Mon, Jul 22, 8:47 PM (47 days ago)
KKR Real Estate Finance Trust Inc. (KREF) reported for the quarter ending June 30, 2024. Key financial metrics indicate a mixed performance: 1. **Financial Health**: - **Assets**: $7.06 billion, down from $7.55 billion as of December 31, 2023. - **Liabilities**: $5.62 billion, down from $6.14 billion. - **Equity**: $1.44 billion, up from $1.40 billion. 2. **Performance Metrics**: - **Net Interest Income**: $40.4 million, down from $44 million in Q2 2023. - **Net Income**: $25.5 million, a reversal from a $20.1 million loss in Q2 2023. - **Earnings Per Share (EPS)**: $0.29, compared to a loss of $0.37 in Q2 2023. - **Dividends**: Declared $0.25 per share, down from $0.43 in Q2 2023. 3. **Revenue and Profit Margins**: - **Interest Income**: $149.2 million, down from $159.6 million. - **Interest Expense**: $108.8 million, down from $115.7 million. 4. **Cash Flow**: - **Operating Activities**: $65.1 million, down from $77.1 million. - **Investing Activities**: $464.8 million, up from $59.4 million. - **Financing Activities**: Net outflow of $565.5 million, compared to $164.2 million outflow. 5. **Trends and Uncertainties**: - The company faces challenges from rising interest rates, inflation, and economic uncertainties. - The portfolio’s average risk rating improved slightly to 3.1 from 3.2. - Future operations may be impacted by market volatility and borrower performance.