KKR Real Estate Finance Trust Inc.

NYSE:KREF Stock Report

Market Cap: US$405.6m

KKR Real Estate Finance Trust Valuation

Is KREF undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of KREF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: Insufficient data to calculate KREF's future cash flow value for valuation analysis.

Significantly Below Future Cash Flow Value: Insufficient data to calculate KREF's future cash flow value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KREF?

Key metric: As KREF is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for KREF. This is calculated by dividing KREF's market cap by their current revenue.
What is KREF's PS Ratio?
PS Ratio25.8x
SalesUS$15.84m
Market CapUS$405.58m

Price to Sales Ratio vs Peers

How does KREF's PS Ratio compare to its peers?

The above table shows the PS ratio for KREF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.9x
REFI Chicago Atlantic Real Estate Finance
4.4x2.41%US$242.0m
FBRT Franklin BSP Realty Trust
2.5x7.18%US$699.5m
BRSP BrightSpire Capital
2.3xn/aUS$755.6m
SEVN Seven Hills Realty Trust
6.5x12.81%US$187.6m
KREF KKR Real Estate Finance Trust
25.8x43.74%US$405.6m

Price-To-Sales vs Peers: KREF is expensive based on its Price-To-Sales Ratio (25.8x) compared to the peer average (3.9x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does KREF's PS Ratio compare vs other companies in the US Mortgage REITs Industry?

0 CompaniesPrice / SalesEstimated GrowthMarket Cap
No more companies available in this PS range
KREF 25.8xIndustry Avg. 4.7xNo. of Companies7PS02.85.68.411.214+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: KREF is expensive based on its Price-To-Sales Ratio (25.8x) compared to the US Mortgage REITs industry average (4.7x).

Price to Sales Ratio vs Fair Ratio

What is KREF's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KREF PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio25.8x
Fair PS Ratio0.7x

Price-To-Sales vs Fair Ratio: KREF is expensive based on its Price-To-Sales Ratio (25.8x) compared to the estimated Fair Price-To-Sales Ratio (0.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst KREF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$6.36
US$8.63
+35.61%
7.53%US$9.50US$8.00n/a4
Apr ’27US$6.01
US$8.63
+43.51%
7.53%US$9.50US$8.00n/a4
Mar ’27US$6.95
US$8.75
+25.90%
9.48%US$10.00US$8.00n/a4
Feb ’27US$8.28
US$10.15
+22.58%
17.18%US$13.00US$8.25n/a5
Jan ’27US$8.22
US$10.25
+24.70%
16.03%US$13.00US$8.50n/a5
Dec ’26US$8.37
US$10.25
+22.46%
16.03%US$13.00US$8.50n/a5
Nov ’26US$8.14
US$10.25
+25.92%
16.03%US$13.00US$8.50n/a5
Oct ’26US$8.99
US$11.00
+22.36%
12.53%US$13.00US$9.50n/a5
Sep ’26US$9.63
US$11.00
+14.23%
12.53%US$13.00US$9.50n/a5
Aug ’26US$9.07
US$11.00
+21.28%
12.53%US$13.00US$9.50n/a5
Jul ’26US$8.79
US$10.90
+24.00%
13.73%US$13.00US$9.00n/a5
Jun ’26US$8.93
US$10.90
+22.06%
13.73%US$13.00US$9.00n/a5
May ’26US$9.10
US$10.90
+19.78%
13.73%US$13.00US$9.00n/a5
Apr ’26US$10.66
US$12.88
+20.78%
6.32%US$14.00US$11.50US$6.016
Mar ’26US$11.09
US$12.88
+16.10%
6.32%US$14.00US$11.50US$6.956
Feb ’26US$9.98
US$12.71
+27.34%
8.83%US$14.00US$10.50US$8.286
Jan ’26US$10.10
US$13.00
+28.71%
5.88%US$14.00US$11.50US$8.226
Dec ’25US$11.63
US$13.08
+12.50%
4.64%US$14.00US$12.00US$8.376
Nov ’25US$11.60
US$13.08
+12.79%
4.64%US$14.00US$12.00US$8.146
Oct ’25US$11.98
US$13.00
+8.51%
6.66%US$14.00US$11.50US$8.996
Sep ’25US$11.93
US$12.42
+4.08%
5.41%US$13.00US$11.50US$9.636
Aug ’25US$11.45
US$12.42
+8.44%
5.41%US$13.00US$11.50US$9.076
Jul ’25US$8.89
US$10.75
+20.92%
8.06%US$12.00US$9.75US$8.795
Jun ’25US$9.46
US$10.75
+13.64%
8.06%US$12.00US$9.75US$8.935
May ’25US$9.65
US$10.75
+11.40%
8.06%US$12.00US$9.75US$9.105
Apr ’25US$9.86
US$11.25
+14.10%
9.16%US$13.00US$10.00US$10.666
US$8.63
Fair Value
26.3% undervalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/10 14:59
End of Day Share Price 2026/04/10 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

KKR Real Estate Finance Trust Inc. is covered by 8 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
William CatherwoodBTIG
Arren CyganovichCitigroup Inc
Christopher MullerCitizens JMP Securities, LLC