KREF reports Q1 net loss of $0.13/share; distributable earnings $0.39, dividend cut to $0.25

KKR Real Estate Finance Trust Inc.

2024-Q1 EPS reported -$0.13

Net loss attributable to common stockholders $8.7M ($0.13/diluted), improved from $18.7M loss in Q4 2023.
Distributable Earnings of $26.7M ($0.39/share) covered the $0.25 dividend 1.54x.
CECL allowance increased by $33.3M ($0.48/share) primarily on risk-rated 5 senior office loans.
Loan portfolio $7.3B, 99% floating-rate, all-in yield 8.9%; received $335.7M in repayments including two full payoffs.
Liquidity $620.1M; dividend reduced to $0.25 from $0.43 in prior quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KKR Real Estate Finance Trust Inc. reported the quarter ended March 31, 2024 results: net income ($8.7) million, or ($0.13) per diluted share of common stock, EPS ($0.13) per diluted share of common stock.

Period: the quarter ended March 31, 2024
Net income: ($8.7) million, or ($0.13) per diluted share of common stock
EPS: ($0.13) per diluted share of common stock
Result: reported results

Exact text from the filing

KKR Real Estate Finance Trust Inc. (the “Company” or “KREF”) (NYSE: KREF) today reported its financial results for the quarter ended March 31, 2024. Reported net loss attributable to common stockholders of ($8.7) million, or ($0.13) per diluted share of common stock, for the three months ended March 31, 2024

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Source: SEC EDGAR

accession 0001631596-24-000015

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