NYSE$KREF

KKR Real Estate Finance Trust Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported first quarter financial results.

KKR Real Estate Finance Trust Inc. reported net income attributable to common stockholders of $29.8 million, or $0.47 per basic share, and Distributable Earnings of $29.8 million, or $0.47 per diluted share, for the quarter ended March 31, 2022.

  • Originated and funded $843.6 million and $618.1 million, respectively, relating to nine floating-rate loans.
  • Current funded loan portfolio of $7.1 billion is 100.0% performing and 100.0% floating rate as of March 31, 2022.
  • Closed a $1.0 billion managed multifamily CLO with two-year reinvestment period providing $847.5 million of non-mark-to-market and non-recourse financing.
  • Increased the borrowing capacity on the corporate revolving credit facility to $520.0 million and extended the maturity date through March 2027.

Headline financials

Total Revenue

$40.8M

Previous: $37.4M+9.1%
EPS (adj)

$0.47

Previous: $0.55-14.5%
Free Cash Flow

$35.5M

Previous: $30.1M+17.9%
Net Income

$35.5M

Previous: $30.1M+17.9%
Operating Income

$23M

Previous: $23.9M-3.9%
Gross Profit

$29M

Previous: $29M-0.0%
Cash & Equivalents

$173M

Previous: $209M-17.3%
Total Assets

$7.15B

Previous: $5.27B+35.6%
Stock-Based Comp

$2.13M

Previous: $1.99M+6.6%

Revenue & EPS history

KKR · Revenue · Quarterly

$40.8M

Q1 2022+9.1%vs Q1 2021
Beat estimate in 7 of 16 quarters(44%)
ActualEstimate

Forward guidance

KREF is well positioned to capitalize on the opportunities in this market environment.

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 2022

Historical avgQ1 2022

-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

Earnings price reactions
QuarterReport dateReaction (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

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