SmarterDividends
KREF

KKR Real Estate Finance Trust Inc.

KREF

Real Estate · REIT - Mortgage · Stock · quarterly payer

$5.80

Fairly valued · -5% Add to Portfolio

Forward Yield

6.90%

Annual Dividend

$0.40

Payout Ratio

625%

5-Yr Growth

-10.3%

Ex-Date

Sep 30, 2026

Frequency

Quarterly

Key facts about KREF's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 18, 2026, KKR Real Estate Finance Trust Inc. (KREF) has a forward dividend yield of 6.90%, based on an annual dividend of $0.40 per share and a share price of $5.80.
  • As of Oct 18, 2026, KREF's dividend safety grade from SmarterDividends is D (43 out of 100), which rates the dividend as unsafe.
  • KREF last cut its regular dividend in 2024.
  • KREF's most recent ex-dividend date was Sep 30, 2026, for a dividend of $0.10 per share.
  • KREF's dividend has shrunk at an average rate of 10.3% a year over the past five years.
  • As of Oct 18, 2026, KREF's 6.90% yield is 35% below its five-year average yield of 10.58%.
  • As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for KREF is $5.52 per share, 5% below the $5.80 share price, so KREF screens as fairly valued.
  • KKR Real Estate Finance Trust Inc. (KREF) pays its dividend quarterly, 4 times a year.
  • KKR Real Estate Finance Trust Inc. (KREF) has raised its regular dividend 3 times and cut it 2 times across the 39 payments on record since 2017. Its most recent change was a 60.0% cut to $0.100 per share, going ex-dividend on Jun 30, 2026.
Cite this page

SmarterDividends, "KREF Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/KREF

Summary

As of Oct 18, 2026, KKR Real Estate Finance Trust Inc. (KREF) yields 6.90% ($0.40 a year per share) and has a dividend safety grade of D (43/100).

Is KREF a good dividend stock?

Mixed

KKR Real Estate Finance Trust Inc. (KREF) pays a quarterly dividend yielding 6.90% ($0.40/yr), with 0 years of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Advantages

    Risks

    • Cut its dividend in 2024
    • Elevated payout ratio (625%)
    • Dividend has been shrinking, not growing
    • Share price is down over the past 5 years
    • Below-average dividend safety score

    Key Data

    Dividend Yield
    6.90%
    Payout Ratio
    625%
    Annual Dividend
    $0.40
    5-Yr Avg Growth
    -10.3%
    Ex-Dividend Date
    Sep 30, 2026
    Years of Growth
    0
    Frequency
    quarterly
    Beta
    0.93
    Market Cap
    $339.8M
    P/E Ratio
    —
    5-Yr Total Return
    -72%
    52-Week Range
    $5.25 – $9.11
    Dividend Safety
    D · 43/100
    Ever Cut?
    Yes (2024)

    KREF dividend raises and cuts

    KKR Real Estate Finance Trust Inc. (KREF) has raised its regular dividend 3 times and cut it 2 times across the 39 payments on record since 2017. Its most recent change was a 60.0% cut to $0.100 per share, going ex-dividend on Jun 30, 2026.

    Ex-dateChangeOld → newMove
    Jun 30, 2026Cut$0.250 → $0.100−60.0%
    Mar 27, 2024Cut$0.430 → $0.250−41.9%
    Jun 28, 2018Raise$0.400 → $0.430+7.5%
    Mar 28, 2018Raise$0.370 → $0.400+8.1%
    Sep 28, 2017Raise$0.250 → $0.370+48.0%
    Every KREF payment →Download every raise and cut (CSV)
    KREF ex-dividend date & scheduleNext ex-date Sep 30, 2026 · full ex-dividend historyView →KREF dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is KREF a good dividend stock?

    Mixed. KKR Real Estate Finance Trust Inc. (KREF) pays a quarterly dividend yielding 6.90% ($0.40/yr), with 0 years of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

    Is KREF undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, KREF's fair value is about $5.52 versus a $5.80 share price — so it looks fairly valued (-5% vs. fair value).

    Is KREF's dividend safe?

    KREF has a dividend-safety grade of D (43/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2024, debt and yield-versus-history.

    What is KREF's fair value?

    Our blended fair-value estimate for KREF is about $5.52 per share, about 5% below the current $5.80 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is KREF a buy, hold, or sell?

    We don't issue formal ratings, but on the data KREF screens as "mixed" and fairly valued. KKR Real Estate Finance Trust Inc. (KREF) pays a quarterly dividend yielding 6.90% ($0.40/yr), with 0 years of growth and a dividend-safety grade of D. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal. This is research for your own analysis, not investment advice.

    Will KREF cut its dividend?

    KREF earns a dividend-safety grade of D (43/100), and has cut its dividend before (last in 2024). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does KREF pay a dividend?

    Yes. KKR Real Estate Finance Trust Inc. pays a quarterly dividend of about $0.40 per share annually, a forward yield of roughly 6.90%.

    What is KREF's dividend yield?

    As of Oct 18, 2026, KREF's forward dividend yield is 6.90%, based on a $0.40 annual dividend and a $5.80 share price.

    What is KREF's dividend per share?

    As of Oct 18, 2026, KREF pays $0.40 per share per year, distributed on a quarterly basis.

    What is KREF's dividend payout ratio?

    As of Oct 18, 2026, KREF's payout ratio is 625% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has KREF grown its dividend?

    KREF does not currently have a long dividend-growth streak on record.

    When is the next KREF ex-dividend date?

    As of Oct 18, 2026, KREF's next ex-dividend date hasn't been announced. The most recent was Sep 30, 2026, for $0.10 per share.

    KREF Dividend News

    KREF
    CutKREF·Jul 1, 2026

    KKR Real Estate Finance Trust Cuts Quarterly Dividend

    KKR Real Estate Finance Trust reduced its quarterly common dividend to $0.10 a share, lowering the annualized payout for shareholders after a prior cut in 2024.

    Income Calculator

    At $0.40 / yr per share

    Per payment (quarterly)$10.00
    Annual$40.00
    Monthly avg$3.33

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