KKR Real Estate Finance Trust Inc.

NYSE:KREF Stock Report

Market Cap: US$805.0m

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

0/6

Valuation Score 0/6

  • 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 KREF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate KREF's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate KREF's fair 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 Ratio12.1x
SalesUS$66.59m
Market CapUS$804.96m

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 Average7.4x
CMTG Claros Mortgage Trust
17.9x36.5%US$903.1m
RWT Redwood Trust
3.5x-24.2%US$948.4m
TRTX TPG RE Finance Trust
5.4x-6.9%US$718.6m
CIM Chimera Investment
2.7x-10.1%US$1.2b
KREF KKR Real Estate Finance Trust
12.1x19.5%US$805.0m

Price-To-Sales vs Peers: KREF is expensive based on its Price-To-Sales Ratio (12.1x) compared to the peer average (7.4x).

Price to Sales Ratio vs Industry

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

1 CompanyPrice / SalesEstimated GrowthMarket Cap
BMNM Bimini Capital Management
0.7xn/aUS$9.54m
No more companies available in this PS range
KREF 12.1xIndustry Avg. 5.5xNo. of Companies5PS03.26.49.612.816+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: KREF is expensive based on its Price-To-Sales Ratio (12.1x) compared to the US Mortgage REITs industry average (5.5x).

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 Ratio12.1x
Fair PS Ratio2.4x

Price-To-Sales vs Fair Ratio: KREF is expensive based on its Price-To-Sales Ratio (12.1x) compared to the estimated Fair Price-To-Sales Ratio (2.4x).

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$11.57
US$13.08
+13.1%
4.6%US$14.00US$12.00n/a6
Nov ’25US$11.60
US$13.08
+12.8%
4.6%US$14.00US$12.00n/a6
Oct ’25US$11.98
US$13.00
+8.5%
6.7%US$14.00US$11.50n/a6
Sep ’25US$11.93
US$12.42
+4.1%
5.4%US$13.00US$11.50n/a6
Aug ’25US$11.45
US$12.42
+8.4%
5.4%US$13.00US$11.50n/a6
Jul ’25US$8.89
US$10.75
+20.9%
8.1%US$12.00US$9.75n/a5
Jun ’25US$9.46
US$10.75
+13.6%
8.1%US$12.00US$9.75n/a5
May ’25US$9.65
US$10.75
+11.4%
8.1%US$12.00US$9.75n/a5
Apr ’25US$9.86
US$11.25
+14.1%
9.2%US$13.00US$10.00n/a6
Mar ’25US$9.85
US$11.21
+13.9%
8.5%US$13.00US$10.00n/a7
Feb ’25US$12.29
US$12.67
+3.1%
9.0%US$14.50US$11.00n/a6
Jan ’25US$13.23
US$12.89
-2.5%
10.6%US$15.00US$11.00n/a7
Dec ’24US$12.92
US$12.68
-1.9%
9.5%US$15.00US$11.00n/a7
Nov ’24US$10.59
US$12.68
+19.7%
9.5%US$15.00US$11.00US$11.607
Oct ’24US$11.87
US$13.46
+13.4%
8.3%US$15.00US$12.00US$11.987
Sep ’24US$12.61
US$13.46
+6.8%
8.3%US$15.00US$12.00US$11.937
Aug ’24US$12.21
US$13.61
+11.4%
9.1%US$15.00US$12.00US$11.457
Jul ’24US$12.17
US$12.64
+3.9%
12.5%US$15.00US$11.00US$8.897
Jun ’24US$11.38
US$12.64
+11.1%
12.5%US$15.00US$11.00US$9.467
May ’24US$10.40
US$12.64
+21.6%
12.5%US$15.00US$11.00US$9.657
Apr ’24US$11.39
US$16.57
+45.5%
4.7%US$18.00US$15.50US$9.867
Mar ’24US$14.13
US$16.86
+19.3%
5.2%US$18.00US$15.50US$9.857
Feb ’24US$16.20
US$17.86
+10.2%
6.3%US$20.00US$16.00US$12.297
Jan ’24US$13.96
US$18.50
+32.5%
4.8%US$20.00US$17.00US$13.237
Dec ’23US$16.23
US$18.79
+15.7%
3.4%US$20.00US$18.00US$12.927
Nov ’23US$17.57
US$18.79
+6.9%
3.4%US$20.00US$18.00US$10.597

Analyst Forecast: Target price is less than 20% higher than the current share price.

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