KKR Real Estate Finance slides on equity offering

KKR Real Estate Finance Trust

02/06/2022 21:38

** KKR Real Estate Finance Trust  KREF.N  shares down 4.5%
in extended trading after commencing follow-on
    ** Commercial mortgage REIT announces 7 mln share offering,
including 4.25 mln shares to be sold by KKR subsidiary  KKR.N 
 urn:newsml:reuters.com:*:nBw1QpC6ja
    ** KREF's book value/sh was $19.46 at end-Mar vs $19.37 at
end-Dec, per latest filing https://www.sec.gov/ix?doc=/Archives/edgar/data/1631596/000163159622000024/kref-20220331.htm
    ** Shares on Thurs closed down 0.1% at $20.63, but have
gained ~7% in past month
    ** Co has ~67.9 mln shares outstanding for ~$1.4 bln market
cap, per Refinitiv data
    ** Morgan Stanley, Wells Fargo, Goldman, Raymond James,
Barclays, Citigroup, Deutsche Bank, JP Morgan and KBW leading
the offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))