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KREF 
KKR Real Estate Finance Trust Inc (KREF)
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Upturn Advisory Summary
12/08/2025: KREF (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
5 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $10.45
1 Year Target Price $10.45
| 2 | Strong Buy |
| 2 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -6.27% | Avg. Invested days 41 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/08/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 549.05M USD | Price to earnings Ratio - | 1Y Target Price 10.45 |
Price to earnings Ratio - | 1Y Target Price 10.45 | ||
Volume (30-day avg) 5 | Beta 0.91 | 52 Weeks Range 7.78 - 10.66 | Updated Date 12/3/2025 |
52 Weeks Range 7.78 - 10.66 | Updated Date 12/3/2025 | ||
Dividends yield (FY) 11.95% | Basic EPS (TTM) -0.35 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -0.89% | Operating Margin (TTM) 41.96% |
Management Effectiveness
Return on Assets (TTM) -0.06% | Return on Equity (TTM) -0.3% |
Valuation
Trailing PE - | Forward PE 11.67 | Enterprise Value 5371043328 | Price to Sales(TTM) 8.85 |
Enterprise Value 5371043328 | Price to Sales(TTM) 8.85 | ||
Enterprise Value to Revenue 34.32 | Enterprise Value to EBITDA - | Shares Outstanding 65488680 | Shares Floating 53987558 |
Shares Outstanding 65488680 | Shares Floating 53987558 | ||
Percent Insiders 2.2 | Percent Institutions 78.42 |
Upturn AI SWOT
KKR Real Estate Finance Trust Inc
Company Overview
History and Background
KKR Real Estate Finance Trust Inc. (KKR-T) was formed in 2017 as a real estate investment trust (REIT) managed by KKR, a global investment firm. KKR-T focuses on originating, acquiring, and managing a portfolio of commercial real estate loans. Its evolution has been marked by its integration into KKR's broader real estate investment platform, allowing it to leverage KKR's extensive network and expertise.
Core Business Areas
- Commercial Real Estate Lending: KKR-T originates and acquires a diversified portfolio of senior loans, subordinate debt, and other real estate-related debt investments, primarily in the U.S. commercial real estate market. These loans are typically secured by properties such as multifamily, industrial, office, and retail assets.
- Loan Portfolio Management: The company actively manages its loan portfolio, including monitoring loan performance, managing risk, and seeking opportunities for loan sales or securitization.
Leadership and Structure
KKR Real Estate Finance Trust Inc. is externally managed by an affiliate of KKR & Co. Inc. The management team includes experienced professionals in real estate finance and investment. The specific leadership can be found in their investor relations materials, but the structure involves a board of directors overseeing the company's strategy and operations, with KKR providing the day-to-day management.
Top Products and Market Share
Key Offerings
- Competitors: Starwood Property Trust (STWD), Apollo Commercial Real Estate Finance (ARI), Blackstone Mortgage Trust (BXMT), Rialto Mortgage Finance, various banks and insurance companies.
- Description: These are the primary financing products offered by KKR-T, representing the first lien on a commercial property. They are typically offered to real estate owners and developers to finance acquisitions, refinancing, or development projects. Market share for specific loan types is difficult to pinpoint as it's a fragmented market, but KKR-T competes with other balance sheet lenders, CMBS originators, and debt funds. Competitors include Starwood Property Trust, Apollo Commercial Real Estate Finance, and various other REITs and private debt funds.
- Product Name 1: Senior Commercial Real Estate Loans
- Competitors: Ares Management (ARES), Thoma Bravo, various private equity real estate funds.
- Description: KKR-T also provides subordinate debt and preferred equity investments, which carry higher risk but offer potentially higher returns. These are used to fill capital gaps in transactions where senior debt alone is insufficient. This segment also sees competition from specialized debt funds and private equity firms.
- Product Name 2: Subordinate Debt and Preferred Equity
Market Dynamics
Industry Overview
The commercial real estate debt market is influenced by interest rate environments, economic growth, property market fundamentals, and capital availability. The U.S. market is large and diverse, with ongoing demand for financing across various property types.
Positioning
KKR-T is positioned as a significant player in the U.S. commercial real estate debt market, leveraging KKR's global reach, extensive deal sourcing capabilities, and deep industry expertise. Its competitive advantages include access to KKR's broader capital markets platform and a disciplined approach to credit underwriting.
Total Addressable Market (TAM)
The total addressable market for commercial real estate debt financing in the U.S. is in the trillions of dollars, encompassing all forms of debt used to acquire, develop, and recapitalize commercial properties. KKR-T, as a focused REIT, targets a significant, but not exhaustive, portion of this TAM, focusing on middle-market to large-cap loans where its expertise can be best applied.
Upturn SWOT Analysis
Strengths
- Strong affiliation with KKR & Co. Inc., providing access to resources, expertise, and deal flow.
- Diversified portfolio of commercial real estate debt investments.
- Experienced management team with deep industry knowledge.
- Disciplined underwriting and risk management approach.
- Access to diverse funding sources.
Weaknesses
- Reliance on external management and advisory services.
- Sensitivity to interest rate fluctuations and credit market conditions.
- Potential for higher leverage compared to some other REITs.
- Limited public brand recognition compared to larger financial institutions.
Opportunities
- Growth in demand for commercial real estate financing across various sectors (e.g., industrial, multifamily).
- Potential for strategic acquisitions or joint ventures to expand the portfolio.
- Opportunities to capitalize on market dislocations or distressed opportunities.
- Expansion into new geographic markets or property types.
Threats
- Economic downturns impacting commercial real estate values and tenant demand.
- Rising interest rates increasing borrowing costs and impacting loan performance.
- Increased competition from other debt providers, including private credit funds.
- Regulatory changes affecting real estate finance or REITs.
- Cybersecurity risks and data breaches.
Competitors and Market Share
Key Competitors
- Starwood Property Trust (STWD)
- Apollo Commercial Real Estate Finance (ARI)
- Blackstone Mortgage Trust (BXMT)
- PIMCO High Yield Corporate Bond Index Fund (YLD)
- Broadmark Realty Capital Inc. (BRMK)
Competitive Landscape
KKR-T competes in a dynamic market with numerous players, including other publicly traded REITs, private debt funds, banks, and insurance companies. Its advantages lie in its affiliation with KKR, which offers significant advantages in deal sourcing, underwriting expertise, and access to capital. However, it faces competition from larger, more established entities and specialized funds with niche expertise.
Growth Trajectory and Initiatives
Historical Growth: Historically, KKR-T has focused on growing its loan portfolio through originations and acquisitions, supported by KKR's platform. Growth has been influenced by market conditions and the availability of attractive lending opportunities.
Future Projections: Future growth projections would depend on analyst estimates of net interest income growth, new loan originations, and the company's ability to manage its cost of capital. Analysts typically forecast earnings per share and dividend growth.
Recent Initiatives: Recent initiatives might include strategic partnerships, expansions into specific real estate sectors experiencing strong demand, or efforts to optimize its capital structure. Specific initiatives would be detailed in their quarterly and annual reports.
Summary
KKR Real Estate Finance Trust Inc. is a well-positioned commercial real estate debt provider leveraging KKR's extensive resources. Its strengths lie in its experienced management, disciplined approach, and diversified portfolio. However, it faces risks from economic downturns and rising interest rates. Continued focus on originating quality loans and managing its balance sheet effectively will be key to its future success. Competitors are numerous and diverse, requiring KKR-T to maintain its competitive edge through strategic execution.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Investor Relations Filings (SEC EDGAR)
- Financial Data Aggregators (e.g., Bloomberg, Refinitiv, Yahoo Finance)
- Industry Research Reports
Disclaimers:
This JSON output is generated for informational purposes only and does not constitute investment advice. Financial data and market share figures are estimates and may not be perfectly up-to-date. Investors should conduct their own due diligence before making any investment decisions. Market share data is illustrative and based on general industry perception.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About KKR Real Estate Finance Trust Inc
Exchange NYSE | Headquaters New York, NY, United States | ||
IPO Launch date 2017-05-05 | CEO & Director Mr. Matthew A. Salem | ||
Sector Real Estate | Industry REIT - Mortgage | Full time employees - | Website https://www.kkrreit.com |
Full time employees - | Website https://www.kkrreit.com | ||
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. The company engages in the origination and purchase of credit investments related to CRE, including leveraged and unleveraged commercial real estate loans. It 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.
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