KKR Real Estate: 3Q Earnings Snapshot

NEW YORK (AP) _ KKR Real Estate Finance Trust Inc. (KREF) on Monday reported third-quarter profit of $21 million.

On a per-share basis, the New York-based company said it had profit of 37 cents. Earnings, adjusted for non-recurring costs, came to 38 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The real estate finance company posted revenue of $51.9 million in the period.

KKR Real Estate shares have decreased nearly 1 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $19.89, a fall of slightly more than 2 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KREF at https://www.zacks.com/ap/KREF