KREF Q2 net income $19.4M ($0.28/sh), distributable earnings $33.1M ($0.48/sh); originations $1.03B

KKR Real Estate Finance Trust Inc.

2022-Q2 EPS reported $0.74

Net income $19.4M ($0.28 diluted) vs $29.8M ($0.46) in Q1; distributable earnings $33.1M ($0.48) vs $29.8M ($0.47).
Originated $1.03B floating-rate multifamily/industrial loans; funded $948M; repaid $444M; portfolio $7.8B 100% performing.
Completed 2.75M share offering at $19.51 for $53.7M net; repurchased 1.04M shares at $17.28 avg ($18.1M) in June.
Added $450M non-mark-to-market financing facilities; increased revolver to $610M with March 2027 maturity.
Book value $19.36/sh; CECL allowance $34.3M increased by $11.8M during Q2; average risk rating 3.0.

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