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KKR Real Estate Finance Trust : Second Quarter 2020 Results

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08/03/2020 | 04:37pm EDT

KKR REAL ESTATE FINANCE TRUST INC. REPORTS

SECOND QUARTER 2020 FINANCIAL RESULTS

New York, NY, August 3, 2020 – KKR Real Estate Finance Trust Inc. (the “Company” or “KREF”) (NYSE: KREF) today reported its financial results for the quarter ended June 30, 2020.

Reported net income attributable to common stockholders of $28.6 million, or $0.52 per basic and diluted share of common stock, inclusive of unrealized Current Expected Credit Losses (“CECL”) benefit of $1.4 million, or $0.02 per basic and diluted share of common stock, for the three months ended June 30, 2020, compared to net loss attributable to common stockholders of $35.2 million, or ($0.61) per basic and diluted share of common stock, inclusive of CECL provision of $55.3 million, or ($0.96) per basic and diluted share of common stock, for the three months ended March 31, 2020.

Reported Core Earnings(1) of $25.0 million, or $0.45 per basic and diluted share of common stock, for the three months ended June 30, 2020, compared to Core Earnings of $25.3 million, or $0.44 per basic and diluted share of common stock, for the three months ended March 31, 2020.

Second Quarter 2020 Highlights

  • $431.1 million liquidity position, including $127.3 million of cash, $285.0 million of remaining undrawn capacity on the corporate revolving credit capacity (“Revolver”) and $18.8 million of undrawn commitments on secured financing facilities based on existing pledged collateral.
  • Current portfolio:
    • $5.3 billion funded portfolio is 99.9% performing with a weighted average risk rating of 3.1.
    • 99% floating-rate with a weighted average loan-to-value ratio (“LTV”)(2) of 66%.
    • Multifamily and office loans comprise 81% of the Company’s portfolio, while hospitality and retail loan comprise 8%.
  • Funded $77.8 million for loans closed prior to the second quarter and received repayments of $54.4 million.
  • Net borrowed $67.7 million on secured financing facilities and repaid $285.0 million on the Revolver.
  • As of June 30, 2020, 73% of the Company’s secured financing was completely non-mark-to-market, and the remaining balance is only mark-to-credit.
  • Extended the maturity on its master repurchase agreement with Goldman Sachs to October 2021(3).
  • Repurchased 389,086 shares of KREF’s common stock for $5.8 million at an average price of $14.92 per share. Year-to- date as of June 30, 2020, repurchased 2,037,637 shares of its common stock at an average per share price of $12.27 for a total of $25.0 million.
  • Book value was $1,030.2 million or $18.57 per share as of June 30, 2020, inclusive of CECL credit loss allowance of $64.3 million or ($1.16) per common share. Book value was $1,030.2 million or $18.45 per share as of March 31, 2020, inclusive of CECL credit loss allowance of $70.3 million or ($1.22) per common share.

Matt Salem, CEO of KREF, stated: “Our conservative investing strategy matched with best in class financing continues to deliver strong results. Our senior loan portfolio is comprised of institutional quality real estate located primarily in the top-ten U.S. real estate markets. We have a strong liquidity position which we will use to invest in the attractive market environment.”

  1. Although pursuant to the Company’s Management Agreement, the Company calculates the incentive compensation and base management fees due to KKR Real Estate Finance Manager LLC (the “Manager”) using Core Earnings before incentive compensation, beginning with the first quarter of 2020, the Company revised its definition of Core Earnings for reporting purposes to be net of incentive compensation, since KREF believes this is a more meaningful presentation of the economic performance of its common stock.
  2. LTV is generally based on the initial loan amount divided by the as-is appraised value as of the date the loan was originated or by the current principal amount as of the date of the most recent as-is appraised value.
  3. Does not reflect KREF’s option to extend the maturity date to October 31, 2023 subject to certain extension conditions.

1

Second Quarter 2020 Investment Activity

Funding of Previously Closed Loans

The Company funded approximately $77.8 million for loans closed prior to the quarter end.

Loan Repayments

The Company received approximately $54.4 million from loan repayments.

Portfolio Performance

Collected 99.8% and 99.8% of interest payments due on loan portfolio for the three months ended June 30, 2020 and for the month of July 2020, respectively. As of June 30, 2020, the average risk rating of the Company’s portfolio was 3.1 (Average Risk), weighted by total loan exposure, as compared to 3.0 (Average Risk) as of March 31, 2020. One mezzanine loan with an outstanding principal balance of $5.5 million was placed on nonaccrual status and $4.7 million was written off.

Quarter End Portfolio Summary

The following table sets forth certain information regarding the Company’s portfolio at June 30, 2020 ($ in millions):

Committed

Outstanding

Amortized

Max Remaining

Weighted

Investment

Principal

Principal

Carrying Value(C)

Average

Amount(A)

Amount(A)

Cost(B)

Term (Years)(D)(E)

LTV(D)

Senior Loans

$

5,712.8

$

5,195.6

$

5,171.4

$

5,109.7

3.7

66%

Mezzanine Loan

25.5

25.5

20.7

20.0

4.3

67

CMBS B-Pieces(F)

40.0

35.7

35.7

35.7

9.0

58

Total/Weighted Average

$

5,778.3

$

5,256.8

$

5,227.8

$

5,165.4

3.9

66%

  1. Senior loans include senior mortgages and similar credit quality investments, including junior participations in our originated senior loans for which we have syndicated the senior participations and retained the junior participations for our portfolio and excludes vertical loan syndications.
  2. Amortized cost represents the outstanding face amount of loan, net of applicable unamortized discounts, loan origination fees and write-off on one $5.5 million mezzanine loan uncollectable balance.
  3. Carrying value represents the amortized cost of loan, net of applicable allowance for credit losses.
  4. Weighted by current principal amount for our senior and mezzanine loans and by net equity for our CMBS B-Piece investments through an aggregator vehicle.
  5. Max remaining term (years) assumes all extension options are exercised, if applicable.
  6. Represents a $35.7 million investment in an aggregator vehicle that invests in CMBS B-Pieces with a net equity balance on a fair market value basis of $33.4 million.

Non-GAAP Financial Measures

Reconciliation of Core Earnings to Net Income Attributable to Common Stockholders

The table below reconciles Core Earnings and related diluted per share amounts to net income attributable to common stockholders and related diluted per share amounts, respectively, for the three months ended June 30, 2020 and March 31, 2020 and the three months ended June 30, 2020 and 2019 ($ in thousands, except per share data):

Three Months Ended

Per Diluted

Three Months Ended

Per Diluted

June 30, 2020

March 31, 2020

Share

Share

Net Income (Loss) Attributable to Common Stockholders

$

28,590

$

0.52

$

(35,164)

$

(0.61)

Adjustments

Non-cash equity compensation expense

1,374

0.02

1,607

0.03

Unrealized (gains) or losses(A)

973

0.01

3,444

0.06

Provision for credit losses, net

(1,366)

(0.02)

55,274

0.96

Mezzanine loan write-off

(4,650)

(0.08)

Non-cash convertible notes discount amortization

90

90

Core Earnings

$

25,011

$

0.45

$

25,251

$

0.44

Weighted average number of shares of common stock

55,504,077

57,432,611

outstanding, diluted

  1. Includes $0.2 million non-cash redemption value adjustment of our Special Non-Voting Preferred Stock, and $0.8 million of unrealized mark-to- market adjustment to our RECOP I’s underlying CMBS investments for the three months ended June 30, 2020. Includes $0.4 million non-cash redemption value adjustment of our Special Non-Voting Preferred Stock and $3.0 million of unrealized mark-to-market adjustment to our RECOP I’s underlying CMBS investments for the three months ended March 31, 2020.

Three Months Ended

Per Diluted

Three Months Ended

Per Diluted

June 30, 2020

June 30, 2019

Share

Share

Net Income (Loss) Attributable to Common Stockholders

$

28,590

$

0.52

$

17,381

$

0.30

Adjustments

Non-cash equity compensation expense

1,374

0.02

1,043

0.02

Unrealized (gains) or losses(A)

973

0.01

1,979

0.03

Provision for credit losses, net

(1,366)

(0.02)

Mezzanine loan write-off

(4,650)

(0.08)

Non-cash convertible notes discount amortization

90

90

Core Earnings

$

25,011

$

0.45

$

20,493

$

0.36

Weighted average number of shares of common stock

55,504,077

57,507,219

outstanding, diluted

  1. Includes $0.2 million non-cash redemption value adjustment of our Special Non-Voting Preferred Stock and $0.8 million of unrealized mark-to- market adjustment to our RECOP I’s underlying CMBS investments for the three months ended June 30, 2020. Includes ($0.2) million non-cash redemption value adjustment of our Special Non-Voting Preferred Stock and $2.2 million of unrealized loss on CMBS B-Pieces for the three months ended June 30, 2019.

Book Value

The Company’s book value per share of common stock was $18.57 at June 30, 2020, as compared to book value per share of common stock of $18.45 at March 31, 2020.

Book value per share as of June 30, 2020 includes the impact of CECL credit loss allowance of $64.3 million, or ($1.16) per common share. See Note 2 – Summary of Significant Accounting Policies, to our condensed consolidated financial statements included in the Form 10-Q for the period ended June 30, 2020 for detailed discussion of allowance for credit losses.

In addition, book value per share includes the impact of a $0.6 million, or ($0.01) per common share, non-cash redemption value adjustment to our redeemable Special Non-Voting Preferred Stock (“SNVPS”), resulting in a cumulative (since issuance of the SNVPS) decrease of $2.3 million, or ($0.04) per common share to our book value (“SNVPS Cumulative Impact”) as of June 30, 2020. Upon redemption of the SNVPS, our book value will increase as a result of a one-time gain, thus substantially

eliminating the SNVPS Cumulative Impact on our book value. See Note 9 Equity, to our condensed consolidated financial statements included in this Form 10-Q, for detailed discussion of the SNVPS.

Subsequent Events

The following events occurred subsequent to June 30, 2020:

Investing Activities

Funding of Previously Closed Loans

The Company funded approximately $29.8 million for previously closed loans.

Loan Repayments

The Company received approximately $3.3 million from loan repayments.

Dividends

In July 2020, the Company paid $23.9 million in dividends on its common stock, or $0.43 per share, with respect to the second quarter of 2020, to stockholders of record on June 30, 2020.

Teleconference Details:

The Company will host a conference call to discuss its financial results on Tuesday, August 4, 2020 at 11:00 a.m. Eastern Time. Members of the public who are interested in participating in the Company’s second quarter 2020 earnings teleconference call should dial from the U.S., (844) 784-1730, or from outside the U.S., +1 (412) 380-7410, shortly before 11:00 a.m. and reference the KKR Real Estate Finance Trust Inc. Teleconference Call; a pass code is not required. Please note the teleconference call will be available for replay beginning approximately two hours after the broadcast. To access the replay, callers from the U.S. should dial (877) 344-7529 and callers from outside the U.S. should dial +1 (412) 317-0088, and enter conference identification number 10146204.

Webcast:

The conference call will also be available on the Company’s website at www.kkrreit.com. To listen to a live broadcast, please go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the webcast will also be available for 30 days on the Company’s website.

Supplemental Information

The slide presentation accompanying this release and containing supplemental information about the Company’s financial results for the fiscal quarter ended June 30, 2020 may also be accessed through the investor relations section of the Company’s website at www.kkrreit.com.

About KKR Real Estate Finance Trust Inc.

KKR Real Estate Finance Trust Inc. (NYSE: KREF) is a real estate investment trust that primarily originates or acquires senior loans collateralized by institutional-quality commercial real estate assets that are owned and operated by experienced and well- capitalized sponsors and located in liquid markets with strong underlying fundamentals. The Company’s target assets also include mezzanine loans, preferred equity and other debt-oriented instruments with these characteristics. The Company is externally managed and advised by KKR Real Estate Finance Manager LLC, a registered investment adviser and an indirect subsidiary of KKR & Co. Inc., a leading global alternative investment firm with over 40-year history of leadership, innovation and investment excellence and $221.8 billion of assets under management as of June 30, 2020.

Additional information can be found on the Company’s website at www.kkrreit.com.

Forward-Looking Statements

This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company’s current views with respect to, among other things, its future operations and financial performance. You can identify these forward looking statements by the use of words such as “outlook,” “believe,” “expect,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. By their nature, forward-looking statements speak only as of the date they are made, are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify, in particular due to the uncertainties created by the COVID-19 pandemic, including the projected impact of COVID-19 on our business, financial performance and operating results. The forward-looking statements are based on the Company’s beliefs, assumptions and expectations, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to the Company or are within its control. Such forward-looking statements are subject to various risks and uncertainties, including, among other things: the severity and duration of the COVID-19 pandemic; potential risks and uncertainties relating to the ultimate geographic spread of COVID-19; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and the impacts of COVID-19 on the Company’s financial condition and business operations; deterioration in the performance of the properties securing our investments that may cause deterioration in the performance of our investments and, potentially, principal losses to us; difficulty or delays in redeploying the proceeds from repayments of our existing investments; the general political, economic and competitive conditions in the United States and in any foreign jurisdictions in which the Company invests; the level and volatility of prevailing interest rates and credit spreads; adverse changes in the real estate and real estate capital markets; general volatility of the securities markets

in which the Company participates; changes in the Company’s business, investment strategies or target assets; difficulty in obtaining financing or raising capital; adverse legislative or regulatory developments; reductions in the yield on the Company’s investments and increases in the cost of the Company’s financing; acts of God such as hurricanes, earthquakes and other natural disasters, pandemics such as COVID-19, acts of war and/or terrorism and other events that may cause unanticipated and uninsured performance declines and/or losses to the Company or the owners and operators of the real estate securing the Company’s investments; deterioration in the performance of properties securing the Company’s investments that may cause deterioration in the performance of the Company’s investments and, potentially, principal losses to the Company; defaults by borrowers in paying debt service on outstanding indebtedness; the adequacy of collateral securing the Company’s investments and declines in the fair value of the Company’s investments; adverse developments in the availability of desirable investment opportunities whether they are due to competition, regulation or otherwise; difficulty in successfully managing the Company’s growth, including integrating new assets into the Company’s existing systems; the cost of operating the Company’s platform, including, but not limited to, the cost of operating a real estate investment platform and the cost of operating as a publicly traded company; the availability of qualified personnel and the Company’s relationship with our Manager; KKR controls the Company and its interests may conflict with those of the Company’s stockholders in the future; the Company’s qualification as a REIT for U.S. federal income tax purposes and the Company’s exclusion from registration under the Investment Company Act of 1940; authoritative GAAP or policy changes from such standard-setting bodies such as the Financial Accounting Standards Board, the Securities and Exchange Commission (the “SEC”), the Internal Revenue Service, the New York Stock Exchange and other authorities that the Company is subject to, as well as their counterparts in any foreign jurisdictions where the Company might do business; and other risks and uncertainties, including those described under Part I-Item 1A. “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and under Part II – Item 1A. “Risk Factors” of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in this release. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and information included in this release and in the Company’s filings with the SEC. All forward-looking statements in this release speak only as of the date of this release. The Company undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.

CONTACT INFORMATION

Investor Relations:

KKR Real Estate Finance Trust Inc.

Michael Shapiro

Tel: +1-888-806-7781(U.S.) /+1-646-901-5920

KREF-IR@kkr.com

Media:

Kohlberg Kravis Roberts & Co. L.P. Kristi Huller or Cara Major

Tel: +1-212-750-8300 media@kkr.com

Definitions:

“Loan-to-value ratio”: Generally based on the initial loan amount divided by the as-is appraised value as of the date the loan was originated or by the current principal amount as of the date of the most recent as-is appraised value. For our CMBS B- Pieces, LTV is based on the weighted average LTV of the underlying loan pool.

“Internal Rate of Return”: IRR is the annualized effective compounded return rate that accounts for the time-value of money and represents the rate of return on an investment over a holding period expressed as a percentage of the investment. It is the discount rate that makes the net present value of all cash outflows (the costs of investment) equal to the net present value of cash inflows (returns on investment). It is derived from the negative and positive cash flows resulting from or produced by each transaction (or for a transaction involving more than one investment, cash flows resulting from or produced by each of the investments), whether positive, such as investment returns, or negative, such as transaction expenses or other costs of investment, taking into account the dates on which such cash flows occurred or are expected to occur, and compounding interest accordingly. The weighted average underwritten IRR for the investments shown reflects the returns underwritten by our Manager taking into account certain assumptions around leverage up to no more than the maximum approved advance rate, and

calculated on a weighted average basis assuming no dispositions, early prepayments or defaults but assuming that extension options are exercised and that the cost of borrowings remains constant over the remaining term. With respect to certain loans included in the weighted average underwritten IRR shown, the calculation assumes certain estimates with respect to the timing and magnitude of the initial and future fundings for the total loan commitment and associated loan repayments, and assumes no defaults. With respect to certain loans included in the weighted average underwritten IRR shown, the calculation assumes the one-month spot USD LIBOR as of the date the loan was originated. There can be no assurance that the actual weighted average IRRs will equal the weighted average underwritten IRRs shown.

“Core Earnings”: Used by the Company to evaluate the Company’s performance excluding the effects of certain transactions and GAAP adjustments the Company believes are not necessarily indicative of the current loan activity and operations. Core Earnings is a measure that is not prepared in accordance with GAAP. The Company defines Core Earnings for reporting purposes as net income (loss) attributable to stockholders or, without duplication, owners of the Company’s subsidiaries, computed in accordance with GAAP, including realized losses not otherwise included in GAAP net income (loss) and excluding (i) non-cash equity compensation expense, (ii) depreciation and amortization, (iii) any unrealized gains or losses or other similar non-cash items that are included in net income for the applicable reporting period, regardless of whether such items are included in other comprehensive income or loss, or in net income, and (iv) one-time events pursuant to changes in GAAP and certain material non-cash income or expense items after discussions between the Company’s Manager and board of directors and after approval by a majority of the independent directors. The exclusion of depreciation and amortization from the calculation of Core Earnings only applies to debt investments related to real estate to the extent the Company forecloses upon the property or properties underlying such debt investments.

The Company believes that providing Core Earnings on a supplemental basis to its net income as determined in accordance with GAAP is helpful to stockholders in assessing the overall performance of the Company’s business. Although pursuant to the Management Agreement with its Manager, the Company calculates the incentive compensation and base management fees due to its Manager using Core Earnings before incentive compensation, beginning with the first quarter of 2020, the Company revised its definition of Core Earnings for reporting purposes to be net of incentive compensation, since the Company believes this is a more meaningful presentation of the economic performance of its common stock.

Core Earnings should not be considered as a substitute for GAAP net income. The Company cautions readers that its methodology for calculating Core Earnings may differ from the methodologies employed by other REITs to calculate the same or similar supplemental performance measures, and as a result, the Company’s reported Core Earnings may not be comparable to similar measures presented by other REITs.

KKR Real Estate Finance Trust Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

(Amounts in thousands, except share and per share data)

June 30, 2020

December 31, 2019

Assets

Cash and cash equivalents(A)

$

127,250

$

67,619

Commercial mortgage loans, held-for-investment

5,113,531

4,931,042

Less: Allowance for credit losses

(62,399)

Commercial mortgage loans, held-for-investment, net

5,051,132

4,931,042

Equity method investments

33,606

37,469

Accrued interest receivable

16,860

16,305

Other assets

6,759

4,583

Total Assets

$

5,235,607

$

5,057,018

Liabilities and Equity

Liabilities

Secured financing agreements, net

$

3,152,652

$

2,884,887

Collateralized loan obligation, net

806,645

803,376

Convertible notes, net

139,766

139,075

Loan participations sold, net

64,978

64,966

Dividends payable

24,097

25,036

Accrued interest payable

4,275

6,686

Accounts payable, accrued expenses and other liabilities(B)

5,763

3,363

Due to affiliates

4,928

5,917

Total Liabilities

4,203,104

3,933,306

Commitments and Contingencies

Temporary Equity

Redeemable preferred stock

2,275

1,694

Permanent Equity

Preferred stock, 50,000,000 authorized (1 share with par value of $0.01 issued and

outstanding as of June 30, 2020 and December 31, 2019)

Common stock, 300,000,000 authorized (55,491,405 and 57,486,583 shares with par

value of $0.01 issued and outstanding as of June 30, 2020 and December 31, 2019,

555

575

respectively)

Additional paid-in capital

1,168,720

1,165,995

Accumulated deficit

(78,048)

(8,594)

Repurchased stock, 3,900,326 and 1,862,689 shares repurchased as of June 30, 2020

(60,999)

(35,958)

and December 31, 2019, respectively

Total KKR Real Estate Finance Trust Inc. stockholders’ equity

1,030,228

1,122,018

Total Permanent Equity

1,030,228

1,122,018

Total Liabilities and Equity

$

5,235,607

$

5,057,018

  1. Includes $8.0 million held in collateralized loan obligation as of June 30, 2020.
  2. Includes $1.9 million and $0.0 million of reserve for unfunded loan commitments as of June 30, 2020 and December 31, 2019, respectively.

KKR Real Estate Finance Trust Inc. and Subsidiaries

Condensed Consolidated Statements of Income (Unaudited)

(Amounts in thousands, except share and per share data)

Three Months Ended

Six Months Ended

June 30,

March 31,

June 30,

June 30,

June 30,

2020

2020

2019

2020

2019

Net Interest Income

Interest income

$

67,219

$

71,079

$

62,944

$

138,298

$

127,695

Interest expense

30,563

39,082

37,089

69,645

71,931

Total net interest income

36,656

31,997

25,855

68,653

55,764

Other Income

Income (loss) from equity method investments

297

(1,901)

868

(1,604)

1,993

Change in net assets related to CMBS consolidated

(1,551)

(1,209)

variable interest entities

Other income

196

360

671

556

1,153

Total other income (loss)

493

(1,541)

(12)

(1,048)

1,937

Operating Expenses

General and administrative

4,046

3,767

2,781

7,813

5,142

Provision for credit losses, net

(1,366)

55,274

53,908

Management fees to affiliate

4,218

4,299

4,288

8,517

8,575

Incentive compensation to affiliate

1,249

1,606

1,145

2,855

2,098

Total operating expenses

8,147

64,946

8,214

73,093

15,815

Income (Loss) Before Income Taxes, Preferred

29,002

(34,490)

17,629

(5,488)

41,886

Dividends and Redemption Value Adjustment

Income tax expense

77

82

280

159

289

Net Income (Loss)

28,925

(34,572)

17,349

(5,647)

41,597

Preferred Stock Dividends and Redemption Value

335

592

(32)

927

(489)

Adjustment

Net Income (Loss) Attributable to Common

$

28,590

$

(35,164)

$

17,381

$

(6,574)

$

42,086

Stockholders

Net Income (Loss) Per Share of Common Stock

Basic

$

0.52

$

(0.61)

$

0.30

$

(0.12)

$

0.73

Diluted

$

0.52

$

(0.61)

$

0.30

$

(0.12)

$

0.73

Weighted Average Number of Shares of Common Stock

Outstanding

Basic

55,491,937

57,346,726

57,412,522

56,419,332

57,400,023

Diluted

55,504,077

57,346,726

57,507,219

56,419,332

57,492,296

Dividends Declared per Share of Common Stock

$

0.43

$

0.43

$

0.43

$

0.86

$

0.86

Disclaimer

KKR Real Estate Finance Trust Inc. published this content on 03 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2020 20:36:09 UTC

Latest news on KKR REAL ESTATE FINANCE TR

Sales 2020 116 M

Net income 2020 36,9 M

Net Debt 2020 3 645 M

P/E ratio 2020 24,1x
Yield 2020 10,1%
Capitalization 924 M
924 M
EV / Sales 2020 39,4x
EV / Sales 2021 36,9x
Nbr of Employees
Free-Float 55,7%

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KKR Real Estate Finance Trust Inc. Technical Analysis Chart | MarketScreener

Technical analysis trends KKR REAL ESTATE FINANCE TR

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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price
18,80 $
Last Close Price
16,65 $
Spread / Highest target 20,1%
Spread / Average Target 12,9%
Spread / Lowest Target 2,10%





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