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:   2023-10-23T23:59:59+00:00
Accession:  0001631596-23-000041
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KREF reports Q3 net income $0.31/sh, distributable earnings $0.25/sh; Chicago loan restructured with $15M write-off
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- Net income of $21.4M ($0.31 diluted EPS) vs. net loss of ($25.8M) in Q2 2023.
- Distributable earnings of $17.4M ($0.25/sh) down from $33.1M ($0.48/sh) in Q2; includes $15M subordinated note write-off.
- Book value per share $16.29 vs $16.38 in Q2; CECL allowance $221.7M ($3.21/sh).
- Restructured $103.4M senior office loan in Chicago; wrote off $15M subordinated note.
- Portfolio: $7.9B loans, 99% floating rate, 8.9% all-in yield, 65% LTV; 96% interest collected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1631596/000163159623000041/0001631596-23-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1631596/000163159623000041/kref-20231023.htm
  HTML page:      https://secwatch.observer/filing/0001631596-23-000041

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