---
schema_version: "secwatch.filing_event.v1"
accession: "0001630472-23-000030"
form_type: "8-K"
ticker: "TRTX"
cik: "0001630472"
company_name: "TPG RE Finance Trust, Inc."
filed_at: "2023-10-31T23:59:59+00:00"
generated_at: "2026-06-09T04:45:21.366763+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001630472-23-000030
- form_type: 8-K
- ticker: TRTX
- cik: 0001630472
- company_name: TPG RE Finance Trust, Inc.
- filed_at: 2023-10-31T23:59:59+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/1630472/000163047223000030/0001630472-23-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1630472/000163047223000030/trtx-20231031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001630472-23-000030
- JSON: https://secwatch.observer/filing/0001630472-23-000030.json
- Plain text: https://secwatch.observer/filing/0001630472-23-000030.txt

## Key facts
- Earnings Releases
  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
  source text: TPG RE Finance Trust, Inc. Reports Operating Results for the Quarter Ended September 30, 2023 October 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1630472/000163047223000030/0001630472-23-000030-index.htm

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