KKR News = KKR Real Estate Finance Trust Reports Second Quarter Loss
KKR Real Estate Finance Trust Inc. (NYSE: KREF) reported a loss of $20 million, or 37 cents per share, for the second quarter of 2023. This compares to earnings of $26 million, or 46 cents per share, in the same quarter last year.
The company’s revenue for the quarter was $159.6 million, down from $174.1 million in the second quarter of 2022.
KKR Real Estate Finance Trust attributed the loss to a number of factors, including higher interest rates, rising inflation, and the ongoing war in Ukraine. The company also said that it had taken a $10 million non-cash charge related to the remeasurement of its investment in a joint venture.
Despite the loss, KKR Real Estate Finance Trust said that it remains “well-positioned” for the future. The company said that it has a strong portfolio of assets and a diversified lending platform.
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