$KREF
KKR Real Estate Finance Trust Inc.

2021 Q3 Form 10-Q Financial Statement

#000163159621000049 Filed on October 25, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $77.61M $68.76M
YoY Change 12.87% -10.13%
Cost Of Revenue $29.83M $28.83M
YoY Change 3.48% -36.78%
Gross Profit $47.78M $39.93M
YoY Change 19.66% 29.14%
Gross Profit Margin 61.56% 58.07%
Selling, General & Admin $9.816M $6.970M
YoY Change 40.83% 15.59%
% of Gross Profit 20.54% 17.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $12.00M $8.780M
YoY Change 36.71% 25.72%
Operating Profit $35.78M $31.15M
YoY Change 14.85% 30.14%
Interest Expense $29.83M $28.83M
YoY Change 3.47% -36.77%
% of Operating Profit 83.38% 92.56%
Other Income/Expense, Net $2.292M $1.075M
YoY Change 113.21% -53.04%
Pretax Income $35.78M $31.28M
YoY Change 14.37% 30.71%
Income Tax $106.0K $96.00K
% Of Pretax Income 0.3% 0.31%
Net Earnings $35.67M $31.19M
YoY Change 14.38% 30.73%
Net Earnings / Revenue 45.96% 45.35%
Basic Earnings Per Share $0.57 $0.56
Diluted Earnings Per Share $0.57 $0.56
COMMON SHARES
Basic Shares Outstanding 55.64M shares 55.49M shares
Diluted Shares Outstanding 56.01M shares 55.63M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $307.7M $301.4M
YoY Change 2.1% 304.56%
Cash & Equivalents $307.7M $301.4M
Short-Term Investments
Other Short-Term Assets $700.0K $700.0K
YoY Change 0.0%
Inventory
Prepaid Expenses
Receivables $13.92M $15.60M
Other Receivables $0.00 $0.00
Total Short-Term Assets $322.4M $317.7M
YoY Change 1.47% 243.83%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $34.81M $33.50M
YoY Change 3.91% -9.95%
Other Assets $3.500M $2.700M
YoY Change 29.63% 3.85%
Total Long-Term Assets $5.431B $4.914B
YoY Change 10.52% -4.0%
TOTAL ASSETS
Total Short-Term Assets $322.4M $317.7M
Total Long-Term Assets $5.431B $4.914B
Total Assets $5.753B $5.232B
YoY Change 9.97% 0.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $365.0K $1.900M
YoY Change -80.79% -40.63%
Accrued Expenses $9.295M $10.80M
YoY Change -13.94% 14.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $40.04M $42.00M
YoY Change -4.68% -0.71%
LONG-TERM LIABILITIES
Long-Term Debt $4.476B $4.149B
YoY Change 7.89% 2.57%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.476B $4.149B
YoY Change 7.89% 2.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.04M $42.00M
Total Long-Term Liabilities $4.476B $4.149B
Total Liabilities $4.516B $4.191B
YoY Change 7.77% 2.53%
SHAREHOLDERS EQUITY
Retained Earnings -$47.02M -$70.56M
YoY Change -33.36% 714.49%
Common Stock $556.0K $555.0K
YoY Change 0.18% -3.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $61.00M $61.00M
YoY Change 0.0% 69.64%
Treasury Stock Shares
Shareholders Equity $1.235B $1.039B
YoY Change
Total Liabilities & Shareholders Equity $5.753B $5.232B
YoY Change 9.97% 0.39%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $35.67M $31.19M
YoY Change 14.38% 30.73%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $38.75M $38.40M
YoY Change 0.91% 37.14%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $31.48M $181.9M
YoY Change -82.69% -171.33%
Cash From Investing Activities $31.48M $181.9M
YoY Change -82.69% -171.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 119.9M -46.20M
YoY Change -359.55% -138.92%
NET CHANGE
Cash From Operating Activities 38.75M 38.40M
Cash From Investing Activities 31.48M 181.9M
Cash From Financing Activities 119.9M -46.20M
Net Change In Cash 190.1M 174.1M
YoY Change 9.22% -260.76%
FREE CASH FLOW
Cash From Operating Activities $38.75M $38.40M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-982000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
53782000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6014000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4371000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-1488000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-739000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
355000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1210000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
2112000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
900000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
41000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1546000 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
663000 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
251000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
96858000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
91418000 USD
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
1674488000 USD
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
466283000 USD
us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
2247673000 USD
us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
462142000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-573185000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4141000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
2080383000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
970580000 USD
kref Proceeds From Issuance Of Collateralized Loan Obligation
ProceedsFromIssuanceOfCollateralizedLoanObligation
1095250000 USD
kref Proceeds From Issuance Of Collateralized Loan Obligation
ProceedsFromIssuanceOfCollateralizedLoanObligation
0 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
292500000 USD
us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
167066000 USD
us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
71756000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
72590000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
5675000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
546000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1694571000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
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kref Repayments Of Collateralized Loan Obligations
RepaymentsOfCollateralizedLoanObligations
810000000 USD
kref Repayments Of Collateralized Loan Obligations
RepaymentsOfCollateralizedLoanObligations
0 USD
kref Repayments Of Loan Participations
RepaymentsOfLoanParticipations
66248000 USD
kref Repayments Of Loan Participations
RepaymentsOfLoanParticipations
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
17504000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
8689000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
414000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
157000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25061000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1720000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1297000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
674811000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
138197000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
198484000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
233756000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110832000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67619000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
309316000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
301375000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
307731000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
301375000 USD
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1585000 USD
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
309316000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
301375000 USD
us-gaap Interest Paid Net
InterestPaidNet
69492000 USD
us-gaap Interest Paid Net
InterestPaidNet
78717000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
409000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
50000 USD
kref Loan Principal Payments Held By Servicer
LoanPrincipalPaymentsHeldByServicer
8205000 USD
kref Loan Principal Payments Held By Servicer
LoanPrincipalPaymentsHeldByServicer
42000000 USD
us-gaap Dividends
Dividends
24348000 USD
us-gaap Dividends
Dividends
24138000 USD
us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— The preparation of </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">condensed consolidated</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">condensed consolidated</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> financial statements and the reported amounts of revenue and expenses during the reporting period. Management makes subjective estimates to project cash flows KREF expects to receive on its investments in loans and securities as well as the related market discount rates, which significantly impacts the interest income, impairments, allowance for loan loss and fair values recorded or disclosed. The effects of COVID-19 may negatively and materially impact significant estimates and assumptions used by the Company including, but not limited to estimates of expected credit losses, valuation of our equity method investments and the fair value estimates of the Company’s assets and liabilities</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Actual results could materially differ from those estimates.</span>
CY2021Q3 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
2600000 USD
CY2021Q3 kref Debt Instrument Covenant Liquidity Required Cashand Cash Equivalents
DebtInstrumentCovenantLiquidityRequiredCashandCashEquivalents
53500000 USD
CY2020Q4 kref Debt Instrument Covenant Liquidity Required Cashand Cash Equivalents
DebtInstrumentCovenantLiquidityRequiredCashandCashEquivalents
42600000 USD
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
1600000 USD
CY2021Q3 us-gaap Settlement Assets Current
SettlementAssetsCurrent
8200000 USD
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
1600000 USD
CY2021Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
700000 USD
CY2020Q4 us-gaap Settlement Assets Current
SettlementAssetsCurrent
15900000 USD
CY2020Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
500000 USD
CY2021Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1800000 USD
CY2021Q3 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
900000 USD
CY2020Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
900000 USD
CY2021Q3 us-gaap Deposits
Deposits
400000 USD
CY2020Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
3100000 USD
CY2021Q3 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
900000 USD
CY2020Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
900000 USD
CY2020Q4 us-gaap Deposits
Deposits
800000 USD
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2021Q3 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
2600000 USD
CY2021Q3 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
115100000 USD
CY2021Q3 kref Net Accelerated Fees And Prepayment Income
NetAcceleratedFeesAndPrepaymentIncome
6400000 USD
kref Net Accelerated Fees And Prepayment Income
NetAcceleratedFeesAndPrepaymentIncome
8500000 USD
CY2020Q3 kref Net Accelerated Fees And Prepayment Income
NetAcceleratedFeesAndPrepaymentIncome
-400000 USD
kref Net Accelerated Fees And Prepayment Income
NetAcceleratedFeesAndPrepaymentIncome
-100000 USD
CY2021Q3 kref Weighted Average Loan Risk Rating
WeightedAverageLoanRiskRating
3.0
CY2020Q4 kref Weighted Average Loan Risk Rating
WeightedAverageLoanRiskRating
3.1
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5600000 USD
CY2021Q3 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateral
0.333
CY2020Q4 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateral
0.367
CY2021Q3 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral Percentageif Maximum Amountis Borrowed
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateralPercentageifMaximumAmountisBorrowed
0.318
CY2020Q4 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral Percentageif Maximum Amountis Borrowed
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateralPercentageifMaximumAmountisBorrowed
0.348
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
543185000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1116361000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
477904000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
259604000 USD
CY2021Q3 kref Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
572331000 USD
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2969385000 USD
kref Debt Instrument Covenant Interest Incometo Interest Expense Ratio
DebtInstrumentCovenantInterestIncometoInterestExpenseRatio
1.5
kref Debt Instrument Covenant Consolidated Tangible Net Worth Minimum Percentageof Aggregate Cash Proceeds Madeand Capital Contributions Received
DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageofAggregateCashProceedsMadeandCapitalContributionsReceived
0.750
kref Debt Instrument Covenant Consolidated Tangible Net Worth Amountof Aggregate Cash Proceeds Madeand Capital Contributions Received
DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountofAggregateCashProceedsMadeandCapitalContributionsReceived
1005000000 USD
kref Debt Instrument Covenant Cash Liquidity Amount
DebtInstrumentCovenantCashLiquidityAmount
10000000 USD
kref Debt Instrument Covenant Cash Liquidity Percentof Recourse Indebtedness
DebtInstrumentCovenantCashLiquidityPercentofRecourseIndebtedness
0.050
kref Debt Instrument Covenant Total Indebtedness Percentof Total Assets
DebtInstrumentCovenantTotalIndebtednessPercentofTotalAssets
0.833
CY2021Q3 kref Collateral Assets Under Collateralized Loan Obligations As A Percentage Of Commercial Mortgage Loans
CollateralAssetsUnderCollateralizedLoanObligationsAsAPercentageOfCommercialMortgageLoans
0.237
CY2020Q4 kref Collateral Assets Under Collateralized Loan Obligations As A Percentage Of Commercial Mortgage Loans
CollateralAssetsUnderCollateralizedLoanObligationsAsAPercentageOfCommercialMortgageLoans
0.205
CY2021Q3 kref Percentage Of Collateralized Loan Obligations Under Floating Rate Loans
PercentageOfCollateralizedLoanObligationsUnderFloatingRateLoans
1
CY2020Q4 kref Percentage Of Collateralized Loan Obligations Under Floating Rate Loans
PercentageOfCollateralizedLoanObligationsUnderFloatingRateLoans
1
kref Number Of Equity Method Investments
NumberOfEquityMethodInvestments
2 investment
CY2014Q4 kref Common Stockand Preferred Stock Shares Authorized
CommonStockandPreferredStockSharesAuthorized
350000000 shares
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2021Q3 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
3900326 shares
CY2021Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2037637 shares
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
12.27
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
25000000 USD
CY2021Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
100000000 USD
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2021Q1 us-gaap Dividends Common Stock
DividendsCommonStock
23916000 USD
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2021Q2 us-gaap Dividends Common Stock
DividendsCommonStock
23924000 USD
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2021Q3 us-gaap Dividends Common Stock
DividendsCommonStock
23924000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
71764000 USD
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2020Q1 us-gaap Dividends Common Stock
DividendsCommonStock
24010000 USD
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2020Q2 us-gaap Dividends Common Stock
DividendsCommonStock
23861000 USD
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2020Q3 us-gaap Dividends Common Stock
DividendsCommonStock
23861000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
71732000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
31989000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
31989000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
31351000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
31351000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
90437000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
90437000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24777000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
24777000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55637480 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55491405 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55629810 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56107765 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
373763 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
140765 shares
us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
253387 shares
us-gaap Incremental Common Shares Attributable To Accelerated Share Repurchase Agreements
IncrementalCommonSharesAttributableToAcceleratedShareRepurchaseAgreements
79696 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56011243 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55632170 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55883197 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56187461 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.63
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.62
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.44
CY2021Q3 kref Sharebased Compensation Arrangementby Sharebased Payment Award Issuance Ratio
SharebasedCompensationArrangementbySharebasedPaymentAwardIssuanceRatio
1
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
15520 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
18052 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
443052 shares
CY2021Q3 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
5190000 USD
CY2020Q4 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
6243000 USD
CY2021Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
7541000 USD
CY2020Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
5694000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
22060000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
17751000 USD
CY2021Q2 kref Payments For Equity Offering Discounts And Commissions
PaymentsForEquityOfferingDiscountsAndCommissions
1600000 USD
CY2020Q4 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
MortgageLoansOnRealEstateWritedownOrReserveAmount1
20500000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 USD
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2021Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD

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