earnings
confidence high
sentiment negative
materiality 0.70
TRTX Q2 2022 GAAP net loss $8.8M; credit loss allowance jumps to $93.4M
TPG RE Finance Trust, Inc.
2022-Q2 EPS reported
$0.14
- GAAP net loss attributable to common stockholders of $(8.8)M, or $(0.11) per share; book value per share $16.03.
- Allowance for credit losses increased to $93.4M (180 bps) from $51.1M (91 bps) sequentially.
- Originated $380.3M in loan commitments; received $757.0M in loan repayments during quarter.
- Total liquidity $771.7M; non-mark-to-market debt 73.7% of borrowings.
- Subsequent: closed/closing seven loans $557.1M; expected $4.4M loss on retail loan sale (fully reserved).