KKR Real Estate Finance Trust (KREF) Accumulated Expenses (2019 - 2025)
KKR Real Estate Finance Trust's (KREF) quarterly Accumulated Expenses came in at $2.5 million in Q4 2025, down 37.81% YoY from $4.1 million in Q4 2024, and down 79.91% on a QoQ basis from $12.7 million in Q3 2025.
KKR Real Estate Finance Trust (KREF) Accumulated Expenses (2019 - 2025) Analysis & Trends
KKR Real Estate Finance Trust (KREF) has 7 years of Accumulated Expenses data on file, last reported at $2.5 million in Q4 2025.
- Quarterly Accumulated Expenses fell 37.81% year-over-year to $2.5 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $2.5 million (down 37.81% YoY) and the FY2025 annual result came in at $2.5 million, down 37.81% from the prior year.
- Accumulated Expenses declined to $2.5 million in Q4 2025, from $12.7 million in the prior quarter.
- In the past five years, Accumulated Expenses ranged from a high of $22.8 million in Q3 2024 to a low of $1.2 million in Q3 2022.
- A 5-year average of $11.5 million and a median of $12.9 million in 2025 frame the typical range for Accumulated Expenses.
- Annual changes were most pronounced in 2023 — Accumulated Expenses surged 1515.67% — and 2024, when it slumped 79.72%.
- Tracing KREF's Accumulated Expenses over 5 years: stood at $6.6 million in 2021, then jumped by 169.49% to $17.9 million in 2022, then grew by 13.15% to $20.2 million in 2023, then tumbled by 79.72% to $4.1 million in 2024, then tumbled by 37.81% to $2.5 million in 2025.
- The last three Accumulated Expenses figures came in at $2.5 million (Q4 2025), $12.7 million (Q3 2025), and $13.0 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Annaly Capital Management | 17.29 Bn | 14.38 Bn | - |
| 2 | AGNC Investment | 12.65 Bn | 11.32 Bn | - |
| 3 | Starwood Property Trust | 5.95 Bn | 3.79 Bn | - |
| 4 | Rithm Capital | 5.71 Bn | 5.71 Bn | - |
| 5 | Dynex Capital | 2.93 Bn | 2.32 Bn | - |
| 6 | Blackstone Mortgage Trust | 2.40 Bn | 1.97 Bn | - |
| 7 | Armour Residential REIT | 2.12 Bn | 2.03 Bn | - |
| 8 | Ellington Financial | 1.73 Bn | 1.49 Bn | - |
| 9 | Orchid Island Capital | 1.34 Bn | 654.61 Mn | 61.82 Mn |
| 10 | KKR Real Estate Finance Trust | 456.61 Mn | 373.55 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 2.55 Mn |
| Sep 30, 2025 | 12.68 Mn |
| Jun 30, 2025 | 13.04 Mn |
| Mar 31, 2025 | 14.76 Mn |
| Dec 31, 2024 | 4.10 Mn |
| Sep 30, 2024 | 22.76 Mn |
| Jun 30, 2024 | 16.70 Mn |
| Mar 31, 2024 | 19.25 Mn |
| Dec 31, 2023 | 20.21 Mn |
| Sep 30, 2023 | 19.39 Mn |
| Jun 30, 2023 | 18.27 Mn |
| Mar 31, 2023 | 21.70 Mn |
| Dec 31, 2022 | 17.86 Mn |
| Sep 30, 2022 | 1.20 Mn |
| Jun 30, 2022 | 1.80 Mn |
| Mar 31, 2022 | 2.50 Mn |
| Dec 31, 2021 | 6.63 Mn |
| Sep 30, 2021 | 1.80 Mn |
| Jun 30, 2021 | 5.43 Mn |
| Mar 31, 2021 | 7.87 Mn |