KKR Real Estate Finance Trust Inc.

DB:8KR Stock Report

Market Cap: €690.5m

KKR Real Estate Finance Trust Valuation

Is 8KR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 8KR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 8KR (€9.8) is trading above our estimate of fair value (€2.7)

Significantly Below Fair Value: 8KR is trading above our estimate of fair value.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8KR?

Key metric: As 8KR is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 8KR. This is calculated by dividing 8KR's market cap by their current revenue.
What is 8KR's PS Ratio?
PS Ratio10.6x
SalesUS$66.59m
Market CapUS$714.51m

Price to Sales Ratio vs Peers

How does 8KR's PS Ratio compare to its peers?

The above table shows the PS ratio for 8KR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average13x
BFV Berliner Effektengesellschaft
6.9xn/a€849.2m
PBB Deutsche Pfandbriefbank
1.9x11.2%€685.8m
ADE Bitcoin Group
41.9xn/a€265.0m
GLJ Grenke
1.4x14.1%€721.9m
8KR KKR Real Estate Finance Trust
10.6x20.6%€714.5m

Price-To-Sales vs Peers: 8KR is good value based on its Price-To-Sales Ratio (10.6x) compared to the peer average (13x).


Price to Sales Ratio vs Industry

How does 8KR's PS Ratio compare vs other companies in the Global Mortgage REITs Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
8KR 10.6xIndustry Avg. 5.1xNo. of Companies5PS03.26.49.612.816+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 8KR is expensive based on its Price-To-Sales Ratio (10.6x) compared to the Global Mortgage REITs industry average (5.2x).


Price to Sales Ratio vs Fair Ratio

What is 8KR'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.

8KR PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio10.6x
Fair PS Ratio2.9x

Price-To-Sales vs Fair Ratio: 8KR is expensive based on its Price-To-Sales Ratio (10.6x) compared to the estimated Fair Price-To-Sales Ratio (2.9x).


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 8KR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€9.80
€12.32
+25.7%
5.9%€13.27€10.90n/a6
Jan ’26€9.75
€12.32
+26.4%
5.9%€13.27€10.90n/a6
Dec ’25€11.00
€12.05
+9.5%
4.6%€12.89€11.05n/a6
Nov ’25€10.50
€12.05
+14.7%
4.6%€12.89€11.05n/a6
Oct ’25€11.00
€11.65
+5.9%
6.7%€12.54€10.30n/a6
Sep ’25€10.60
€11.49
+8.4%
5.4%€12.03€10.64n/a6
Aug ’25€10.50
€11.49
+9.4%
5.4%€12.03€10.64n/a6
Jul ’25€8.30
€10.07
+21.3%
8.1%€11.24€9.13n/a5
Jun ’25€8.55
€10.07
+17.8%
8.1%€11.24€9.13n/a5
May ’25€8.85
€10.07
+13.8%
8.1%€11.24€9.13n/a5
Apr ’25€9.15
€10.38
+13.4%
9.2%€11.99€9.23n/a6
Mar ’25€8.90
€10.35
+16.3%
8.5%€12.00€9.23n/a7
Feb ’25€11.30
€11.64
+3.0%
9.0%€13.32€10.11n/a6
Jan ’25€12.10
€11.94
-1.3%
10.6%€13.89€10.19€9.757
Dec ’24€11.50
€11.57
+0.6%
9.5%€13.69€10.04€11.007
Nov ’24€9.80
€12.00
+22.4%
9.5%€14.19€10.41€10.507
Oct ’24€11.10
€12.33
+11.1%
8.3%€13.74€10.99€11.007
Sep ’24€11.50
€12.33
+7.2%
8.3%€13.74€10.99€10.607
Aug ’24€11.30
€12.27
+8.5%
9.1%€13.52€10.82€10.507
Jul ’24€11.10
€11.46
+3.2%
12.5%€13.59€9.97€8.307
Jun ’24€10.50
€11.46
+9.1%
12.5%€13.59€9.97€8.557
May ’24€9.55
€11.46
+20.0%
12.5%€13.59€9.97€8.857
Apr ’24€10.00
€15.57
+55.7%
4.7%€16.92€14.57€9.157
Mar ’24€13.60
€15.72
+15.6%
5.2%€16.79€14.46€8.907
Feb ’24€14.50
€16.26
+12.1%
6.3%€18.21€14.56€11.307
Jan ’24€12.90
€17.32
+34.2%
4.8%€18.72€15.91€12.107

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 Analysis2025/01/07 16:33
End of Day Share Price 2025/01/07 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

KKR Real Estate Finance Trust Inc. is covered by 9 analysts. 5 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
Eric HagenBTIG
Arren CyganovichCitigroup Inc