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| Date | Value |
|---|---|
| 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 |