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KREF KKR Real Estate Finance Trust

KREF is a real estate finance company that focuses primarily on originating and acquiring senior loans secured by commercial real estate properties. KREF is externally managed and advised by an affiliate of KKR & Co. Inc.

Company profile

Ticker
KREF, KREF+A
Exchange
Website
CEO
Matthew Salem
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
KKR Real Estate Finance Holdings L.P. • KREF Capital LLC • KREF Capital TRS LLC • KREF Holdings I LLC • KREF Holdings II LLC • KREF Holdings III LLC • KREF Holdings IV LLC • KREF Holdings V LLC • KREF Holdings VI LLC • KREF Holdings VII LLC ...

KREF stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

25 Oct 21
25 Jan 22
31 Dec 22
Quarter (USD)
Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Dec 21 Vincent J. Napolitano Common Stock Grant Acquire A No No 0 6,000 0 11,167
20 Dec 21 Mattson W Patrick Common Stock Grant Acquire A No No 0 63,000 0 194,609
20 Dec 21 Salem Matthew A Common Stock Grant Acquire A No No 0 97,650 0 295,845
20 Dec 21 Lee Christen E.J. Common Stock Grant Acquire A No No 0 44,950 0 248,544.07
1 Nov 21 KKR REFT Common Stock Conversion Acquire C Yes No 0 1 0 1
1 Nov 21 KKR REFT Special Voting Preferred Stock Common Stock Conversion Dispose C Yes No 0 1 0 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 145 136 +6.6%
Opened positions 28 27 +3.7%
Closed positions 19 19
Increased positions 60 58 +3.4%
Reduced positions 29 29
13F shares
Current Prev Q Change
Total value 1.39B 1.42B -1.5%
Total shares 69.51M 69.39M +0.2%
Total puts 50.5K 39.8K +26.9%
Total calls 20.2K 19.4K +4.1%
Total put/call ratio 2.5 2.1 +21.9%
Largest owners
Shares Value Change
KKR Group Partnership 21.23M $380.52M 0.0%
Kohlberg Kravis Roberts & Co. 14.25M $300.68M 0.0%
BLK Blackrock 6.56M $138.38M +19.4%
Vanguard 3.98M $83.96M +3.7%
Nan Shan Life Insurance 3.5M $73.85M 0.0%
GS Goldman Sachs 2.3M $48.6M -3.3%
Townsend 1.9M $36.31M 0.0%
STT State Street 1.28M $27.55M +15.1%
Mirae Asset Global Investments 1.16M $24.48M -0.5%
Allianz Asset Management GmbH 1.08M $22.83M 0.0%
Largest transactions
Shares Bought/sold Change
Temasek 0 -2.44M EXIT
BLK Blackrock 6.56M +1.06M +19.4%
Element Capital Management 232.67K +232.67K NEW
NTRS Northern Trust 562K +221.44K +65.0%
STT State Street 1.28M +167.9K +15.1%
Vanguard 3.98M +142.52K +3.7%
Nuveen Asset Management 640.74K -140.56K -18.0%
Jupiter Asset Management 0 -124.83K EXIT
GFS Advisors 122.65K +122.65K NEW
Two Sigma Investments 117.01K +117.01K NEW

Financial report summary

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Management Discussion
  • As previously disclosed, beginning with our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, and for all subsequent reporting periods, we have elected to present results of operations by comparing to the immediately preceding period. Given the dynamic nature of our business and the sensitivity to the real estate and capital markets, we believe providing analysis of results of operations by comparing to the immediately preceding period is more meaningful to our stockholders in assessing the overall performance of our current business.
  • Net interest income increased by $5.3 million, or 13.2%, during the three months ended September 30, 2021, compared to the three months ended June 30, 2021, this is primarily due to an $8.2 million, or 12.2%, increase in our interest income and offset by a $2.9 million, or 10.7%, increase in our interest expense.
  • Our interest income increased primarily as the weighted average principal balance of our loan portfolio increased by $238.4 million for the three months ended September 30, 2021, compared to the three months ended June 30, 2021, as a result
Content analysis
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Removed: Chase, closed, COVID, indemnify, JPMorgan