KKR Real Estate Finance Trust swung to a wider loss, posting net loss attributable to common stockholders of USD 121.79 million, or USD 1.95 a share.
Distributable loss widened to USD 36.37 million, or USD 0.58 a share; dividends declared fell to USD 0.10 a share.
Book value per share slid to USD 10.24.
Revenue, expenses and leverage
Total net interest income dropped 31% to USD 18.18 million on lower interest income of USD 85.49 million.
Total operating expenses climbed 51% to USD 138.28 million, driven by a USD 75.09 million provision for credit losses and a USD 44.75 million fair-value change on a loan held-for-sale.
Debt-to-equity ratio rose to 2.6x and total leverage increased to 4.3x.
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