NYSE$KREF

KKR Real Estate Finance Trust Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported strong financial results driven by investment activity and strategic financing moves.

KKR Real Estate Finance Trust Inc. reported a strong third quarter with increased net income and distributable earnings. The company saw significant loan originations and repayments, and closed a managed CLO to diversify financing.

  • Originated $1,537.0 million in senior loans and received $934.9 million in loan repayments.
  • Closed a $1.3 billion managed CLO and repaid $767.0 million of outstanding notes under the 2018 CLO.
  • Entered into a new $500.0 million term lending agreement.
  • Maintained a strong liquidity position of $516.2 million.

Headline financials

Total Revenue

$45.5M

Previous: $38.9M+17.1%
EPS (adj)

$0.62

Previous: $0.58+6.9%
Interest Collected

97.4%

No prior period
Free Cash Flow

$35.7M

Previous: $31.2M+14.4%
Net Income

$35.7M

Previous: $31.2M+14.4%
Operating Income

$28.7M

Previous: $26.5M+8.1%
Gross Profit

$33.5M

Previous: $30.2M+10.9%
Cash & Equivalents

$308M

Previous: $301M+2.1%
Total Assets

$5.75B

Previous: $5.23B+10.0%
Stock-Based Comp

$2.03M

Previous: $1.39M+45.8%

Revenue & EPS history

KKR · Revenue · Quarterly

$45.5M

Q3 2021+17.1%vs Q3 2020
Beat estimate in 6 of 16 quarters(38%)
ActualEstimate

Forward guidance

No specific forward guidance provided in this earnings report.

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 Q3 2021

Historical avgQ3 2021

-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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