earnings
confidence high
sentiment positive
materiality 0.75
TRTX Q4 net income $41.4M ($0.51/sh); book value $16.37, up $0.22; declares $0.31 dividend
TPG RE Finance Trust, Inc.
2021-FY EPS reported
$0.87
- GAAP net income attributable to common stockholders $41.4M ($0.51 per diluted share) in Q4; full year $70.7M ($0.87).
- Book value per common share $16.37 as of Dec 31, 2021, up $0.22 from Q3; CECL reserve reduced to $46.2M (85 bps).
- Originated 10 loans in Q4 ($651.6M commitments) at 3.77% spread, 72.3% LTV; loan repayments $428.1M.
- Total liquidity $321.1M ($260.6M cash); closed TRTX 2022-FL5 ($1.075B CLO) and $250M revolver in Feb 2022.
- Full year 2021: originated $1.9B loans; issued Series C preferred; redeemed Series B preferred; closed $1.25B CLO.