Terra Property Trust Q2 2024 net loss $7.5M, pays $0.19 dividend; 96% floating-rate portfolio

Terra Property Trust, Inc.

2024-Q2 EPS reported -$0.56 revenue$26,182,865

GAAP net loss of $7.5M or $0.31 per basic/diluted share; driven by lower interest income on NPLs and non-cash charges.
CECL reserve of $2.6M ($0.11/share); non-performing loans reduced to 6 from 8 in Q2.
Cash dividend of $0.19/share paid in Q1 2024; cumulative distributions ~70% of contributed capital.
Portfolio weighted-average gross yield 13.02%; net yield 15.3%; avg cost of debt 8.15%, leverage 1.75x.
96% of $415M loan portfolio floating rate; avg remaining term ~10 months; potential liquidity events discussed.

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