KKR Real Estate Finance: CRE Anxiety Will Last Through 2024 [Seeking Alpha]
KKR Real Estate Finance Trust Inc. (KREF)
Last kkr real estate finance trust inc. earnings: 4/29 04:02 pm
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US:NYSE Investor Relations:
kkrreit.com/company-overview/about-us
Company Research
Source: Seeking Alpha
The mREIT's book value dipped by 77 cents sequentially with the commons currently trading at a roughly 36% discount to book. It's now 10% dividend yield is still substantial. However, the new quarterly distribution is attached to the commons set to see material volatility in 2024. KKR Real Estate Finance ( NYSE: KREF ) has been forced to cut its quarterly dividend. The commercial real estate lender declared a $0.25 per share quarterly distribution, a 42% dip sequentially, and $1 per share annualized for a roughly 10% forward dividend yield. When I last covered the mortgage REIT, I highlighted insufficient dividend coverage of just 58% against its prior third-quarter distributable earnings. This prior setup embedded book value erosion, so a dividend cut was not only necessary but prudent, and comes against renewed regional banking angst on concerns over CRE exposure that's reminiscent of the same period a year ago when several banks folded. What's next for KREF after the cut? Li
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KREF
News
- KKR Real Estate Finance Trust Inc. (NYSE: KREF) had its price target lowered by analysts at Keefe, Bruyette & Woods from $10.00 to $9.75. They now have a "market perform" rating on the stock.MarketBeat
- KKR Real Estate Finance Trust Inc. (NYSE:KREF) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- KKR Real Estate Finance: The 15% Yield Likely Gets Cut, Again [Seeking Alpha]Seeking Alpha
- Compared to Estimates, KKR Real Estate (KREF) Q1 Earnings: A Look at Key Metrics [Yahoo! Finance]Yahoo! Finance
- KKR Real Estate Finance Trust Inc. Reports First Quarter 2024 ResultsBusiness Wire
KREF
Earnings
- 4/23/24 - Beat
KREF
Sec Filings
- 4/25/24 - Form 8-K
- 4/23/24 - Form 4
- 4/23/24 - Form 4
- KREF's page on the SEC website