Financial Performance - Net interest income for the three months ended September 30, 2024, was $37,005, down 17.5% from $44,612 in the same period of 2023[13]. - Net loss attributable to common stockholders for the three months ended September 30, 2024, was $(12,991), a decrease from a profit of $21,401 in 2023[13]. - Basic and diluted net income (loss) per share of common stock was $(0.19) for the three months ended September 30, 2024, compared to $0.31 in the same period of 2023[13]. - The net income for the quarter ending September 30, 2024, was a loss of $7,328,000, compared to a net income of $25,528,000 for the previous quarter[14]. - For the three months ended September 30, 2024, KREF reported a net loss of $7.388 million compared to a net income of $27.141 million for the same period in 2023, representing a significant decline[150]. - For the nine months ended September 30, 2024, KREF's net income was $15.336 million, compared to a net loss of $17.964 million for the same period in 2023[150]. Asset and Liability Changes - Total assets decreased from $7,547,618 to $6,774,042, a decline of approximately 10.2% from December 31, 2023, to September 30, 2024[12]. - Total liabilities decreased from $6,143,436 to $5,362,661, a decline of approximately 12.7% from December 31, 2023, to September 30, 2024[12]. - Cash and cash equivalents decreased from $135,898 to $108,795, a decline of approximately 20%[12]. - As of September 30, 2024, total equity for KKR Real Estate Finance Trust Inc. was $1,411,381,000, reflecting a decrease from $1,439,232,000 at June 30, 2024[14]. - The accumulated deficit increased to $(367,871,000) as of September 30, 2024, from $(340,437,000) at March 31, 2024[14]. Credit Losses and Provisions - Provision for credit losses increased significantly to $38,200 for the three months ended September 30, 2024, compared to $8,814 in the same period of 2023, marking a rise of 333.5%[13]. - The company reported a provision for credit losses of $76,011, down from $125,616 in the previous year[18]. - KKR's allowance for credit losses increased from $(210,470) thousand as of December 31, 2023 to $(148,013) thousand as of September 30, 2024[84]. - As of September 30, 2024, the allowance for credit losses was $150.9 million, with a CECL provision of $76.0 million for the nine months ended September 30, 2024, primarily due to additional reserves for risk-rated 5 loans in the office and life science sectors[89]. Dividends and Shareholder Returns - Dividends declared per share of common stock decreased to $0.25 from $0.43 in the same period of 2023, a reduction of 41.9%[13]. - KREF's board of directors declared total dividends of $51.994 million on common stock for the nine months ended September 30, 2024, compared to $89.143 million for the same period in 2023[137]. - KREF declared a dividend of $0.25 per share of common stock for stockholders of record as of September 30, 2024, and a dividend of $0.41 per share for its 6.50% Series A Cumulative Redeemable Preferred Stock, representing an annual dividend of $1.625 per share[57]. Loan Portfolio and Financing - KREF's commercial real estate loans held-for-investment, net, were $2,240,673,000 as of September 30, 2024, down from $2,273,784,000 at the end of 2023, indicating a decrease of about 1.5%[117]. - The total outstanding principal for commercial real estate loans was $7.37 billion as of September 30, 2024, compared to $7.34 billion as of December 31, 2023, reflecting a slight increase[87]. - The total principal amount of senior loans is $9,496.6 million, with an outstanding principal of $6,339.7 million[200]. - The company has future funding commitments of $508.9 million related to investments in commercial real estate loans as of September 30, 2024[154]. - The weighted average coupon rate was 8.1% with a floating rate loan percentage of 98.7% as of September 30, 2024[77]. Real Estate Owned (REO) Operations - Real estate owned, held for investment, net increased from $82,091 to $262,267, reflecting a significant growth in this asset category[12]. - Total revenue from REO operations for the nine months ended September 30, 2024, was $19.3 million, up from $6.0 million in the same period of 2023[103]. - KREF's rental income for the three months ended September 30, 2024, was $2.43 million, compared to $1.65 million for the same period in 2023[103]. Risk Management and Credit Quality - KREF evaluates credit quality indicators of loans classified as held-for-investment at least quarterly, using a five-point risk rating scale from "Very Low Risk" to "Impaired/Loss Likely"[66]. - KREF's loans are placed on nonaccrual status when principal or interest is 90 days or more past due, unless the loan is well secured and in the process of collection[65]. - The company actively manages its portfolio and assesses credit quality by quarterly evaluating property performance and borrower financials[204]. - The company evaluates macroeconomic conditions, real estate fundamentals, and micro-market dynamics in its risk assessment[204]. Market Conditions and Economic Outlook - The macroeconomic environment has been characterized by significant volatility, impacting commercial real estate values and transaction activity[182]. - The Federal Reserve's interest rate reduction of 50 basis points on September 18, 2024, has not fully alleviated the challenges posed by elevated interest rates[183]. - Future outlook includes potential market expansion and new product development in the life science sector, which is currently a focus area[198].

KKR REAL ESTATE FINANCE TRUST INC. REPORTS THIRD QUARTER 2024 FINANCIAL RESULTS New York, NY, October 21, 2024 - KKR Real Estate Finance Trust Inc. (the "Company" or "KREF") (NYSE: KREF) today reported its financial results for the quarter ended September 30, 2024. Reported net loss attributable to common stockholders of ($13.0) million, or ($0.19) per diluted share of common stock, for the three months ended September 30, 2024, compared to net income attributable to common stockholders of $20.2 million, or ...

KKR Real Estate Finance (KREF) shares soared 5.7% in the last trading session to close at $12.24. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.4% gain over the past four weeks. Shares of KREF witnessed a strong price increase as long-term bond yields have declined with the Fed's announcement of an interest rate cut starting this month. This resulted in a decline in mortgage rates. Housing affordability challenges are expecte ...

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, July 30: Spotify Technology S.A. (SPOT) : Thisaudio streaming company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 19.3% over the last 60 days. Spotify's shares gained 13.8% over the last three months compared with the S&P 500's advanced of 8.9%. The company possesses a Momentum Score of A. Newmont Corporation (NEM) : This gold mining company has ...

The upward trend in estimate revisions for this real estate finance company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core. Consensus earnings estimates for the next quarter and full year have moved considerably higher for KKR Real Est ...

KKR Real Estate Finance Trust Inc. (NYSE:KREF) Q2 2024 Earnings Conference Call July 23, 2024 10:00 AM ET Company Participants Jack Switala - Investor Relations Matt Salem - Chief Executive Officer Patrick Mattson - President & Chief Operating Officer Conference Call Participants Stephen Laws - Raymond James Rick Shane - JPMorgan Don Fandetti - Wells Fargo Jade Rahmani - KBW Steve Delaney - JMP Securities Tom Catherwood - BTIG Operator Good morning, and welcome to the KKR Real Estate Finance Trust Incorpora ...

JULY 22, 2024 | --- | --- | |-------|-----------| | | | | Senior loans secured primarily by | | | transitional, institutional | Conservative liability management focused on | | multifamily and industrial | diversified non-mark-to-market | | properties owned by high quality sponsors | financing | Dividend declared per share | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------|---------|--------|-------------|-------|--------|--------|---------| | ($ in Millions) | | Net Income and Distributab ...

KKR Real Estate Finance (KREF) came out with quarterly earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates four times. What's Next for KKR Real Estate? While KKR Real Estate has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the ...

• adverse developments in the availability of attractive loan and other investment opportunities whether they are due to competition, regulation or otherwise, could adversely affect our results of operations; • global economic trends and economic conditions, including heightened inflation, slower growth or recession, changes to fiscal and monetary policy, higher interest rates, labor shortages, currency fluctuations and challenges in global supply chains; • increased competition from entities engaged in mor ...

KKR REAL ESTATE FINANCE TRUST INC. REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS New York, NY, July 22, 2024 - KKR Real Estate Finance Trust Inc. (the "Company" or "KREF") (NYSE: KREF) today reported its financial results for the quarter ended June 30, 2024. Reported net income attributable to common stockholders of $20.2 million, or $0.29 per diluted share of common stock, for the three months ended June 30, 2024, compared to net loss attributable to common stockholders of ($8.7) million, or ($0.13) per di ...