in liquid markets with strong fundamentals and is managed by KKR Real Estate Finance Manager LLC, a subsidiary of KKR & Co. Inc., a prominent global investment firm.
In its recent earnings report, KKR Real Estate Finance Trust Inc. disclosed a net income of $14.6 million for the fourth quarter and $13.1 million for the full year 2024, translating to earnings of $0.21 and $0.19 per diluted share, respectively. Despite these profits, the company reported a significant distributable loss of $14.7 million for the fourth quarter and $70.7 million for the entire year.
Key highlights of the fourth quarter include receiving $457 million in loan repayments and funding $53 million in new loan principals. The company also repaid $220 million in net financing and maintained a loan portfolio valued at $5.9 billion, with 99% of these loans at floating rates. The portfolio has a weighted average loan-to-value ratio of 65% and consists predominantly of multifamily and industrial assets.
Over the year, KKR REIT achieved a liquidity position of $684.8 million and managed to decrease its total leverage ratio to 3.6x by repaying $1 billion in net financing. It also extended the maturity of a significant credit facility to 2029 and faced net realized losses of $173.5 million due to loan resolutions.
Looking ahead, the management of KKR REIT expresses optimism, noting attractive lending opportunities in the current market and highlighting robust loan repayment levels that enhance the company’s liquidity, positioning it well for upcoming investment activities.
