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KR Real Estate Finance Trust Inc. (KREF) has released its annual report for the fiscal year ending December 31, 2024, revealing a significant turnaround in financial performance. The company's net income attributable to common stockholders soared to $13.1 million, or $0.19 per diluted share, compared to a net loss of $53.9 million in the previous year.

    A key factor driving this improvement was a substantial decrease in credit losses provision. Meanwhile, total net interest income for the year dropped to $151.7 million, down from $181.6 million in 2023, primarily due to a reduced loan portfolio size and suspended interest income on nonaccrual loans.

    KKR Real Estate Finance Trust Inc. maintained its dividend payout at $1.00 per common share, a notable decrease from the previous year's $1.72 per share. The company's loan portfolio stood at $6.3 billion as of December 31, 2024, with non-mark-to-market financing accounting for 79% of secured financing.

    Notably, KKR Real Estate Finance Trust Inc. repurchased 859,055 shares of its common stock at an average price of $11.64 per share, totaling $10.0 million during the year. The company's cash and cash equivalents stood at $104.9 million, with total assets amounting to $6.35 billion.

    KKR Real Estate Finance Trust Inc.'s focus remains on originating floating-rate senior loans, which it finances through repurchase facilities and other sources. As of December 31, 2024, all investments were located within the United States. However, the company identified a material weakness in its internal controls over financial reporting due to a lack of resources with SEC financial reporting experience.

    The company's total liabilities stood at $4.95 billion, while total equity reached $1.40 billion as of December 31, 2024.