Verified call record已核验电话会记录 · 2026-07-22

KREF · KKR REAL ESTATE Q2 FY2026 earnings call record财报电话会记录

Verbatim, receipt-bound excerpts from the earnings-call transcript. This is a source record, not a synthesized analysis or recommendation.来自财报电话会文字记录的原文、可追溯摘录。这是来源记录，不是综合分析或推荐。

Continue in Terminal在终端继续研究KREF

12 exact excerpts 条原文摘录 14 numeric receipts 个数值回执 B governed source tier 治理来源层级 Transcript present电话会文本已具备

The record记录内容

Call language, kept intact.电话会表述，保持原貌。

The excerpts below are selected from the source record under the bounded evidence policy. Wording is not paraphrased; numbers remain the exact spans captured from the call.以下摘录按受限证据策略从来源记录中选出。文字未被改写；数字保持电话会中捕获的精确片段。

performancecapital_allocation

“Against that backdrop, we've reported distributable earnings before realized losses of $0.10 per share, covering our quarterly dividend.”

Matt Salem · CEOclaim_10e7bdef8fbe6004ba855d2607531dbe

Exact numeric spans精确数值片段0.10

performancecapital_allocation

“As a reminder, we continue to expect $0.40 per year of dividends to be covered by our annual distributable earnings before realized losses as we execute our business plan.”

Matt Salem · CEOclaim_939a7378c21506687576cfcffbf3aa0a

Exact numeric spans精确数值片段0.40

guidancerisks

“While we are still executing these resolutions and final outcomes could affect ultimate recovery levels, we believe the most significant book value impact is now behind us and that KREF is positioned for greater stability going forward.”

Matt Salem · CEOclaim_44602fb1081e4fe161ba3277948b5676

capital_allocation

“During the quarter, we repurchased $38 million of common stock at a weighted average price of $6.63 per share, generating approximately $0.32 per share of book value accretion.”

Matt Salem · CEOclaim_497b79f318370026343ea291e17d8c19

Exact numeric spans精确数值片段38 million6.630.32

capital_allocation

“Subsequent to quarter end, we repurchased an additional $10 million of common stock at a weighted average price of $7.24 per share.”

Matt Salem · CEOclaim_3f75438d1da37725c7b11ffc370c5281

Exact numeric spans精确数值片段10 million7.24

capital_allocation

“Future capital allocation decisions on share repurchases will be part of the strategic review process.”

Matt Salem · CEOclaim_5b035c5838ad781e9e1f5ac83b2af59e

risks

“During the quarter, two watchlist loans were resolved, including a repayment on our Georgetown multifamily loan, previously risk rated 4, as well as the Boston Life Science loan, which transitioned into the REO portfolio with no material impact to book value given prior reserves.”

Patrick Mattson · COOclaim_3d28e8399db191caca2abb39f2518156

Exact numeric spans精确数值片段4

risks

“Reflecting current market conditions, we downgraded our Chicago office and Carrollton multifamily loans from risk rated 4 to risk rated 5, and a $42 million Dallas multifamily asset from risk rated 3 to 4.”

Patrick Mattson · COOclaim_0333f34025ef134d99ed2c03e2b232cc

Exact numeric spans精确数值片段4542 million3

guidance

“As repayments continue, we expect total leverage to naturally move back into our target leverage range of three and a half to four times.”

Patrick Mattson · COOclaim_9c798c5ff022fb7b44d0ecaece899585

performanceq_and_a

“I wouldn't look at it as like if you're thinking about projecting and drags on earnings and things like that, and cash flow, I wouldn't be modeling it like that.”

Matt Salem · CEOclaim_0c0775f702428b5b5cbb625dea9ba4be

guidanceq_and_a

“It's really what we think about kind of that low double digit, 12% area in terms of the target.”

Matt Salem · CEOclaim_4df5c8402b022f9585eb233464a61f35

Exact numeric spans精确数值片段12%

risksq_and_a

“We had a big portfolio of multi, so when rates go up 500 basis points, there'll be some impact there, but we don't think it's really that material.”

Matt Salem · CEOclaim_3e19607886840013213ad5b7d0794c30

Exact numeric spans精确数值片段500

Inspect the source receipts检查来源回执26 bound spans个已绑定片段

Each row identifies the source body, transcript segment and byte span used to verify the visible text.每行标识用于核验可见文本的来源正文、电话会片段和字节范围。

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