---
schema_version: "secwatch.filing_event.v1"
accession: "0001630472-23-000025"
form_type: "8-K"
ticker: "TRTX"
cik: "0001630472"
company_name: "TPG RE Finance Trust, Inc."
filed_at: "2023-09-11T23:59:59+00:00"
generated_at: "2026-06-10T21:43:28.001133+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# TRTX Q2 2023 GAAP loss of $0.94 per share; negative distributable earnings

## Summary
- Q2 2023 GAAP net loss attributable to common stockholders of $72.7M, or ($0.94) per diluted share.
- Distributable earnings per diluted share of ($0.18); common dividend declared $0.24 per share (coverage ratio -0.75x).
- CECL reserve rose $55.9M QoQ to $278.3M, driven by office sector deterioration and five individually assessed loans.
- Book value per share fell from $14.31 (3/31/23) to $13.10 (6/30/23) on net loss and dividends.
- Liquidity of $542.9M; debt-to-equity ratio 2.8x; 71.7% of financing is non-mark-to-market.

## SEC filing metadata
- accession: 0001630472-23-000025
- form_type: 8-K
- ticker: TRTX
- cik: 0001630472
- company_name: TPG RE Finance Trust, Inc.
- filed_at: 2023-09-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1630472/000163047223000025/0001630472-23-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1630472/000163047223000025/trtx-20230911.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001630472-23-000025
- JSON: https://secwatch.observer/filing/0001630472-23-000025.json
- Plain text: https://secwatch.observer/filing/0001630472-23-000025.txt

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