---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-005088"
form_type: "8-K"
ticker: "KREF"
cik: "0001631596"
company_name: "KKR Real Estate Finance Trust Inc."
filed_at: "2026-02-03T23:59:59+00:00"
generated_at: "2026-05-16T05:20:16.206907+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# KREF reports Q4 net loss of $0.49/share; CECL allowance rises $43.7M on risk-rated 5 loans

## Summary
- Net loss of $32.0M in Q4 ($0.49 diluted EPS); full year loss $69.9M ($1.05/share).
- Distributable Earnings (non-GAAP) of $14.4M ($0.22/diluted share) in Q4; full year $26.3M ($0.39).
- CECL allowance increased $43.7M in Q4 to $204.1M ($3.15/share), primarily for risk-rated 5 loans.
- Book value per share fell to $13.04 from $13.78 in prior quarter; dividend held at $0.25/share.
- Liquidity $887M; new $250M term lending and £300M credit agreements entered in Q4.

## SEC filing metadata
- accession: 0001628280-26-005088
- form_type: 8-K
- ticker: KREF
- cik: 0001631596
- company_name: KKR Real Estate Finance Trust Inc.
- filed_at: 2026-02-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1631596/000162828026005088/0001628280-26-005088-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1631596/000162828026005088/kref-20260203.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-005088
- JSON: https://secwatch.observer/filing/0001628280-26-005088.json
- Plain text: https://secwatch.observer/filing/0001628280-26-005088.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.