KKR Real Estate Finance Trust Inc. (KREF-PA)
KKR Real Estate Finance Trust Inc. operates as a mortgage real estate investment trust (REIT), primarily focused on originating and acquiring senior debt instruments backed by commercial real estate (CRE) assets. The company's investment portfolio also encompasses a variety of other CRE-related credit products, including diverse forms of commercial mortgage loans (both leveraged and unleveraged) and commercial mortgage-backed securities. Having opted for REIT tax treatment, it avoids federal corporate income tax obligations as long as it distributes at least 90% of its taxable earnings to its stockholders. KKR Real Estate Finance Trust Inc. was established in 2014 and maintains its corporate headquarters in New York, New York.
Sector: Real Estate Investment Trusts
Industry: REIT - Mortgage
KKR Real Estate Finance Trust Inc.
Mkt Cap$324.35M
Float13.11M
O/S57.31M
Inst Own-
Dilution
Financials Summary
Revenue$457.96M
Net Income-$47.05M
Total Assets$6.46B
Free Cash Flow$66.7M
Debt & Equity
Debt 76%
Equity 19%
Preferred 5%
Total Debt$4.69B
Total Equity$1.17B
Preferred Stock$327.75M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in KREF-PA's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$6.46B
Liabilities$5.24B
Accounts Receivable$25.2M
Accounts Payable$0
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Revenue | $457.96M | $592.62M | $660.19M | $436.51M | $285.76M | $269.93M | $275.76M | $198.01M | $84.11M | $33.17M | $14M | $700K |
| YoY Growth | -22.7% | -10.2% | 51.2% | 52.8% | 5.9% | -2.1% | 39.3% | 135.4% | 153.6% | 137.0% | 1899.4% | - |
| Cost of Revenue | $53.56M | $49.6M | $39.85M | $37.43M | $29.65M | $23.77M | $20.41M | $21.1M | $13.49M | $6.3M | $2.75M | $0 |
| Gross Profit | $404.4M | $543.02M | $620.34M | $399.08M | $256.11M | $246.17M | $255.36M | $176.91M | $70.62M | $26.87M | $11.24M | $700K |
| Gross Margin | 88.3% | 91.6% | 94.0% | 91.4% | 89.6% | 91.2% | 92.6% | 89.3% | 84.0% | 81.0% | 80.3% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $40.74M | $42.94M | $47.45M | $43.93M | $43.89M | $0 | $0 | $0 | $0 | $0 | $0 | $2.9M |
| Other | $92.02M | $54.11M | $146.45M | $86.06M | -$33.71M | $64.58M | $10.52M | $5.22M | $10.31M | -$5.76M | -$6.32M | $0 |
| Total Operating Expenses | $132.76M | $97.05M | $193.9M | $129.99M | $10.18M | $64.58M | $10.52M | $5.22M | $10.31M | -$5.76M | -$6.32M | $2.9M |
| Operating Income (EBIT) | $271.64M | $445.97M | $426.44M | $269.09M | $245.94M | $181.58M | $244.84M | $171.69M | $60.31M | $32.63M | $17.57M | -$2.2M |
| Operating Margin | 59.3% | 75.3% | 64.6% | 61.6% | 86.1% | 67.3% | 88.8% | 86.7% | 71.7% | 98.4% | 125.5% | -314.3% |
| Interest Expense | $322.96M | $412.91M | $458.8M | $236.09M | $114.44M | $127.31M | $158.86M | $85.02M | $21.22M | $7.43M | $554K | $0 |
| Interest Income | $435.6M | $564.63M | $640.41M | $421.97M | $279.95M | $269.19M | $276M | $183.57M | $83.14M | $32.66M | $12.54M | $0 |
| Other Income (Expense) | -$322.28M | -$411.39M | -$457.38M | -$231.44M | -$108.07M | -$126.78M | -$154.29M | -$81.95M | $875K | $0 | $0 | $0 |
| Income Before Tax (EBT) | -$50.65M | $34.58M | -$30.95M | $37.65M | $137.87M | $54.81M | $90.54M | $89.74M | $61.18M | $32.63M | $17.57M | -$2.2M |
| Income Tax Expense | -$156K | $248K | $710K | $58K | $684K | $412K | $579K | -$70K | $1.1M | $354K | $393K | $0 |
| Net Income | -$47.05M | $35.59M | -$30.85M | $38.1M | $137.18M | $54.4M | $89.97M | $89.74M | $59.06M | $31.16M | $16.76M | -$2.09M |
| Net Income Margin | -10.3% | 6.0% | -4.7% | 8.7% | 48.0% | 20.2% | 32.6% | 45.3% | 70.2% | 93.9% | 119.8% | -298.3% |
| Supplementary Data | ||||||||||||
| EPS | -1.05 | 0.19 | -0.78 | 0.23 | 2.22 | 0.96 | 1.58 | 1.63 | 1.30 | 0.60 | 0.32 | -6.54 |
| Diluted EPS | -1.05 | 0.19 | -0.78 | 0.23 | 2.21 | 0.96 | 1.57 | 1.63 | 1.30 | 0.60 | 0.32 | -6.54 |
| Weighted Average OS | 66.81M | 69.40M | 69.18M | 67.55M | 56.57M | 55.99M | 57.43M | 55.14M | 45.32M | 52.17M | 52.17M | 319,212 |
| EBITDA | $274.92M | $448.47M | $427.86M | $273.75M | $252.31M | $182.12M | $249.4M | $183.34M | $85.55M | $40.06M | $18.12M | $112K |
| EBITDA Margin | 60.0% | 75.7% | 64.8% | 62.7% | 88.3% | 67.5% | 90.4% | 92.6% | 101.7% | 120.8% | 129.5% | 16.0% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Assets | ||||||||||||
| Current Assets | ||||||||||||
| Cash and Cash Equivalents | $84.62M | $104.93M | $135.9M | $239.79M | $271.49M | $110.83M | $67.62M | $86.53M | $103.52M | $96.35M | $26.79M | $61K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $84.62M | $104.93M | $135.9M | $239.79M | $271.49M | $110.83M | $67.62M | $86.53M | $103.52M | $96.35M | $26.79M | $61K |
| Accounts Receivable | $25.2M | $28.75M | $41M | $39.01M | $15.24M | $15.41M | $16.3M | $16.18M | $13.02M | $3.88M | $1.38M | $16.74M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $226K |
| Total Current Assets | $109.82M | $133.69M | $176.9M | $278.8M | $286.73M | $126.24M | $83.92M | $102.71M | $116.54M | $100.22M | $28.16M | $17.02M |
| Long-Term Assets | ||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $697.18M | $119.08M | $47.63M | $47.8M | $38.6M | $33.66M | $37.47M | $1.13B | $5.39B | $5.46B | $4.39B | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $5.66B | $6.1B | $7.32B | $7.48B | $6.38B | $4.81B | $4.94B | $4B | $1.89B | $702.65M | $295.04M | $20K |
| Total Long-Term Assets | $6.35B | $6.22B | $7.37B | $7.52B | $6.42B | $4.84B | $4.97B | $5.13B | $7.28B | $6.17B | $4.69B | $20K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $6.46B | $6.35B | $7.55B | $7.8B | $6.7B | $4.97B | $5.06B | $5.23B | $7.39B | $6.27B | $4.72B | $17.04M |
| Liabilities | ||||||||||||
| Current Liabilities | ||||||||||||
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $59K |
| Short-Term Debt | $344.46M | $348.51M | $1.8B | $505.95M | $1.61B | $895.73M | $777.75M | $360.65M | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.94M | $0 |
| Total Current Liabilities | $344.46M | $348.51M | $1.8B | $505.95M | $1.61B | $895.73M | $777.75M | $360.65M | $0 | $0 | $0 | $854K |
| Long-Term Liabilities | ||||||||||||
| Long-Term Debt | $4.35B | $4.55B | $4.26B | $5.66B | $3.69B | $2.92B | $3.05B | $3.61B | $6.22B | $5.75B | $4.42B | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $32K | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $545.9M | $52.89M | $83.52M | $66.54M | $46.69M | $106.97M | $105.97M | $127.32M | $109.98M | $4.62M | $6.91M | $0 |
| Total Long-Term Liabilities | $4.89B | $4.6B | $4.35B | $5.72B | $3.73B | $3.02B | $3.16B | $3.74B | $6.33B | $5.76B | $4.43B | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.42B | $0 |
| Total Liabilities | $5.24B | $4.95B | $6.14B | $6.23B | $5.34B | $3.92B | $3.93B | $4.1B | $6.33B | $5.76B | $4.43B | $854K |
| Stockholders' Equity | ||||||||||||
| Preferred Stock | $327.75M | $327.75M | $327.75M | $327.75M | $172.5M | $1.85M | $1.69M | $2.85M | $949K | $125K | $125K | $0 |
| Common Stock | $644K | $686K | $693K | $691K | $613K | $556K | $575K | $576K | $537K | $242K | $136K | $8K |
| Retained Earnings | -$506.13M | -$370.47M | -$314.37M | -$141.5M | -$38.21M | -$65.7M | -$8.59M | -$225K | $6.28M | $17.91M | $8.68M | -$522K |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $1.68B | $1.71B | $1.72B | $1.71B | $1.4B | $1.11B | $1.13B | $1.13B | $1.05B | $479.54M | $272.64M | $15.89M |
| Total Equity | $1.17B | $1.35B | $1.4B | $1.57B | $1.36B | $1.05B | $1.12B | $1.14B | $1.06B | $497.7M | $281.46M | $15.38M |
| Minority Interest | $52.65M | $53.85M | -$585K | -$102K | $147K | $0 | $0 | $0 | $3.09M | $10.37M | $9.56M | $809K |
| Total Liabilities and Equity | $6.41B | $6.3B | $7.55B | $7.8B | $6.7B | $4.97B | $5.06B | $5.23B | $7.39B | $6.26B | $4.71B | $16.23M |
| Supplementary Data | ||||||||||||
| Total Debt | $4.69B | $4.9B | $6.06B | $6.16B | $5.29B | $3.81B | $3.83B | $3.97B | $6.22B | $5.75B | $4.42B | $0 |
| Net Debt | $4.61B | $4.79B | $5.92B | $5.92B | $5.02B | $3.7B | $3.76B | $3.88B | $6.12B | $5.66B | $4.39B | -$61K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Operating Activities | ||||||||||||
| Net Income | -$50.49M | $34.33M | -$31.66M | $37.59M | $137.18M | $54.4M | $89.97M | $89.81M | $60.08M | $32.27M | $17.17M | -$2.09M |
| Depreciation & Amortization | $2.6M | $983K | $0 | $0 | $0 | $0 | $0 | $8.59M | $3.14M | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$24.93M | -$5.33M | $0 | $0 | $0 |
| Stock-Based Compensation | $7.93M | $8.26M | $8.07M | $7.83M | $7.43M | $5.68M | $4.09M | $1.97M | $65K | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||
| Accounts Receivable | $3.56M | $12.18M | -$2M | -$23.76M | $171K | $893K | $61K | -$6.91M | -$5.45M | -$1.65M | -$1.05M | -$448K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.91M | $5.2B | $0 | $0 | $0 |
| Accounts Payable | -$10.37M | -$2.28M | $1.73M | $10.33M | $1.87M | $726K | -$708K | $1.76M | -$6.28M | -$6.87M | $3.07M | $0 |
| Other Working Capital | $1.81M | $161K | $90K | $1.14M | -$306K | -$687K | $488K | -$2.94M | -$5.19B | $6.08M | -$2.16M | $2.73M |
| Total Working Capital Change | -$5M | $10.06M | -$177K | -$12.29M | $1.73M | $932K | -$159K | -$1.17M | -$775K | -$2.44M | -$145K | $2.28M |
| Other Non-Cash Items | $117.25M | $78.93M | $179.47M | $107.98M | -$21.55M | $54.06M | -$2.18M | $2.56M | -$3.38M | -$4.42M | -$5.49M | -$160K |
| Net Cash from Operating | $72.28M | $132.56M | $155.72M | $141.13M | $124.79M | $115.06M | $91.71M | $76.83M | $53.8M | $25.41M | $11.54M | $32K |
| Investing Activities | ||||||||||||
| Capital Expenditures | -$5.58M | -$8.11M | -$1.86M | -$1.66M | $0 | $0 | $0 | $0 | $0 | -$455K | -$274K | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$33.52M | -$2.38M | $0 | $0 | $0 | $0 | -$94.01M | -$15.61M | -$1.2B | -$10.24M | -$23.89M | $0 |
| Sales of Investments | $0 | $0 | $1.29M | $0 | $1.3M | $0 | $94.07M | $99.75M | $37.31M | $2.05M | $92.32M | $0 |
| Other Investing Activities | $303.39M | $1.13B | $14.06M | -$1.18B | -$1.54B | $88.71M | -$926.38M | -$2.1B | $80.79M | -$445.75M | -$340.15M | -$66.75M |
| Net Cash from Investing | $264.29M | $1.12B | $13.49M | -$1.18B | -$1.54B | $88.71M | -$926.31M | -$2B | -$1.08B | -$456.45M | -$364.31M | -$66.75M |
| Financing Activities | ||||||||||||
| Debt Repaid | $199.57M | $1.17B | $123.89M | -$876.81M | -$1.43B | $24.89M | -$933.04M | -$1.95B | -$523.76M | -$321.68M | -$123.9M | - |
| Common Stock Issuance | $0 | $0 | $0 | $194.22M | $120.71M | $0 | $0 | $109.5M | $581.25M | $210M | $256.82M | $0 |
| Common Stock Repurchases | -$43.41M | -$10.03M | $0 | -$35.79M | $0 | -$25.06M | -$4.11M | -$31.35M | -$648K | $0 | $0 | $0 |
| Dividends Paid | -$66.86M | -$81.8M | -$118.85M | -$115.37M | -$95.68M | -$96.45M | -$98.95M | -$88.85M | -$50.58M | -$21.91M | -$7.54M | $0 |
| Other Financing Activities | -$24.65M | -$8.25M | -$7.47M | -$36.65M | -$30.42M | -$13.52M | -$13.7M | -$31.29M | $564.52M | -$9.16M | $6.2M | $66.96M |
| Net Cash from Financing | -$355.78M | -$1.29B | -$271.51M | $1.01B | $1.58B | -$160.56M | $815.69M | $1.9B | $1.04B | $500.6M | $379.49M | $66.96M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$19.21M | -$41.77M | -$102.31M | -$23.15M | $162.94M | $43.21M | -$18.91M | -$16.99M | $7.17M | $69.56M | $26.73M | $244K |
| Supplementary Data | ||||||||||||
| Operating Cash Flow | $72.28M | $132.56M | $155.72M | $141.13M | $124.79M | $115.06M | $91.71M | $76.83M | $53.8M | $25.41M | $11.54M | $32K |
| Capital Expenditure | -$5.58M | -$8.11M | -$1.86M | -$1.66M | $0 | $0 | $0 | $0 | $0 | -$455K | -$274K | $0 |
| Free Cash Flow | $66.7M | $124.46M | $153.85M | $139.46M | $124.79M | $115.06M | $91.71M | $76.83M | $53.8M | $24.95M | $11.27M | $32K |
| Cash at Beginning | $106.55M | $148.31M | $250.62M | $273.77M | $110.83M | $67.62M | $86.53M | $103.52M | $96.35M | $26.79M | $61K | $0 |
| Cash at End | $87.34M | $106.55M | $148.31M | $250.62M | $273.77M | $110.83M | $67.62M | $86.53M | $103.52M | $96.35M | $26.79M | $244K |