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The Screen · Real Estate · REIT - Mortgage
KREFKKR Real Estate Finance Trust Inc
KREF · the NYSE · USD · Market cap $469M
KKR Real Estate Finance Trust Inc., a mortgage real estate investment trust, focuses primarily on originating and acquiring transitional senior loans secured by commercial real estate (CRE) assets in the United States.
FAIL · Does not pass the screen
5.78 USD
Price as of 4 Nov 2026Daily close, not a live quote
Screened 2026-11-04 · the tape above runs as of 18:03 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price5.78 USD at the 4 Nov 2026 close
Our value readFair vs our fair value, as of 4 Nov 2026
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.00, read 2026-11-04
Ethical does not pass the values gate
Price5.78 USD
Fair value5.10
Ethical score70.0/100
Value readFairas of 4 Nov 2026
Our investment reviews on this name
2026-10-02Read Distribution6.76-14.5% to today ✓Markup gives way to Distribution after a 7% slide in 13 weeks
2026-07-02Read Markup7.23-20.1% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
KKR Real Estate Finance Trust Inc holds its Distribution at $5.78. Elevated stress, defensive posture warranted, held for 26 days.
As held on the ledger · 2026-11-04
Phase
Distribution · caution
Quantitative state
Elevated stress, defensive posture warranted, held for 26 days
Price at the screen
$5.78
Valuation
N/A trailing · 19.04 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.87
The Workings
Five Screens, Shown in Full
Does not pass. Business activity: conventional financial services
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Its core business involves an activity the values screen does not clear.
Fail
Debt load
63.90%
Below 33%
Interest-bearing debt is 63.9% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
1.74%
Below 49%
Money owed to the company is 1.7% of assets, under the 49% limit.
Pass
Revenue purity
100.00%
Below 5%
100.0% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
KKR Real Estate Finance Trust does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Get an email when KREF's ethical verdict changes
Today KREF does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 4 Nov 2026: it trades above our $5.10 fair value estimate, none competitive moat.
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. The price runs 13.3% above the base estimate.
Third-party analyst targets: 3 covering, consensus Hold. The average target sits +21% from the screen price.
Reading the gap · Our more conservative model reads it as roughly fairly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
KREF trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-02Distribution$5.29-10.8%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 10.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (3 analysts) rates it hold, with a mean price target of $6.
2026-10-26Distribution$5.93+0.0%Entry 8
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (3 analysts) rates it hold, with a mean price target of $6.
2026-10-19Distribution$5.93-12.3%Entry 7
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 12.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (3 analysts) rates it hold, with a mean price target of $6.
2026-10-02Distribution · changed$6.76-7.3%Entry 6
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 7.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (3 analysts) rates it hold, with a mean price target of $6.
2026-09-03Markup$7.29+0.0%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (3 analysts) rates it hold, with a mean price target of $6.
2026-08-04Markup$7.29+0.8%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (3 analysts) rates it hold, with a mean price target of $6.
2026-07-18Markup$7.23+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (3 analysts) rates it hold, with a mean price target of $6.
2026-07-03Markup$7.23+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markup$7.23Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.