$KREF
KKR Real Estate Finance Trust Inc.

2023 Q4 Form 10-Q Financial Statement

#000163159623000043 Filed on October 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $169.2M $168.7M
YoY Change 14.08% 42.4%
Cost Of Revenue $118.5M $118.6M
YoY Change 29.41% 76.2%
Gross Profit $50.67M $50.10M
YoY Change -10.69% -2.08%
Gross Profit Margin 29.94% 29.7%
Selling, General & Admin $11.12M $11.40M
YoY Change 27.76% 30.08%
% of Gross Profit 21.95% 22.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $63.58M $23.10M
YoY Change 73.86% -75.45%
Operating Profit -$12.91M $27.00M
YoY Change -164.06% -162.92%
Interest Expense $118.5M $118.6M
YoY Change 29.41% 76.22%
% of Operating Profit 439.32%
Other Income/Expense, Net $4.174M $5.443M
YoY Change -13.28% 41.52%
Pretax Income -$12.91M $27.00M
YoY Change -164.06% -162.91%
Income Tax $199.0K $165.0K
% Of Pretax Income 0.61%
Net Earnings -$12.89M $27.14M
YoY Change -163.4% -163.48%
Net Earnings / Revenue -7.62% 16.09%
Basic Earnings Per Share -$0.27 $0.31
Diluted Earnings Per Share -$0.27 $0.31
COMMON SHARES
Basic Shares Outstanding 69.31M shares 69.11M shares
Diluted Shares Outstanding 69.38M shares 69.12M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $135.9M $108.0M
YoY Change -43.33% -41.09%
Cash & Equivalents $135.9M $108.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $41.00M $39.90M
Other Receivables $0.00 $0.00
Total Short-Term Assets $176.9M $147.9M
YoY Change -36.8% -30.86%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $35.08M $35.50M
YoY Change -4.81% -3.68%
Other Assets $117.1M $17.60M
YoY Change 645.97% 40.8%
Total Long-Term Assets $7.371B $7.478B
YoY Change -2.02% 2.05%
TOTAL ASSETS
Total Short-Term Assets $176.9M $147.9M
Total Long-Term Assets $7.371B $7.478B
Total Assets $7.548B $7.625B
YoY Change -3.26% 1.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.450M $5.900M
YoY Change 34.73% 54.25%
Accrued Expenses $22.01M $21.30M
YoY Change 10.26% 32.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $156.2M
YoY Change
Total Short-Term Liabilities $65.53M $65.20M
YoY Change 4.96% 10.72%
LONG-TERM LIABILITIES
Long-Term Debt $6.060B $6.104B
YoY Change -1.69% 3.76%
Other Long-Term Liabilities $17.98M $2.700M
YoY Change 338.61% -34.15%
Total Long-Term Liabilities $6.078B $6.107B
YoY Change -1.47% 3.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $65.53M $65.20M
Total Long-Term Liabilities $6.078B $6.107B
Total Liabilities $6.143B $6.172B
YoY Change -1.4% 3.81%
SHAREHOLDERS EQUITY
Retained Earnings -$314.4M -$265.8M
YoY Change 122.16% 110.32%
Common Stock $693.0K $691.0K
YoY Change 0.29% -0.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.405B $1.454B
YoY Change
Total Liabilities & Shareholders Equity $7.548B $7.625B
YoY Change -3.26% 1.12%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$12.89M $27.14M
YoY Change -163.4% -163.48%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $36.82M $41.80M
YoY Change -0.96% 17.52%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $76.49M -$122.4M
YoY Change -137.03% -170.56%
Cash From Investing Activities $76.49M -$122.4M
YoY Change -137.03% -170.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -86.61M -20.70M
YoY Change -137.76% -85.63%
NET CHANGE
Cash From Operating Activities 36.82M 41.80M
Cash From Investing Activities 76.49M -122.4M
Cash From Financing Activities -86.61M -20.70M
Net Change In Cash 26.69M -101.3M
YoY Change -55.5% -255.93%
FREE CASH FLOW
Cash From Operating Activities $36.82M $41.80M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Payments Of Dividends Common Stock
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85551000 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
15978000 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
16214000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
588475000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2153944000 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
143750000 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4349000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
26004000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
936000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
28340000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-184881000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
783510000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-128993000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-83133000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
250621000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
273770000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121628000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
190637000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
108038000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
183341000 usd
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13590000 usd
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
7296000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121628000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
190637000 usd
us-gaap Interest Paid Net
InterestPaidNet
318292000 usd
us-gaap Interest Paid Net
InterestPaidNet
119240000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
296000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
kref Loan Principal Payments Held By A Servicer
LoanPrincipalPaymentsHeldByAServicer
30000000 usd
kref Loan Principal Payments Held By A Servicer
LoanPrincipalPaymentsHeldByAServicer
0 usd
kref Loan Modification Accounted For New Loan
LoanModificationAccountedForNewLoan
0 usd
us-gaap Dividends
Dividends
29716000 usd
us-gaap Dividends
Dividends
29815000 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 impact the interest income, impairments, allowance for loan loss and fair values recorded or disclosed. Actual results could materially differ from those estimates.</span>
CY2023Q3 kref Debt Instrument Covenant Liquidity Required Cashand Cash Equivalents
DebtInstrumentCovenantLiquidityRequiredCashandCashEquivalents
59300000 usd
CY2022Q4 kref Debt Instrument Covenant Liquidity Required Cashand Cash Equivalents
DebtInstrumentCovenantLiquidityRequiredCashandCashEquivalents
54400000 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
13600000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
10800000 usd
CY2023Q3 kref Proceeds From Loan Repayment
ProceedsFromLoanRepayment
30000000 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
13600000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
10800000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1100000 usd
CY2023Q3 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
2700000 usd
CY2023Q3 kref Real Estate Owned Liability
RealEstateOwnedLiability
5800000 usd
CY2023Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1900000 usd
CY2022Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
4100000 usd
CY2022Q4 kref Real Estate Owned Liability
RealEstateOwnedLiability
3700000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
2100000 usd
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2022Q3 kref Incremental Common Shares Potentially Attributable To Dilutive Effect Of Conversion Of Debt Securities
IncrementalCommonSharesPotentiallyAttributableToDilutiveEffectOfConversionOfDebtSecurities
6316174 shares
kref Incremental Common Shares Potentially Attributable To Dilutive Effect Of Conversion Of Debt Securities
IncrementalCommonSharesPotentiallyAttributableToDilutiveEffectOfConversionOfDebtSecurities
6316174 shares
CY2023Q3 kref Prepayment Fee Income
PrepaymentFeeIncome
0 usd
kref Net Accelerated Fees
NetAcceleratedFees
1200000 usd
CY2022Q3 kref Prepayment Fee Income
PrepaymentFeeIncome
1500000 usd
kref Prepayment Fee Income
PrepaymentFeeIncome
6800000 usd
CY2022Q3 kref Net Accelerated Fees
NetAcceleratedFees
700000 usd
kref Net Accelerated Fees
NetAcceleratedFees
1600000 usd
CY2023Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
218992000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
106974000 usd
CY2022Q4 kref Weighted Average Loan Risk Rating
WeightedAverageLoanRiskRating
3.2
CY2023Q2 kref Weighted Average Loan Risk Rating
WeightedAverageLoanRiskRating
3.2
CY2023Q3 kref Weighted Average Loan Risk Rating
WeightedAverageLoanRiskRating
3.2
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
106974000 usd
CY2022Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
4138000 usd
CY2022Q4 kref Allowance For Credit Loss
AllowanceForCreditLoss
111112000 usd
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
127018000 usd
us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
-1402000 usd
kref Credit Loss Expense Reversal
CreditLossExpenseReversal
125616000 usd
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
15000000 usd
kref Off Balance Sheet Credit Loss Liability Writeoff
OffBalanceSheetCreditLossLiabilityWriteoff
0 usd
kref Allowance For Credit Loss Writeoff
AllowanceForCreditLossWriteoff
15000000 usd
CY2023Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
218992000 usd
CY2023Q3 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
2736000 usd
CY2023Q3 kref Allowance For Credit Loss
AllowanceForCreditLoss
221728000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
22244000 usd
CY2021Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
1495000 usd
CY2021Q4 kref Allowance For Credit Loss
AllowanceForCreditLoss
23739000 usd
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
88554000 usd
us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
2630000 usd
kref Credit Loss Expense Reversal
CreditLossExpenseReversal
91184000 usd
CY2022Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
110798000 usd
CY2022Q3 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
4125000 usd
CY2022Q3 kref Allowance For Credit Loss
AllowanceForCreditLoss
114923000 usd
CY2023Q3 kref Allowance For Credit Loss
AllowanceForCreditLoss
221700000 usd
kref Credit Loss Expense Reversal
CreditLossExpenseReversal
125600000 usd
kref Credit Loss Expense Reversal
CreditLossExpenseReversal
91200000 usd
CY2021Q4 kref Real Estate Owned Other Assets Assumed
RealEstateOwnedOtherAssetsAssumed
2000000 usd
CY2022Q4 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral Percentageif Maximum Amountis Borrowed
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateralPercentageifMaximumAmountisBorrowed
0.256
CY2023Q3 us-gaap Dividends Common Stock
DividendsCommonStock
29716000 usd
us-gaap Dividends Common Stock
DividendsCommonStock
89143000 usd
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1651000 usd
CY2022Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1908000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
5103000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
5773000 usd
CY2023Q3 kref Other Real Estate Operations Income
OtherRealEstateOperationsIncome
144000 usd
CY2022Q3 kref Other Real Estate Operations Income
OtherRealEstateOperationsIncome
185000 usd
kref Other Real Estate Operations Income
OtherRealEstateOperationsIncome
922000 usd
kref Other Real Estate Operations Income
OtherRealEstateOperationsIncome
781000 usd
CY2023Q3 kref Property Operating Revenue
PropertyOperatingRevenue
1795000 usd
CY2022Q3 kref Property Operating Revenue
PropertyOperatingRevenue
2093000 usd
kref Property Operating Revenue
PropertyOperatingRevenue
6025000 usd
kref Property Operating Revenue
PropertyOperatingRevenue
6554000 usd
CY2023Q3 kref Property Operating Expense
PropertyOperatingExpense
2819000 usd
CY2022Q3 kref Property Operating Expense
PropertyOperatingExpense
2598000 usd
kref Property Operating Expense
PropertyOperatingExpense
8233000 usd
kref Property Operating Expense
PropertyOperatingExpense
7520000 usd
CY2023Q3 us-gaap Other Revenue Expense From Real Estate Operations
OtherRevenueExpenseFromRealEstateOperations
43000 usd
CY2022Q3 us-gaap Other Revenue Expense From Real Estate Operations
OtherRevenueExpenseFromRealEstateOperations
45000 usd
us-gaap Other Revenue Expense From Real Estate Operations
OtherRevenueExpenseFromRealEstateOperations
1709000 usd
us-gaap Other Revenue Expense From Real Estate Operations
OtherRevenueExpenseFromRealEstateOperations
1382000 usd
CY2023Q3 kref Income Loss From Real Estate Owned Operations
IncomeLossFromRealEstateOwnedOperations
-981000 usd
CY2022Q3 kref Income Loss From Real Estate Owned Operations
IncomeLossFromRealEstateOwnedOperations
-461000 usd
kref Income Loss From Real Estate Owned Operations
IncomeLossFromRealEstateOwnedOperations
-499000 usd
kref Income Loss From Real Estate Owned Operations
IncomeLossFromRealEstateOwnedOperations
417000 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
17.33
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
28300000 usd
CY2023Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
100000000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
51000 usd
CY2023Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
91000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
273000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
17000 usd
CY2023Q3 us-gaap Below Market Lease Amortization Income Remainder Of Fiscal Year
BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear
91000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
67000 usd
CY2023Q3 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
365000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
67000 usd
CY2023Q3 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
365000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
67000 usd
CY2023Q3 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
365000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
942000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1943000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
837000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
443000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
22000 usd
CY2023Q3 kref Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
0 usd
CY2023Q3 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateral
0.355
CY2022Q4 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateral
0.315
CY2023Q3 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral Percentageif Maximum Amountis Borrowed
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateralPercentageifMaximumAmountisBorrowed
0.323
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
122800000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1691912000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1136470000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
729267000 usd
CY2023Q3 kref Long Term Debt Maturity After Year Three
LongTermDebtMaturityAfterYearThree
160956000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3841405000 usd
kref Debt Instrument Covenant Interest Incometo Interest Expense Ratio
DebtInstrumentCovenantInterestIncometoInterestExpenseRatio
1.4
kref Debt Instrument Covenant Consolidated Tangible Net Worth Minimum Percentage Of Aggregate Cash Proceeds Made And Capital Contributions Received
DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageOfAggregateCashProceedsMadeAndCapitalContributionsReceived
0.750
kref Debt Instrument Covenant Consolidated Tangible Net Worth Amountof Aggregate Cash Proceeds Madeand Capital Contributions Received
DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountofAggregateCashProceedsMadeandCapitalContributionsReceived
1353400000 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
CY2023Q3 kref Collateral Assets Under Collateralized Loan Obligations As A Percentage Of Commercial Mortgage Loans
CollateralAssetsUnderCollateralizedLoanObligationsAsAPercentageOfCommercialMortgageLoans
0.297
CY2022Q4 kref Collateral Assets Under Collateralized Loan Obligations As A Percentage Of Commercial Mortgage Loans
CollateralAssetsUnderCollateralizedLoanObligationsAsAPercentageOfCommercialMortgageLoans
0.284
CY2022Q4 kref Percentage Of Collateralized Loan Obligations Under Floating Rate Loans
PercentageOfCollateralizedLoanObligationsUnderFloatingRateLoans
1
CY2023Q3 kref Percentage Of Collateralized Loan Obligations Under Floating Rate Loans
PercentageOfCollateralizedLoanObligationsUnderFloatingRateLoans
1
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2023Q1 us-gaap Dividends Common Stock
DividendsCommonStock
29711000 usd
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2023Q2 us-gaap Dividends Common Stock
DividendsCommonStock
29716000 usd
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
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
75091757 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
69106061 shares
CY2022Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
5985696 shares
CY2023Q3 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
5985696 shares
CY2023Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2022Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
587890 shares
CY2022Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
17.42
CY2022Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
10300000 usd
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1632582 shares
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2022Q1 us-gaap Dividends Common Stock
DividendsCommonStock
29211000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2022Q2 us-gaap Dividends Common Stock
DividendsCommonStock
29951000 usd
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2022Q3 us-gaap Dividends Common Stock
DividendsCommonStock
29815000 usd
us-gaap Dividends Common Stock
DividendsCommonStock
88977000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
15978000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
15978000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y10M24D
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
215518 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
48513 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
285834 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
222369 shares
CY2022Q3 kref Incremental Common Shares Potentially Attributable To Dilutive Effect Of Conversion Of Debt Securities
IncrementalCommonSharesPotentiallyAttributableToDilutiveEffectOfConversionOfDebtSecurities
6316174 shares
kref Incremental Common Shares Potentially Attributable To Dilutive Effect Of Conversion Of Debt Securities
IncrementalCommonSharesPotentiallyAttributableToDilutiveEffectOfConversionOfDebtSecurities
6316174 shares
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
27141000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-42754000 usd
us-gaap Net Income Loss
NetIncomeLoss
-17964000 usd
us-gaap Net Income Loss
NetIncomeLoss
17775000 usd
CY2023Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
5326000 usd
CY2022Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
5326000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
15978000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
15978000 usd
CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
414000 usd
CY2022Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
341000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1239000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1028000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
21401000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
21401000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-48421000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-48421000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-35181000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-35181000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
769000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
769000 usd
CY2023Q3 kref Weighted Average Number Of Shares Outstanding Excluding Vested But Undistributed Restricted Stock Units Basic
WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic
69106061 shares
CY2022Q3 kref Weighted Average Number Of Shares Outstanding Excluding Vested But Undistributed Restricted Stock Units Basic
WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic
69382730 shares
kref Weighted Average Number Of Shares Outstanding Excluding Vested But Undistributed Restricted Stock Units Basic
WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic
69101487 shares
kref Weighted Average Number Of Shares Outstanding Excluding Vested But Undistributed Restricted Stock Units Basic
WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic
67029140 shares
CY2023Q3 kref Incremental Common Shares Attributable To Deferred Stock Units
IncrementalCommonSharesAttributableToDeferredStockUnits
16575 shares
CY2022Q3 kref Incremental Common Shares Attributable To Deferred Stock Units
IncrementalCommonSharesAttributableToDeferredStockUnits
0 shares
kref Incremental Common Shares Attributable To Deferred Stock Units
IncrementalCommonSharesAttributableToDeferredStockUnits
9714 shares
kref Incremental Common Shares Attributable To Deferred Stock Units
IncrementalCommonSharesAttributableToDeferredStockUnits
0 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69122636 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69122636 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69382730 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69382730 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69111201 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69111201 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67029140 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67029140 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.51
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.51
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2022Q1 kref Number Of Times Interest Rates Increased
NumberOfTimesInterestRatesIncreased
11 time
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
CY2023Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
219000000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
107000000 usd
CY2023Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
7326031000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
500000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2023Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd

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