NYSE$KREF
KKR Real Estate Finance Trust Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Reported a net loss due to unrealized Current Expected Credit Losses provision, but core earnings remained consistent with the previous year.
KKR Real Estate Finance Trust Inc. reported a net loss attributable to common stockholders of $35.2 million, or ($0.61) per share, due to an unrealized CECL provision of $55.3 million. Core Earnings were $25.3 million, or $0.44 per share, consistent with the previous year. The company maintained a strong liquidity position with $369.9 million in cash and committed $352.5 million to new loans.
- Net loss attributable to common stockholders was $35.2 million, or ($0.61) per share, impacted by a $55.3 million unrealized CECL provision.
- Core Earnings were $25.3 million, or $0.44 per share, consistent with the same period in the previous year.
- The company had a strong liquidity position with $369.9 million in cash and an additional $80.1 million of undrawn commitments.
- Committed $352.5 million to new floating-rate senior and mezzanine loans and funded an additional $55.7 million for previously closed loans.
Headline financials
Revenue & EPS history
KKR · Revenue · Quarterly
$32M
Forward guidance
CEO Matt Salem expressed confidence in the company's conservative business strategy and durable financing, emphasizing the focus on institutional quality real estate in top-tier U.S. markets and strong sponsor capitalization amidst the broader market volatility.
Tailwinds
- Company's first priority is the health and safety of all stakeholders.
- Adapted to remote working and continue to be highly efficient.
- Increased the frequency of communication with the Board of Directors, shareholders, borrowers, and lenders to ensure transparency.
- Differentiated conservative business strategy will help the company navigate this challenging market environment.
- Over $400 million of available liquidity including $370 million of cash at quarter end.
Headwinds
- Uncertainties created by the COVID-19 pandemic, including the projected impact of COVID-19 on our business, financial performance and operating results.
- 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.
- Adverse changes in the real estate and real estate capital markets.
- General volatility of the securities markets in which the Company participates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
-0.6%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-1.3%
Avg return
30 days after
29%
12 / 41 earnings
Positive
+15.3%
Q1 2020
Best reaction
-14.0%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -9.1% | -6.7% | -3.7% | |
| Q4 2025 | -3.7% | -11.7% | -12.2% | |
| Q3 2025 | -1.3% | +0.7% | -3.9% | |
| Q2 2025 | -0.5% | +0.5% | +3.3% | |
| Q1 2025 | -3.7% | -1.1% | -3.3% | |
| Q4 2024 | +9.7% | +10.6% | +6.3% | |
| Q3 2024 | -3.1% | -2.9% | -4.8% | |
| Q2 2024 | +14.3% | +13.0% | +11.3% | |
| Q1 2024 | -0.7% | -2.3% | -2.8% | |
| Q4 2023 | -14.0% | -19.3% | -16.0% | |
| Q3 2023 | -1.0% | -0.3% | +16.3% | |
| Q2 2023 | -3.1% | -1.5% | -9.6% | |
| Q1 2023 | -8.7% | -5.5% | -1.4% | |
| Q4 2022 | -4.6% | -4.6% | -18.0% | |
| Q3 2022 | -1.8% | +5.3% | -2.2% | |
| Q2 2022 | -0.2% | +3.5% | +3.2% | |
| Q1 2022 | -2.7% | -4.6% | +0.4% | |
| Q4 2021 | +0.0% | -1.1% | -6.3% | |
| Q3 2021 | +2.2% | -2.6% | -3.3% | |
| Q2 2021 | -0.2% | +0.6% | -1.0% | |
| Q1 2021 | +2.5% | +7.4% | +7.4% | |
| Q4 2020 | -1.4% | -0.8% | +1.6% | |
| Q3 2020 | +0.2% | -0.4% | +9.7% | |
| Q2 2020 | +0.8% | +4.5% | +9.5% | |
| Q1 2020 | +15.3% | +9.9% | +13.7% | |
| Q4 2019 | +0.5% | +0.4% | -53.6% | |
| Q3 2019 | -0.6% | -2.1% | +0.1% | |
| Q2 2019 | -0.8% | -2.2% | -5.6% | |
| Q1 2019 | +0.4% | +0.9% | -1.9% | |
| Q4 2018 | -0.3% | -0.5% | +0.3% | |
| Q3 2018 | +0.7% | +3.5% | -1.9% | |
| Q2 2018 | +0.3% | -3.2% | +1.8% | |
| Q1 2018 | +1.1% | +2.8% | +2.1% | |
| Q4 2017 | -1.8% | -0.1% | +1.6% | |
| Q4 2015 | -1.8% | -0.1% | +1.6% | |
| Q3 2016 | -1.8% | -1.6% | +3.5% | |
| Q3 2017 | -1.8% | -1.6% | +3.5% | |
| Q2 2017 | -2.3% | -0.6% | +3.1% | |
| Q2 2016 | -2.3% | -0.6% | +3.1% | |
| Q4 2016 | -0.4% | -2.2% | -2.4% | |
| Q1 2017 | -0.4% | -2.2% | -2.4% | |
| Q1 2016 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro