KKR Real Estate Finance Trust Investor Presentation Deck
3Q'20 Financial Summary
($ in Millions)
Net Interest Income
Other Income
Income Statement
Operating Expenses and Other
CECL Provision for Credit Loss, Net
Net Income Attributable to Common Stockholders
Weighted Average Shares Outstanding, Diluted
Net Income per Share, Diluted
Core Earnings (1)
Core Earnings per Share, Diluted (¹)
Dividend per Share
35
3Q20
$38.9
1.1
(8.7)
0.1
$31.4
55,632,170
$0.56
$32.5
$0.58
$0.43
($ in Millions)
Total Portfolio
Term Credit Facilities
Term Lending Agreement
Asset Specific Financing
Secured Term Loan
Convertible Notes
Total Debt
Term Loan Facility
Collateralized Loan Obligation
Senior Loan Interests (²)
Total Leverage
Cash
Total Permanent Equity
Debt-to-Equity Ratio (³)
Total Leverage Ratio (4)
Shares Outstanding
Book Value per Share (5)
Balance Sheet
(1) See Appendix for definition and reconciliation to financial results prepared in accordance with GAAP.
(2) Includes loans financed through the non-recourse sale of a senior interest that is not included in our GAAP consolidated financial statements.
(3) Represents (i) total debt less cash to (ii) total permanent equity. The debt-to-equity ratio, adjusted for the impact of CECL allowance for credit losses, is 1.8x at 3Q'20.
(4) Represents (i) total leverage less cash to (ii) total permanent equity. The total leverage ratio, adjusted for the impact of CECL allowance for credit losses, is 3.6x at 3Q'20.
(5) Book value per share includes (i) CECL credit loss allowance of ($64.1) million or ($1.16) per common share, (ii) write-off of ($4.7) million or ($0.08) per common share on the Company's $5.5 million
mezzanine loan, and (iii) the YTD impact of ($0.3) million, or $0.01 per common share, non-cash redemption value adjustment to our redeemable SNVPS, resulting in a cumulative (since issuance of the
SNVPS) decrease of $2.0 million to our book value as of September 30, 2020.
3Q20
$5,034.5
910.8
900.0
60.0
300.0
143.8
$2,314.6
982.0
810.0
143.6
$4,250.2
301.4
1,039.1
1.9x
3.8x
55,491,405
$18.73
KKR
REAL ESTATE
FINANCE TRUSTView entire presentation