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Kkr Real Estate Finance Trust Inc (KREF)
NYSE:KREF
Earnings Data
Report Date
Apr 27, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.16Last Year’s EPS
0.25Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call described meaningful progress on liquidity, financing, geographic diversification, and targeted portfolio actions (including share repurchases and plans to unlock REO value), but also disclosed near-term headwinds including a GAAP net loss, $44M of incremental CECL provisions, watch-list and life science asset risk, and expected earnings pressure in 2026 while management executes an aggressive resolution strategy. The company’s strong liquidity, financing flexibility, and clear remediation plan are positives, yet the immediate earnings and asset-quality challenges create notable near-term uncertainty.Company Guidance
Strengthened Liquidity and Financing Flexibility
Ended 4Q25 with over $880M of liquidity (including $85M cash, $74M servicer-held repayments and $700M undrawn revolver). Total financing capacity of $8.2B with $3.5B undrawn and 74% of financing non-mark-to-market; no final facility maturities until 2027 and corporate debt due 2030.
Term Loan and Revolver Upsizes and Improved Pricing
Closed a 7-year Term Loan B initially $550M and upsized/repriced to $650M (≈+18.2% increase in balance) reducing coupon to SOFR + 250 bps; corporate revolver upsized from $610M to $700M (≈+14.8%).
Geographic Diversification — First Europe Loan
Closed KREF's first loan in Europe and completed additional European investments in 4Q25, establishing a foundation for continued geographic diversification and ability to capture relative value across U.S. and Europe.
Originations and Portfolio Composition
Full-year 2025 originations totaled $1.1B; 4Q25 originations were $424M versus $380M of repayments (4Q net +$44M). Over 75% of 2025 new originations concentrated in multifamily and industrial sectors, with multifamily the largest exposure and emphasis on Class A product.
Capital Return and Share Repurchases
Repurchased >$9M of common stock in 4Q25 at an average price of $8.24; for full-year 2025 repurchases totaled $43M at an average price of $9.35, resulting in approximately $0.32 of accretion to book value per share. ~$47M remains available under the buyback authorization.
Earnings and Cash Dividend
Reported distributable earnings of $14M (or $0.22 per share) in 4Q25 and paid a $0.25 cash dividend for the quarter. Board is actively evaluating dividend as part of capital allocation amid portfolio transition.
Portfolio Positioning and Value Creation Plan
Company positioned much of REO for liquidity in 2026 and plans an aggressive resolution strategy for a significant portion of watch list assets and select office assets aimed at compressing stock-to-book discount and unlocking an estimated ~$0.13 per share embedded value in REO assets.
Capital Structure and Leverage Within Targets
Weighted average portfolio risk rating 3.2; debt-to-equity 2.2x and total leverage ratio 3.9x, consistent with company’s target ranges, supporting disciplined origination and capital allocation.
KREF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
KREF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 03, 2026 | $8.18 | $7.88 | -3.67% |
Oct 21, 2025 | $8.68 | $8.63 | -0.58% |
Jul 22, 2025 | $8.80 | $8.82 | +0.23% |
Apr 23, 2025 | $8.78 | $8.45 | -3.76% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Kkr Real Estate Finance Trust Inc (KREF) report earnings?
Kkr Real Estate Finance Trust Inc (KREF) is schdueled to report earning on Apr 27, 2026, After Close (Confirmed).
What is Kkr Real Estate Finance Trust Inc (KREF) earnings time?
Kkr Real Estate Finance Trust Inc (KREF) earnings time is at Apr 27, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KREF EPS forecast?
KREF EPS forecast for the fiscal quarter 2026 (Q1) is 0.16.