KKR REAL ESTATE FINANCE INC TRUST (KREF)
Financials · mortgage REIT · NYSE
An externally-managed REIT specializing in senior loans for institutional-quality commercial real estate, sponsored by KKR.
What KKR REAL ESTATE FINANCE INC TRUST does
KKR Real Estate Finance Trust Inc. is a real estate investment trust (REIT) that focuses primarily on originating and acquiring senior loans collateralized by commercial real estate assets. The company is externally managed by a subsidiary of KKR & Co. Inc. and targets institutional-quality properties across various sectors including office, multifamily, and retail.
Themes: commercial real estate lending, real estate finance, mortgage REIT, alternative asset management
Fundamentals
- Price$6.37 as of 2026-10-08 close
- Market cap$373M as of 2026-07-20 (share count; price 2026-10-08)
- 1-year return-25.9% 2025-10-08 close $8.60 → 2026-10-08 close $6.37
- P/En/a negative earnings
- ROE-3.8% FY2025, SEC XBRL
- Debt / equity4.63 as of 2026-09-02
- Revenue growth (YoY)-19.3% as of 2026-09-02
- Beta0.79 as of 2026-09-02
- Last reported earnings2026-07-21 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +5.9%; 2-year non-decreasing per-share dividend streak (SEC XBRL).
How KREF compares in its sector
- return on equitybottom 10% 559 covered Financials peers, as of 2026-09-02
- indicated dividend yieldtop 25% 468 covered Financials peers, as of 2026-09-02
Position among covered Financials companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Dividend coverage (FY2025)
Covered by reported results. In FY2025, KREF's dividend was covered by reported results (operating-cash-flow payout 93%). This describes past coverage, not a forecast.
- Earnings payoutnot assessable earnings were not positive that year
- Operating-cash-flow payout93% dividends / operating cash flow — capital spending was not reported, so this does not subtract it
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
How KKR REAL ESTATE FINANCE INC TRUST looks technically
KKR REAL ESTATE FINANCE INC TRUST (KREF) is trading 10.4% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed below its 200-day average about 3 trading days ago — a "death cross", a bearish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 42, with sellers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 41, neither overbought (above 70) nor oversold (below 30). MACD, a trend-momentum gauge, turned bullish about 1 trading day ago (its momentum flipped positive). It made a new 20-day low about 12 trading days ago. It is 30.2% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 10.4% below its 200-day average, the long-term trend line — a long-term downtrend | -10.4% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $7.08 | $7.08 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $7.11 | $7.11 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing low 14 calendar days ago — the swings before that are what the structure reading is measured on | 14 sessions |
| Wave structure | its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in the fourth leg, a pullback against that downward direction; the labelling fails if price closes above 7.27. It is one of several labellings that fit, and it describes the swings already printed, not what comes next. The same swings also read as a completed three-part correction. | possible downward five-wave sequence, in wave 4 (one of several readings) |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 3 trading days ago — a "death cross", a bearish long-term signal | 3 sessions |
| Trend strength (14-day ADX) | a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 42, with sellers in control | 41.6 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 41, neither overbought (above 70) nor oversold (below 30) | 41.2 |
|---|---|---|
| Position in its 14-day range | it is trading around the middle of its 14-day range ($5.90 to $6.88) — its "stochastic" reading is 48 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 48.0 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, turned bullish about 1 trading day ago (its momentum flipped positive) | 1 session |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $9.13 | $9.13 |
|---|---|---|
| From the 52-week high | it is 30.2% below its 52-week high (its highest price of the past year) | -30.2% |
| Above the 52-week low | it is 20.4% above its 52-week low (its lowest price of the past year) | +20.4% |
| Below the 52-week high | it is 30.2% below its highest point of the past year | 30.2% |
| Since a 20-day breakout | it made a new 20-day low about 12 trading days ago | 12 sessions |
| Since a 55-day breakout | it made a new 55-day low about 12 trading days ago | 12 sessions |
| All-time high | its highest closing price on record is $23.99 (set on 2017-05-24) | $23.99 |
| Given back of the 52-week move | over the past year its closes ranged ($5.88 to $9.05), and it has recovered roughly a quarter of its fall from last year’s high — 15% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $7.84 to $7.94. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 15.5% |
| From the all-time high | it is 73.4% below its all-time high | -73.5% |
| Nearest price level | it is trading 4.2% below a resistance level at $6.64 — a price it turned at twice since 2026-02-24, most recently on 2026-05-08. Since 2024-10-08 it has 1 such level below the current price and 17 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +4.2% |
| All-time low | its lowest closing price on record is $5.29 (set on 2026-04-23) | $5.29 |
| Above the all-time low | it is 20.4% above its all-time low | +20.4% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are unusually wide versus its own recent history (wider than about 91% of the past ~6 months) | 91st percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.2321 between its high and its low — about 3.6% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.2321 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $5.79 and $7.23 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $5.79 – $6.51 – $7.23 |
| Typical daily range (% of price) | its price moves about 3.6% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 3.6% |
| Stretch from the 200-day average | it is trading 3.2 daily ranges below its 200-day average price (10.4% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 3.2 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 1.20× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | not available for this company yet | n/a |
Candlestick patterns
2
| Since a doji | 5 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 5 sessions ago |
|---|---|---|
| Since a bullish engulfing | today it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | today |
Price gaps
2
| Gap at the open | it opened on 2026-10-08 1.1% below the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | -1.1% |
|---|---|---|
| Gap filled | a 3.9% gap up opened on 2026-08-06 has been "filled" 20 sessions ago — price traded back through the level the gap left behind, and it took 24 sessions to close | 20 sessions ago |
Price streaks
1
| Closing streak | it closed higher in its latest session, after a session that did not close higher — a single up day rather than a run | 1 session up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 15.7 percentage points (the stock lost 14.6% while the market gained 1.0%) | -15.7% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 15.1 percentage points (the stock lost 11.3% while the market gained 3.8%) | -15.1% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 12.7 percentage points (the stock gained 4.8% while the market gained 17.5%) | -12.7% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 40.9 percentage points (the stock lost 25.9% while the market gained 15.0%) | -40.9% |
Signal agreement
2
| Bullish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bullish state: MACD momentum is positive — these describe past price behaviour, not a forecast | 1 of 9 |
|---|---|---|
| Bearish technical signals | 5 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, trading below its 200-day average, a strong downtrend, with sellers in control, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 5 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 13% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-01 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thin, spanning 1.7% of the share price, which is taken to mean a barrier that gives way easily. | -13.4% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 8% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $6.93 — a volume-weighted average of daily closes over 189 sessions, not a true tick-by-tick VWAP. | -8.1% |
|---|---|---|
| Vs the average paid since it last reported | the price is 10% below the average price paid since it last reported on 2026-07-21 (its 10-Q), so the typical buyer over that stretch is under water. That average is $7.05 — a volume-weighted average of daily closes over 57 sessions, not a true tick-by-tick VWAP. | -9.6% |
Double top, bearish — broke down · entry $6.96 · 59 sessions in
Price levels it has turned at before
KREF last closed at $6.37 on 2026-10-08. Since 2024-10-08 it has turned at 1 price below its last close and 17 above; the nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $6.64 | Resistance | 4.2% above the last close | turned there twice · 2026-02-24 to 2026-05-08 |
| $6.84 | Resistance | 7.3% above the last close | turned there four times · 2026-04-21 to 2026-07-31 |
| $5.88 | Support | 7.6% below the last close | turned there twice · 2026-04-02 to 2026-09-24 |
| $7.45 | Resistance | 16.9% above the last close | turned there twice · 2026-03-04 to 2026-06-15 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 4 of five, a pullback against that direction.
This labelling fails — stops being a possible reading at all — if it closes above $7.27.
This is one of several labellings that fit the same swings, so treat it as a reading rather than the reading. It was chosen from 2 labellings that survived the rules, counting shorter readings of the same bars.
On past moves of this shape the leg has usually ended somewhere between $6.33 and $6.81 — that is where it has tended to end if the count holds, not a forecast of where the price goes.
Alternate reading: The same swings also read as a completed three-part correction, which fails on a close below $5.90.
This reading has stood for 6 trading days, since 2026-10-01.
Read from daily closes as of 2026-10-08.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Recent death cross (50-day crossed below 200-day) · Pulled back from the 12-month high · MACD just crossed bullish (12/26/9) · lagging the market · Printed a bullish engulfing pair | Learn: moving average · golden cross · adx · rsi · macd · breakout · fifty two week high low
Based on daily closing prices as of 2026-10-08. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Mean price target$7.75 range $7.00 – $9.50; median $7.25
Analyst estimates, as of 2026-10-03. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for KREF
- Consensus EPS estimate$0.06 next reporting period, as of 2026-10-03
- Estimate change, 30 days-$0.026 from $0.086, on 2026-08-29, 35-day window
- Readings revised upward0% of 8 comparable readings
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Fluctuations in interest rates and credit spreads affecting income and asset value.","Exposure to credit loss risks and the need for credit loss reserves.","Reduced market demand for office and commercial real estate due to hybrid work trends and economic conditions."]
What changed in the latest 10-Q
AI-assisted comparison of KREF's 10-Q filed 2026-04-22 against the prior one filed 2025-10-21.
Management's Discussion & Analysis (MD&A)
- Added:
- Added reference to military conflict: 'including as a result of the outbreak of a military conflict between the United States, Israel and Iran on February 28, 2026' in Macroeconomic Environment section (filed 2026-04-22)
- Added summarized interest rate reduction language: 'Although the Federal Reserve lowered interest rates three times during 2024 and three times in 2025' replacing detailed basis point breakdown (filed 2026-04-22)
- Removed:
- Removed specific interest rate reduction details: 'by 50 basis points in September 2024, by 25 basis points in November 2024, by 25 basis points in December 2024 and by 25 basis points in September 2025' (filed 2025-10-21)
- Removed reference to specific geopolitical conditions detail in older version
- Reworded:
- Changed reference from 'Note 15' to 'Note 16' in Manager section regarding management agreement terms (filed 2026-04-22)
- Macroeconomic Environment section expanded 'geopolitical conditions' language from general reference to specific conflict reference (filed 2026-04-22)
- Changed page number from 49 to 51 in Table of Contents (filed 2026-04-22)
- Updated earnings table comparison periods: from 'September 30, 2025 and June 30, 2025' to 'March 31, 2026 and December 31, 2025' (filed 2026-04-22)
- Updated net income figures and weighted-average shares in earnings table (filed 2026-04-22)
- Notes:
- Both filings are truncated at the end of the Distributable Earnings definition; comparison is limited to complete sections
- Numerical data changes in earnings table reflect different quarterly reporting periods rather than policy/disclosure changes
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales recorded in the last 90 days, of which we have read Form 4 filings through 2026-10-04. The 5 days since 2026-10-04 have not been checked yet.
- Last 180 days · read to 2026-10-042 buys ($603544) · 0 sells — 2 buying insiders
Most recent open-market transaction: 2026-04-24. Based on Form 4 filings read through 2026-10-04; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about KREF's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Short interest (FINRA)
KREF had 5,657,629 shares of reported short interest as of the 2026-09-15 FINRA settlement date (delayed, bi-monthly; not real-time).
KREF had 9.66% of its shares outstanding sold short as of the 2026-09-15 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 11.2 days to cover at the same settlement.
- Reported short interest (shares) 5,657,629
- Short interest (% of shares outstanding) 9.66%
- Prior settlement (shares) 5,992,039
- Reported change -5.58%
- Days to cover (reported) 11.2
Reported to FINRA as of the 2026-09-15 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Blackstone Mortgage Trust (BXMT)
- Starwood Property Trust (STWD)
- Apollo Commercial Real Estate Finance (ARI)
- Ares Commercial Real Estate (ACRE)
- TPG Real Estate Finance Trust (TRTX)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare KREF vs…
KKR REAL ESTATE FINANCE INC TRUST is found in…
Frequently asked questions
What does KKR REAL ESTATE FINANCE INC TRUST (KREF) do?
KKR Real Estate Finance Trust Inc. is a real estate investment trust (REIT) that focuses primarily on originating and acquiring senior loans collateralized by commercial real estate assets. The company is externally managed by a subsidiary of KKR & Co. Inc. and targets institutional-quality properties across various sectors including office, multifamily, and retail.
What sector is KKR REAL ESTATE FINANCE INC TRUST (KREF) in?
KKR REAL ESTATE FINANCE INC TRUST (KREF) is classified in the Financials sector. Its industry is mortgage REIT. It trades on NYSE.
Does KREF pay a dividend?
Yes — KKR REAL ESTATE FINANCE INC TRUST (KREF) pays a dividend, with an indicated yield of about 5.89% and 2-year non-decreasing per-share dividend streak (SEC EDGAR XBRL) (market data, as of 2026-09-02). Informational only — not financial advice.
Who are KKR REAL ESTATE FINANCE INC TRUST's (KREF) competitors?
Notable peers of KKR REAL ESTATE FINANCE INC TRUST (KREF) include Blackstone Mortgage Trust, Starwood Property Trust, Apollo Commercial Real Estate Finance, Ares Commercial Real Estate and TPG Real Estate Finance Trust. This peer set is informational only — not financial advice.
Is KKR REAL ESTATE FINANCE INC TRUST (KREF) overbought or oversold right now?
KKR REAL ESTATE FINANCE INC TRUST (KREF) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 41, in the neutral middle (as of 2026-10-08). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on KREF come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest; prices are market data, as of 2026-09-02; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-08.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.