PreferredStockChannel
KKR Real Estate Finance Trust Inc | 6.50% Series A Cumulative Red Prfd Stock (KREF.PRA)

Prospectus excerpt:  KKR Real Estate Finance Trust Inc. is offering 6,000,000 shares of our 6.50% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock” or the “Shares”). When, as, and if authorized by our board of directors and declared by us, dividends on the Series A Preferred Stock will be payable quarterly in arrears on or about March 15, June 15, September 15, and December 15 of each year at a rate per annum equal to 6.50% per annum of the $25.00 liquidation preference. Dividends on the Shares are cumulative. The first dividend on the Series A Preferred Stock sold in this offering will be paid on June 15, 2021, will cover the period from, but not including, April 16, 2021 to, but not including, June 15, 2021 and will be in the amount of $0.266319 per share. At any time or from time to time on or after April 16, 2026, we may, at our option, redeem the Series A Preferred Stock, in whole or in part, at a price of $25.00 per share of Series A Preferred Stock plus accrued and unpaid dividends (whether or not declared), if any. See “Description of Series A Preferred Stock—Redemption.” If a Change of Control Event (defined herein) occurs, we may, at our option, redeem the Series A Preferred Stock, in whole or in part, within 120 days after the first date on which such Change of Control occurred by paying $25.00 per share of Series A Preferred Stock, plus any accrued and unpaid dividends (whether or not declared) to, but not including, the date of redemption. To the extent we exercise our redemption right relating to the Series A Preferred Stock, the holders of Series A Preferred Stock will not be permitted to exercise the conversion right described below in respect of their Shares called for redemption. See “Description of Series A Preferred Stock—Special Optional Redemption.” The Series A Preferred Stock has no maturity date and will remain outstanding indefinitely unless redeemed by us or converted in connection with a Change of Control by the holders of Series A Preferred Stock.

Full Prospectus PDF », Secondary Prospectus PDF », KREF Page »

Series:A
Alternate symbology:KREF-A, KREF-PA, KREFprA
Redeemable?:Yes
Call Date:4/16/2026
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:6,000,000
Overallotment:900,000
Liquidation Preference:$25.00
Recent Market Price:$18.15
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-6.85 (-27.40%)
Annualized Dividend:1.625
Recent Ex-Date:2/28/2024
Current Yield:8.95%
Original Coupon:6.50%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
CDx3 Compliance Rating: Learn KREF.PRA's Rating
KKR Real Estate Finance Trust is a holding company. Through its subsidiaries, Co. is a real estate finance company that focuses primarily on originating and acquiring transitional senior loans secured by institutional-quality commercial real estate properties. Co.'s target assets also include mezzanine loans, preferred equity and other debt-oriented instruments. Co.'s investment objective is capital preservation and the generation of risk-adjusted returns for its stockholders primarily through dividends. Co. has a range of investment portfolio, consisting primarily of performing senior and mezzanine commercial real estate loans.

Preferred: KREF.PRA


Open the KREF Information Page »
Name: 
KKR Real Estate Finance Trust Inc
Website: 
www.kkrreit.com
Sector: 
REITs
Number of ETFs Holding KREF: 
43 (see which ones)
Total Market Value Held by ETFs: 
$146,954,778.54
Total Market Capitalization: 
$697,000,000
% of Market Cap. Held by ETFs: 
21.08%

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