Press release
TPG RE Finance Trust, Inc. Reports Operating Results for the Quarter Ended March 31, 2025
NEW YORK--(BUSINESS WIRE)-- TPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) reported its operating results for the quarter ended March 31,
About this update from Tpg Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nTPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) reported its operating results for the quarter ended March 31, 2025.\n\nRegarding first quarter results, Doug Bouquard, Chief Executive Officer of TRTX, said: “TRTX produced solid operating results that again covered our $0.24 dividend. TRTX is differentiated by its strong liquidity, stable liability structure, and accretive capital allocation decisions. Over the past few months, TRTX issued a $1.1 billion CRE CLO and repurchased approximately $9 million of common shares while recently deploying capital into new investments. These moves increased our liquidity, extended the duration of our liabilities while reducing our cost of funds, and positioned us for increased capital deployment and Distributable Earnings in a dynamic market.”\n\nFIRST QUARTER 2025 ACTIVITY\n\n\nRecognized GAAP net income attributable to common stockholders of $10.0 million, or $0.12 per common share, based on a diluted weighted average share count of 81.8 million common shares. Book value per common share was $11.19 as of March 31, 2025.\n\n\nGenerated Distributable Earnings of $19.4 million, or $0.24 per common share based on a diluted weighed average share count of 81.8 million common shares.\n\n\nDeclared on March 14, 2025 a cash dividend of $0.24 per share of common stock which was paid on April 25, 2025 to common stockholders of record as of March 28, 2025. The Company paid on March 31, 2025 to stockholders of record as of March 21, 2025 a quarterly dividend on its 6.25% Series C Cumulative Redeemable Preferred Stock of $0.3906 per share.\n\n\nRepurchased 379,868 shares of common stock, at a weighted average price of $8.36 per share, for total consideration (including commissions and related fees) of $3.2 million.\n\n\nFunded $13.6 million of future funding obligations associated with previously originated and acquired loans.\n\n\nReceived loan repayments of $21.5 million relating to two office loans.\n\n\nWeighted average risk rating of the Company’s loan portfolio was 3.0 as of March 31, 2025, unchanged from December 31, 2024.\n\n\nCarried at quarter-end an allowance for credit losses of $67.2 million, an increase of $3.2 million from $64.0 million as of December 31, 2024. The quarter-end allowance equals 199 basis points of total loan commitments as of ...