secwatch.observer — SEC 8-K summary
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Issuer:     Terra Property Trust, Inc. (TPTA)
CIK:        0001674356
Form:       8-K
Filed at:   2024-08-26T23:59:59+00:00
Accession:  0001104659-24-092608
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674356/000110465924092608/0001104659-24-092608-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674356/000110465924092608/tm2422627d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-092608

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