---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-087319"
form_type: "8-K"
ticker: "TPTA"
cik: "0001674356"
company_name: "Terra Property Trust, Inc."
filed_at: "2025-09-04T23:59:59+00:00"
generated_at: "2026-05-17T08:19:16.187848+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Terra Property Trust reports Q2 2025 GAAP net loss of $9.1M ($0.38/share)

## Summary
- Net loss driven by reduced interest income from non-performing loans and non-cash charges; CECL reserve of $1.4M.
- Monthly cash dividend maintained at $0.10/share for 114th consecutive month.
- Portfolio leverage at 1.54x debt-to-equity; weighted avg loan yield 13.8% gross, 15.0% net of leverage.
- 95% of loan portfolio floating rate; approximately $165M debt reduction since Dec 2023.
- Management discusses potential liquidity events: IPO, direct listing, strategic merger, or conversion to non-traded REIT.

## SEC filing metadata
- accession: 0001104659-25-087319
- form_type: 8-K
- ticker: TPTA
- cik: 0001674356
- company_name: Terra Property Trust, Inc.
- filed_at: 2025-09-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1674356/000110465925087319/0001104659-25-087319-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1674356/000110465925087319/tm2525194d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-087319
- JSON: https://secwatch.observer/filing/0001104659-25-087319.json
- Plain text: https://secwatch.observer/filing/0001104659-25-087319.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.