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KKR Real Estate Finance Trust Inc., a mortgage real estate investment trust, focuses primarily on originating and acquiring transitional senior loans secured by commercial real estate (CRE) assets in the United States. It engages in the origination and purchase of credit investments related to CRE, including leveraged and unleveraged commercial real estate loans. The company has also elected to be taxed as a real estate investment trust and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. KKR Real Estate Finance Trust Inc. was incorporated in 2014 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $113M | - | $-47M | $67M | -3.8% | -27.2% | -232.2% |
| 2024 | $155M | - | $36M | $124M | 2.5% | -11.4% | - |
| 2023 | $175M | - | $-31M | $154M | -2.2% | 0.3% | -181.0% |
| 2022 | $175M | - | $38M | $139M | 2.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 174.73 | 175.22 | 155.17 | 112.98 |
| Pretax Income | 37.65 | -30.95 | 34.58 | -50.65 |
| Tax Provision | 0.06 | 0.71 | 0.25 | -0.16 |
| Net Income | 38.10 | -30.85 | 35.59 | -47.05 |
| Net Income Common Stockholders | 15.37 | -53.92 | 13.07 | -69.89 |
| Interest Expense | 236.09 | 458.80 | 412.91 | 322.96 |
| Interest Income | 421.97 | 640.41 | 564.63 | 435.60 |
| Selling General And Administration | 17.62 | 18.79 | 18.41 | 18.06 |
| Normalized Income | 29.15 | -37.60 | 12.89 | -63.52 |
| Basic EPS | 0.23 | -0.78 | 0.19 | -1.05 |
| Diluted EPS | 0.23 | -0.78 | 0.19 | -1.05 |
| Tax Effect Of Unusual Items | 0.01 | 1.79 | 0.16 | 0.05 |
| Tax Rate For Calcs | 0 | 0.21 | 0.01 | 0 |
| Total Unusual Items | 8.97 | 8.54 | 22.87 | 16.52 |
| Total Unusual Items Excluding Goodwill | 8.97 | 8.54 | 22.87 | 16.52 |
| Net Income From Continuing Operation Net Minority Interest | 38.10 | -30.85 | 35.59 | -47.05 |
| Reconciled Depreciation | 0 | 0 | 0.98 | 2.60 |
| Net Interest Income | 185.87 | 181.61 | 151.72 | 112.64 |
| Net Income From Continuing And Discontinued Operation | 38.10 | -30.85 | 35.59 | -47.05 |
| Diluted Average Shares | 67.55 | 69.18 | 69.40 | 66.81 |
| Basic Average Shares | 67.55 | 69.18 | 69.40 | 66.81 |
| Diluted NI Availto Com Stockholders | 15.37 | -53.92 | 13.07 | -69.89 |
| Otherunder Preferred Stock Dividend | 1.43 | 1.76 | 1.22 | 1.53 |
| Preferred Stock Dividends | 21.30 | 21.30 | 21.30 | 21.30 |
| Minority Interests | 0.51 | 0.81 | 1.26 | 3.44 |
| Net Income Including Noncontrolling Interests | 37.59 | -31.66 | 34.33 | -50.49 |
| Net Income Continuous Operations | 37.59 | -31.66 | 34.33 | -50.49 |
| Gain On Sale Of Security | 0 | 0 | -0.61 | -0.07 |
| General And Administrative Expense | 17.62 | 18.79 | 18.41 | 18.06 |
| Other Gand A | 9.82 | 10.69 | 10.11 | 10.16 |
| Salaries And Wages | 7.80 | 8.10 | 8.30 | 7.90 |
| Operating Revenue | 174.73 | 175.22 | 155.17 | 112.98 |
| Other Non Interest Expense | 11.75 | 13.68 | 23.10 | 25.68 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| KKR Real Estate Finance Trust Inc.this co. | KREF | $396M | - | 0.46 | -3.8% | - |
| The Real Brokerage Inc. | REAX | $461M | - | 8.74 | -15.7% | -61.89 |
| Chatham Lodging Trust | CLDT | $429M | 62.29 | 0.56 | 1.9% | 9.11 |
| Gladstone Land Corporation | LAND | $407M | - | 0.55 | 2.0% | 13.18 |
| FRP Holdings, Inc. | FRPH | $398M |
| 115.44 |
| 0.93 |
| 0.7% |
| 44.40 |
| FrontView REIT, Inc. | FVR | $398M | - | 1.00 | -0.8% | 16.32 |
| Claros Mortgage Trust, Inc. | CMTG | $363M | - | 0.24 | -31.9% | - |
| Alpine Income Property Trust, Inc. | PINE | $339M | - | 1.01 | -0.9% | 14.86 |
| NexPoint Real Estate Finance, Inc. | NREF | $328M | 5.03 | 0.69 | 12.7% | - |
| Peer Median | - | 62.29 | 0.81 | -0.0% | 14.02 | |