KKR Real Estate Finance Trust Inc. (KREF) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: April 22, 2026

Risk Assessment Details

Potential Dilution: 26.55% of current shares
Recent Dilution: 0.02% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
65M
Potential Supply
17M
Additional shares possible
Splits
None
Past 2 years

Summary

KREF currently has 64.7M outstanding shares. with moderate dilution risk from 17.2M authorized shares representing 26.6% potential dilution. The company has minimally diluted shareholders by 0.02% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 22, 2026

10-Q filing | 64.7M shares outstanding

65M 17M
Jul 22, 2025

10-Q filing | 67.2M shares outstanding

67M 15M
Apr 30, 2025

S-3 filing: KKR Real Estate Finance Trust Inc. files an S-3 form to offer common stock, preferred stock, depositary shares, debt securities, subscription rights, and purchase contracts for up to $750,000,000, and also relates to the sale of up to 13,079,454 shares of common stock by existing stockholders.

69M 13M
Apr 23, 2025

10-Q filing | 68.8M shares outstanding

69M 0
Feb 03, 2025

10-K filing | 69.4M shares outstanding

69M 0
Oct 21, 2024

10-Q filing | 69.4M shares outstanding

69M 0
Jul 22, 2024

10-Q filing | 69.4M shares outstanding

69M 0
Apr 23, 2024

10-Q filing | 69.4M shares outstanding

69M 0
Feb 06, 2024

10-K filing | 69.2M shares outstanding

69M 0
Oct 23, 2023

10-Q filing | 69.1M shares outstanding

69M 0
Jul 24, 2023

10-Q filing | 69.1M shares outstanding

69M 0
Apr 24, 2023

10-Q filing | 69.1M shares outstanding

69M 0
Feb 07, 2023

10-K filing | 67.6M shares outstanding

68M 0
Oct 24, 2022

10-Q filing | 69.4M shares outstanding

69M 0
Jul 25, 2022

10-Q filing | 68.5M shares outstanding

69M 0
Apr 25, 2022

10-Q filing | 69.4M shares outstanding

69M 0
Mar 07, 2022

8-K filing: KKR Real Estate Finance Trust Inc. entered into an Underwriting Agreement for an offering of 6,000,000 shares of common stock, with an option for the Underwriters to purchase up to an additional 900,000 shares, resulting in net proceeds of approximately $123.66 million. ($123.66M proceeds)

57M 0
Feb 16, 2022

8-K filing: KKR Real Estate Finance Trust Inc. entered into a collateralized loan obligation through its wholly-owned subsidiaries KREF 2022-FL3 Ltd. and KREF 2022-FL3 LLC, issuing various classes of notes with an aggregate principal amount of $847,500,000 and 67,500 preferred shares to Retention Holder.

57M 0
Feb 08, 2022

10-K filing | 56.8M shares outstanding

57M 0
Jan 13, 2022

8-K filing: KKR Real Estate Finance Trust Inc. issued 6,210,000 shares of Series A Preferred Stock on January 13, 2022, receiving net proceeds of $151,166,925. ($151.17M proceeds)

56M 0
Jan 12, 2022

8-K filing: KKR Real Estate Finance Trust Inc. entered into underwriting agreements to issue and sell a total of 6,260,000 shares of its 6.50% Series A Cumulative Redeemable Preferred Stock at a public offering price of $25.13 per share.

56M 0
Nov 01, 2021

8-K filing: KKR Real Estate Finance Trust Inc. completed an underwritten offering of 5,000,000 shares of its common stock at a price that resulted in net proceeds of approximately $108.8 million, and granted the underwriters an option to purchase up to an additional 750,000 shares. ($108.8M proceeds)

56M 0
Oct 25, 2021

10-Q filing | 55.6M shares outstanding

56M 0
Jul 26, 2021

10-Q filing | 55.6M shares outstanding

56M 0
May 13, 2021

8-K filing: KKR Real Estate Finance Trust Inc. entered into an Underwriting Agreement for an underwritten offering of 5,000,000 shares of the Company's common stock by the Selling Stockholder, with an option for the Underwriters to purchase up to an additional 750,000 shares. The net proceeds from the offering were approximately $100.35 million, none of which will be received by the Company. ($100.35M proceeds)

56M 0
Apr 26, 2021

10-Q filing | 55.6M shares outstanding

56M 0
Apr 16, 2021

8-K filing: KKR Real Estate Finance Trust Inc. issued 6,900,000 shares of Series A Preferred Stock and received net proceeds of $167,066,250. ($167.07M proceeds)

56M 0
Apr 15, 2021

8-K filing: KKR Real Estate Finance Trust Inc. entered into an underwriting agreement to issue and sell 6,000,000 shares of its 6.50% Series A Cumulative Redeemable Preferred Stock at $25.00 per share, and granted the underwriters an option to purchase an additional 900,000 shares, which was fully exercised; the offering is expected to close on April 16, 2021.

56M 0
Feb 16, 2021

10-K filing | 56.0M shares outstanding

56M 0
Oct 26, 2020

10-Q filing | 55.6M shares outstanding

56M 0
Aug 03, 2020

10-Q filing | 55.5M shares outstanding

56M 0
Apr 28, 2020

10-Q filing | 57.3M shares outstanding

57M 0
Feb 19, 2020

10-K filing | 57.5M shares outstanding

58M 0
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