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KKR Real Estate Finance Trust posts smaller Q3 loss on strong loan repayments

By Reuters News


Overview

  • US real estate finance REIT posted Q3 net loss, narrowing from prior quarter

  • Distributable loss widened in Q3 compared to previous quarter

  • Company highlighted strong loan repayments, improved liquidity, and lower leverage


Outlook

  • Company did not provide specific financial guidance for the upcoming quarter or full year


Result Drivers

  • LOAN REPAYMENTS - Co said strong loan repayments exceeded expectations, boosting liquidity and reducing leverage

  • LOAN RESOLUTIONS - Co said resolution of three watch list loans contributed to progress on action plan

  • NEW LOAN ORIGINATIONS - Co originated and funded new floating-rate senior loans during the quarter


Company press release: Full Story


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Distributable Earnings per share

-$2.64

Q3 Loss Per Share

$0.11


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the specialized reits peer group is "buy."

  • Wall Street's median 12-month price target for KKR Real Estate Finance Trust Inc is $7.00, about 17.8% above its October 27 closing price of $5.94


Reuters Recommended Reads

  • Oct 26 - TPG RE Finance Trust Q3 distributable earnings fall on realized loan loss

  • Oct 26 - Alexandria Real Estate Q3 net loss widens on impairments

  • Oct 27 - American Assets Trust Q3 FFO rises on higher rental rates; lifts outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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