KKR Real Estate Finance Trust (KREF) Non-Current Debt (2016 - 2026)
KKR Real Estate Finance Trust's (KREF) quarterly Non-Current Debt came in at $3.0 billion in Q2 2026, up 2.57% on a YoY basis from $2.9 billion in Q2 2025, and up 7.96% quarter-over-quarter from $2.8 billion in Q1 2026.
Analysis
KKR Real Estate Finance Trust (KREF) Non-Current Debt (2016 - 2026) Analysis & Trends
KKR Real Estate Finance Trust (KREF) has reported Non-Current Debt for 11 consecutive years, with $3.0 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Non-Current Debt rose 2.57% year-over-year to $3.0 billion; the trailing twelve-month figure through Jun 2026 stood at $3.0 billion (up 2.57% YoY), and the FY2025 full-year result was $2.9 billion, up 2.29% from the prior year.
- Non-Current Debt advanced to $3.0 billion in Q2 2026 per KREF's latest filing, from $2.8 billion in the prior quarter.
- Across five years, Non-Current Debt topped out at $3.9 billion in Q1 2023 and bottomed at $2.7 billion in Q3 2025.
- Historically, Non-Current Debt has averaged $3.3 billion across 5 years, with a median of $3.2 billion in 2022.
- The sharpest annual moves came in 2023 and 2024: Non-Current Debt grew 27.68% in 2023, then slipped 26.01% in 2024.
- Over 5 years, Non-Current Debt stood at $3.7 billion in 2022, then rose by 0.9% to $3.8 billion in 2023, then retreated by 26.01% to $2.8 billion in 2024, then climbed by 2.29% to $2.9 billion in 2025, then increased by 5.64% to $3.0 billion in 2026.
- According to Business Quant data, Non-Current Debt over the past three periods registered $3.0 billion, $2.8 billion, and $2.9 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Non-Current Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 16.87 Bn | 13.96 Bn | - | 34.37 Bn |
| 2 | AGNC Investment | 12.43 Bn | 11.10 Bn | - | 89.81 Bn |
| 3 | Starwood Property Trust | 5.84 Bn | 3.67 Bn | - | 14.00 Bn |
| 4 | Rithm Capital | 5.57 Bn | 5.57 Bn | - | - |
| 5 | Dynex Capital | 2.88 Bn | 2.27 Bn | - | 22.64 Bn |
| 6 | Two Harbors Investment | 2.65 Bn | 2.01 Bn | - | 111.35 Mn |
| 7 | Blackstone Mortgage Trust | 2.35 Bn | 1.91 Bn | - | 1.22 Bn |
| 8 | Armour Residential REIT | 2.11 Bn | 2.02 Bn | - | 19.44 Bn |
| 9 | Ellington Financial | 1.71 Bn | 1.46 Bn | - | 654.96 Mn |
| 10 | KKR Real Estate Finance Trust | 468.79 Mn | 385.73 Mn | - | 3.02 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.02 Bn |
| Mar 31, 2026 | 2.80 Bn |
| Dec 31, 2025 | 2.86 Bn |
| Sep 30, 2025 | 2.70 Bn |
| Jun 30, 2025 | 2.95 Bn |
| Mar 31, 2025 | 3.02 Bn |
| Dec 31, 2024 | 2.80 Bn |
| Sep 30, 2024 | 3.02 Bn |
| Jun 30, 2024 | 3.29 Bn |
| Mar 31, 2024 | 3.52 Bn |
| Dec 31, 2023 | 3.78 Bn |
| Sep 30, 2023 | 3.83 Bn |
| Jun 30, 2023 | 3.81 Bn |
| Mar 31, 2023 | 3.88 Bn |
| Dec 31, 2022 | 3.75 Bn |
| Sep 30, 2022 | 3.47 Bn |
| Jun 30, 2022 | 3.57 Bn |
| Mar 31, 2022 | 3.04 Bn |
| Dec 31, 2021 | 3.73 Bn |
| Sep 30, 2021 | 2.96 Bn |