KKR Real Estate Finance Trust Inc. (KREF) is a publicly traded company in the Real Estate — REIT - Mortgage industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
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).
Analysis Summary
KKR Real Estate Finance Trust Inc. reported revenue of $458.0M in the most recent fiscal year, growing at a 5-year CAGR of 11.2%.
Trailing-twelve-month margins: gross margin 85.6%, operating margin 26.3%, net margin -44.7%. Free cash flow grew at -10.3% CAGR over 5 years.
At the current price of $6.98, KREF has negative trailing earnings (P/E not meaningful) and an ROE of -16.70%. Market capitalisation stands at $449M.
Balance sheet quality for KREF: current ratio of 0.3, net debt of $4.61B. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Price
| Price | $6.98 |
| Market Cap | $449M |
| Exchange | NYSE |
| Country | US |
Valuation Ratios
| Price / Book | 0.44 |
| EV / EBITDA | 42.64 |
| Dividend Yield | 13.03% |
Profitability
| Return on Equity | -16.70% |
| Return on Invested Capital | 1.67% |
| Return on Assets | -2.82% |
| Gross Margin | 85.57% |
| Operating Margin | 26.35% |
| Net Margin | -44.66% |
Financial Health
| Debt / Equity | 4.63 |
| Current Ratio | 0.08 |
What to look at in Reit companies
- FFO / Share (Positive growth) — REIT 'true EPS' — net income + depreciation.
- Dividend coverage (FFO/div) (>=1.1x) — FFO must cover the dividend with margin.
- Net Debt / EBITDA (<=6x) — NAREIT benchmark. Normalises leverage by cash generation.
- Debt / Assets (40-60%) — REITs use a lot of debt by design. >65% fragile when rates rise.
- FFO Payout (proxy) (<80%) — Dividends / Operating CF. Quality REITs retain >20% to grow.
- P/FFO (15-20x) — REIT P/E equivalent. Healthy typical range.
Peer Comparison
| Symbol | Company | Market Cap | P/E | P/B | ROE |
|---|---|---|---|---|---|
| KREF | KKR Real Estate Finance Trust Inc. | $449M | 0.44 | -16.7% | |
| RCB | Ready Capital Corporation | $61.3B | 3.36 | -37.6% | |
| NLY | Annaly Capital Management, Inc. | $16.0B | 5.28 | 0.91 | 18.4% |
| AGNC | AGNC Investment Corp. | $11.3B | 4.69 | 0.85 | 18.3% |
| 0H6E.L | AGNC Investment Corp. | $11.0B | 7.08 | 0.86 | 13.5% |
| STWD | Starwood Property Trust, Inc. | $5.8B | 22.32 | 0.85 | 3.4% |
| DX | Dynex Capital, Inc. | $3.1B | 4.59 | 0.85 | |
| RWTN | Redwood Trust, Inc. 9.125% Seni | $3.0B |
Price Performance
| 1 month | -4.12% |
| 3 months | -1.13% |
| Year-to-date | -15.09% |
| 1 year | -26.68% |
| 3 years | -45.08% |
52-Week Range
| 52-week High | $9.73 |
| 52-week Low | $5.25 |
| Avg Volume (90d) | 963K |
Dividend History
| Date | Amount | Yield |
|---|---|---|
| 2026-06-30 | $0.1000 | 5.73% |
| 2026-03-31 | $0.2500 | 14.33% |
| 2025-12-31 | $0.2500 | 14.33% |
| 2025-09-30 | $0.2500 | 14.33% |
| 2025-06-30 | $0.2500 | 14.33% |
| 2025-03-31 | $0.2500 | 14.33% |
| 2024-12-31 | $0.2500 | 14.33% |
| 2024-09-30 | $0.2500 | 14.33% |
| 2024-06-28 | $0.2500 | 14.33% |
| 2024-03-27 | $0.2500 | 14.33% |
Related companies: ADAM · BFS · CMTG · CTO · IVR · NREF · RC
Explore sector: Real Estate · REIT - Mortgage
More sections of KREF: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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