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Kkr Real Estate Finance Trust Inc (KREF)
NYSE:KREF
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.11Last Year’s EPS
-$0.37Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 21, 2024
|% Change Since: -9.59%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a mixed sentiment. While KREF has made significant progress in reducing risk within its loan portfolio and improving liquidity, challenges remain due to loan downgrades and a GAAP net loss. The company is optimistic about future opportunities, particularly in increased transaction volumes and loan repayments.Company Guidance
During the KREF Q3 2024 earnings call, the company reported a GAAP net loss of $13 million or $0.19 per share, influenced by a CECL allowance increase of $0.52 per share due to the downgrade of two loans. The book value per share decreased by 2.6% quarter-over-quarter to $14.84. Despite these challenges, KREF generated distributable earnings of $25.9 million or $0.31 per share, surpassing the quarterly dividend of $0.25 per share. The company highlighted an active investment year with $4.5 billion of equity invested in the U.S. real estate market and noted a strong real estate credit pipeline averaging approximately $20 billion per week. Loan repayments in Q3 totaled $290 million, exceeding fundings of $55 million, marking the fifth quarter out of the last six where repayments outpaced fundings. KREF's financing capacity was reported at $8.3 billion, with $638 million in liquidity. Despite challenges, the company expressed optimism about future opportunities, particularly in non-bank lending and CMBS, as banks shift focus from direct mortgage origination.Increased Loan Repayments
KREF received $290 million in loan repayments compared to $55 million in fundings during Q3, with full repayments across 4 loans. Year-to-date, repayments have exceeded $1 billion, surpassing the original expectation of $1 billion for the full year.
Improved Transaction Volumes
Transaction volumes within KREF's real estate credit pipeline are up 40% from the beginning of the year, with the pipeline averaging approximately $20 billion a week.
Reduced Risk in Loan Portfolio
4-rated loans now represent only 3% of the total portfolio, the lowest since Q4 2019. KREF reported distributable earnings prior to realized losses of $0.40 per share, covering the $0.25 dividend.
Strong Liquidity Position
KREF has $638 million of liquidity at quarter end, with $109 million of cash on hand and $475 million of undrawn revolver capacity. 79% of financing is fully non-mark-to-market.
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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
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KREF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $11.68 | $11.67 | -0.09% |
| Jul 22, 2024 | $9.89 | $11.33 | +14.56% |
| Apr 23, 2024 | $9.55 | $9.32 | -2.41% |
| Feb 06, 2024 | $10.94 | $9.43 | -13.80% |
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.
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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 Feb 11, 2025, TBA Not Confirmed.
What is Kkr Real Estate Finance Trust Inc (KREF) earnings time?
Kkr Real Estate Finance Trust Inc (KREF) earnings time is at Feb 11, 2025, TBA Not 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 2024 (Q4) is $0.11.
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