NYSE$KREF

KKR Real Estate Finance Trust Inc · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

KKR Real Estate Finance Trust reported Q4 2025, net loss of $32M, diluted EPS of $-0.49.

For Q4 2025, KKR Real Estate Finance Trust reported a net loss of $32M, diluted EPS was $-0.49. Management discusses segment performance, capital allocation, and macro risks in the quarterly filing.

  • Net loss $32M.
  • Diluted EPS $-0.49.
  • KKR Real Estate Finance Trust MD&A covers liquidity, credit, and operating priorities.

Headline financials

Total Revenue

$25.8M

Previous: $35.1M-26.6%
EPS (adj)

-$0.49

Previous: -$0.21-133.3%
Floating Rate Loans

99.0%

No prior period
Unlevered All-In Yield

7.3%

No prior period
Multifamily & Industrial

58.0%

No prior period
Interest Collected

100.0%

No prior period
Weighted Avg LTV

66.0%

No prior period
Risk Rating

3.2

No prior period
Non-MTM Financing

74.0%

No prior period
Net Income

-$32M

Previous: $14.6M-319.2%
Operating Income

-$32M

Previous: $0.00

Revenue & EPS history

KKR · Revenue · Quarterly

$25.8M

Q4 2025-26.6%vs Q4 2024
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Forward guidance

BDC outlook emphasizes portfolio yield, credit quality, and dividend/NII coverage.

Tailwinds

  • Senior secured lending focus.
  • Floating-rate income.
  • Deployment into venture growth.

Headwinds

  • Credit losses.
  • Spread compression.
  • Mark-to-market on equity investments.

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 Q4 2025

Historical avgQ4 2025

-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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