KKR Real Estate Finance Trust (KREF) Operating Expenses (2016 - 2026)

KKR Real Estate Finance Trust (KREF) posted Operating Expenses of $138.3 million for Q2 2026, up 1835.88% on a QoQ basis from $7.1 million in Q1 2026, and up 2331.51% year-over-year from $5.7 million in Q2 2025.

KKR Real Estate Finance Trust (KREF) Operating Expenses (2016 - 2026) Analysis & Trends

KKR Real Estate Finance Trust's Operating Expenses history runs 11 years deep, the most recent figure standing at $138.3 million for Q2 2026.

  • Quarterly Operating Expenses rose 2331.51% year-over-year to $138.3 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $223.8 million (up 84.81% YoY) and the FY2025 annual result came in at $185.8 million, up 740.01% from the prior year.
  • Operating Expenses was $138.3 million for Q2 2026 at KKR Real Estate Finance Trust, up from $7.1 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $138.3 million in Q2 2026 and bottomed at $5.7 million in Q2 2025.
  • A 5-year average of $45.5 million and a median of $38.8 million in 2022 frame the typical range for Operating Expenses.
  • Peak annual rise in Operating Expenses reached 2331.51% in 2026, while the deepest fall reached 82.56% in 2026.
  • KKR Real Estate Finance Trust's Operating Expenses stood at $36.6 million in 2022, then surged by 73.86% to $63.6 million in 2023, then tumbled by 68.24% to $20.2 million in 2024, then soared by 195.86% to $59.7 million in 2025, then jumped by 131.49% to $138.3 million in 2026.
  • Business Quant data shows KREF's Operating Expenses at $138.3 million in Q2 2026, $7.1 million in Q1 2026, and $59.7 million in Q4 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Annaly Capital Management 16.30 Bn 14.44 Bn - 63.74 Mn
2 AGNC Investment 11.85 Bn 11.36 Bn - 34.00 Mn
3 Starwood Property Trust 5.99 Bn 5.94 Bn - 480.31 Mn
4 Rithm Capital 5.01 Bn 5.01 Bn - 1.24 Bn
5 Blackstone Mortgage Trust 2.78 Bn 2.24 Bn - 110.77 Mn
6 Ellington Financial 1.63 Bn 1.51 Bn - 80.37 Mn
7 Dynex Capital 1.56 Bn 1.05 Bn - 21.25 Mn
8 Armour Residential REIT 1.42 Bn 1.34 Bn - 17.16 Mn
9 Two Harbors Investment 1.27 Bn 987.19 Mn - 49.45 Mn
10 KKR Real Estate Finance Trust 446.61 Mn 422.08 Mn - 138.28 Mn

Historic Data

Download Data
DateValue
Jun 30, 2026 138.28 Mn
Mar 31, 2026 7.14 Mn
Dec 31, 2025 59.74 Mn
Sep 30, 2025 18.64 Mn
Jun 30, 2025 5.69 Mn
Mar 31, 2025 40.97 Mn
Dec 31, 2024 20.19 Mn
Sep 30, 2024 54.26 Mn
Jun 30, 2024 22.05 Mn
Mar 31, 2024 50.15 Mn
Dec 31, 2023 63.58 Mn
Sep 30, 2023 23.06 Mn
Jun 30, 2023 70.87 Mn
Mar 31, 2023 76.25 Mn
Dec 31, 2022 36.57 Mn
Sep 30, 2022 94.08 Mn
Jun 30, 2022 24.98 Mn
Mar 31, 2022 11.79 Mn
Dec 31, 2021 9.06 Mn
Sep 30, 2021 12.00 Mn