secwatch.observer — SEC 8-K summary
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Issuer:     TPG RE Finance Trust, Inc. (TRTX)
CIK:        0001630472
Form:       8-K
Filed at:   2023-09-11T23:59:59+00:00
Accession:  0001630472-23-000025
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1630472/000163047223000025/0001630472-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1630472/000163047223000025/trtx-20230911.htm
  HTML page:      https://secwatch.observer/filing/0001630472-23-000025

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