KKR Real Estate Finance Trust reports Q3 net loss of $48.4M, driven by $80.6M CECL increase

KKR Real Estate Finance Trust Inc.

2022-Q3 EPS reported $0.01

Net loss attributable to common stockholders $(48.4)M ($(0.70)/share) vs. net income $19.4M ($0.28) in Q2.
Distributable Earnings $34.4M ($0.50/share) up from $33.1M ($0.48) in Q2.
CECL allowance increased $80.6M to $114.9M, primarily due to office sector uncertainty.
Portfolio $7.6B, 100% floating rate, avg LTV 67%; liquidity $916.2M incl. $183.3M cash.
Repurchased 587,890 shares at avg $17.42; YTD total 2,085,370 shares at $17.13.

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