TRTX Q3 GAAP loss $0.83/share; book value drops to $12.04; loan sales losses $109.4M

TPG RE Finance Trust, Inc.

2023-Q3 EPS reported -$1.72

GAAP net loss attributable to common stockholders of $64.6M ($0.83 diluted EPS) vs. prior quarter loss.
Book value per share fell from $13.10 to $12.04 QoQ; CECL reserve $236.6M (560 bps of commitments).
Sold two loans with combined loss of $109.4M; total loan sales UPB of $174M during Q3.
Declared $0.24/share common dividend; distributable earnings loss of $1.33/share (negative coverage).
Weighted avg risk rating stable at 3.2; non-accrual loans $318.1M (down from $546.7M prior quarter).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TPG RE Finance Trust, Inc. reported third quarter ended September 30, 2023 results: net income ($64.6) million, or ($0.83) per common share, EPS ($0.83) per common share.

Period: third quarter ended September 30, 2023
Net income: ($64.6) million, or ($0.83) per common share
EPS: ($0.83) per common share
Result: reported results

Exact text from the filing

TPG RE Finance Trust, Inc. Reports Operating Results for the Quarter Ended September 30, 2023 October 31, 2023

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Source: SEC EDGAR

accession 0001630472-23-000030

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