NEW YORK (AP) _ KKR Real Estate Finance Trust Inc. (KREF) on Thursday reported second-quarter net income of $17.3 million.
The New York-based company said it had profit of 30 cents per share. Earnings, adjusted for non-recurring costs, came to 36 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The real estate finance company posted revenue of $62.9 million in the period. Its adjusted revenue was $25.9 million.
KKR Real Estate shares have risen almost 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.03, a decrease of 3% in the last 12 months.