KREF reports Q2 net income $0.29/share but distributable loss of $1.57 on $136M realized losses

KKR Real Estate Finance Trust Inc.

2024-Q2 EPS reported $0.17

Net income attributable to common stockholders of $20.2M ($0.29 diluted EPS), vs net loss of ($8.7M) in Q1 2024.
Distributable loss of ($108.7M) or ($1.57) per share, driven by $136M realized losses on deed-in-lieu and write-offs.
Received $384.5M in loan repayments; repaid $241.5M in financing; debt-to-equity ratio reduced to 1.9x.
Book value per share $15.24, down from $16.38 a year ago; CECL allowance of $115M ($1.65/share).
Dividend maintained at $0.25 per share (down from $0.43 in Q2 2023); liquidity position $643.9M.

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