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Sep 30, 2022
KKR Q3 2022 Earnings Report
Reported a net loss driven by an increase in the unrealized CECL allowance, but distributable earnings remained strong.
Key Takeaways
KKR Real Estate Finance Trust Inc. reported a net loss attributable to common stockholders of ($48.4) million, or ($0.70) per diluted share, for the quarter ended September 30, 2022. However, the company's Distributable Earnings remained strong at $34.4 million, or $0.50 per diluted share. The current quarter net loss was largely driven by an increase in the unrealized CECL allowance.
Originated and funded $457.7 million and $44.9 million, respectively, relating to two floating-rate life science loans.
Liquidity position of $916.2 million, including $183.3 million of cash.
Current funded loan portfolio of $7.6 billion is 100.0% floating rate with a weighted average LTV of 67%.
Common book value was $1,267.5 million, or $18.28 per common share.
Forward Guidance
KREF is well-positioned for the current market environment with record liquidity and a 100% floating rate loan portfolio.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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