---
schema_version: "secwatch.filing_event.v1"
accession: "0001631596-23-000022"
form_type: "8-K"
ticker: "KREF"
cik: "0001631596"
company_name: "KKR Real Estate Finance Trust Inc."
filed_at: "2023-04-24T23:59:59+00:00"
generated_at: "2026-06-16T18:57:10.882809+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001631596-23-000022
- form_type: 8-K
- ticker: KREF
- cik: 0001631596
- company_name: KKR Real Estate Finance Trust Inc.
- filed_at: 2023-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1631596/000163159623000022/0001631596-23-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1631596/000163159623000022/kref-20230424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001631596-23-000022
- JSON: https://secwatch.observer/filing/0001631596-23-000022.json
- Plain text: https://secwatch.observer/filing/0001631596-23-000022.txt

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