Added to YB: 2026-07-28
Pitch date: 2026-07-24
KREF [neutral]
KKR Real Estate Finance Trust Inc.
-0.81%
current return
Author Info
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Company Info
KKR Real Estate Finance Trust Inc., a mortgage real estate investment trust, focuses primarily on originating and acquiring transitional senior loans secured by commercial real estate (CRE) assets in the United States.
Market Cap
$430.0M
Pitch Price
$7.38
Price Target
10.24 (+40%)
Dividend
5.45%
EV/EBITDA
N/A
P/E
-2.28
EV/Sales
N/A
Sector
Mortgage Real Estate Investment Trusts (REITs)
Category
special_situation
$KREF: a mortgage REIT for sale at 0.72x book — with its KKR manager holding the pen
KREF (overview): Commercial mortgage REIT, KKR-managed, trades $7.41 vs $10.24 book (0.72x) after July 21 strategic review announcement. But book falling — Q2 booked $119.8M reserve, $1.95 GAAP loss, 2nd straight nine-figure provision, dividend uncovered. Buying back below book, $721M liquidity, no debt til 2030. Key risk: external-manager conflict — KKR won't kill own fee stream. Deal may clear below marked book.
Read full article (2 min)