---
schema_version: "secwatch.filing_event.v1"
accession: "0001630472-23-000013"
form_type: "8-K"
ticker: "TRTX"
cik: "0001630472"
company_name: "TPG RE Finance Trust, Inc."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:37:34.843669+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# TRTX Q1 EPS $0.05, non-accrual loans jump to $550M, dividend coverage 0.71x

## Summary
- GAAP net income attributable to common $3.8M, diluted EPS $0.05; book value $14.31/sh.
- Six non-accrual loans with $550.1M amortized cost (vs two with $190.4M at Dec 2022).
- Credit loss allowance rose $7.8M to $222.4M; 420 bps of loan commitments.
- Originations $123.8M, repayments $227.8M; portfolio $5.3B commitments.
- Distributable earnings per diluted share $0.17, common dividend coverage 0.71x.

## SEC filing metadata
- accession: 0001630472-23-000013
- form_type: 8-K
- ticker: TRTX
- cik: 0001630472
- company_name: TPG RE Finance Trust, Inc.
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1630472/000163047223000013/0001630472-23-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1630472/000163047223000013/trtx-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001630472-23-000013
- JSON: https://secwatch.observer/filing/0001630472-23-000013.json
- Plain text: https://secwatch.observer/filing/0001630472-23-000013.txt

## Key facts
- Earnings Releases
  TPG RE Finance Trust, Inc. reported quarter ended March 31, 2023 results: net income $3.8 million, EPS $0.05 per common share.
  - Period: quarter ended March 31, 2023
  - Net income: $3.8 million
  - EPS: $0.05 per common share
  - Result: reported results
  source text: Recognized GAAP net income attributable to common stockholders of $3.8 million, or $0.05 per common share, based on a diluted weighted average share count of 78.1 million common shares.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1630472/000163047223000013/0001630472-23-000013-index.htm

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