secwatch.observer — SEC 8-K summary
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Issuer:     KKR Real Estate Finance Trust Inc. (KREF)
CIK:        0001631596
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0001631596-23-000022
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1631596/000163159623000022/0001631596-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1631596/000163159623000022/kref-20230424.htm
  HTML page:      https://secwatch.observer/filing/0001631596-23-000022

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