KKR Real Estate Finance Trust Q1 net loss $0.45/share; CECL reserve up $60.5M

KKR Real Estate Finance Trust Inc.

2023-Q1 EPS reported -$0.45

Net loss of $30.8M ($0.45 diluted) vs. net income of $14.6M ($0.21) in Q4 2022, driven by $60.5M CECL provision.
Distributable Earnings of $33.1M ($0.48/share) cover the $0.43 quarterly dividend.
Book value per share fell to $17.16 from $18.00 at Q4 2022; CECL allowance now $171.6M ($2.48/share).
Loan portfolio $7.9B, 100% floating rate, weighted avg yield 8.5%; liquidity $892M including $254M cash.
Extended $600M repurchase facility to Dec 2025 and $500M warehouse to Mar 2026; 76% financing is non-mark-to-market.

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