other material
confidence high
sentiment neutral
materiality 0.50
TRTX provides Q1 2024 investor update; GAAP EPS $0.17, distributable EPS $0.30, book value $11.81
TPG RE Finance Trust, Inc.
- Q1 2024 GAAP net income $13.1M ($0.17/diluted share); Distributable earnings $23.3M ($0.30/diluted share).
- Loan portfolio $3.5B, 100% performing, weighted avg risk rating 3.0; no non-performing loans.
- Office loan commitments reduced 68% since 12/31/21 to $722.9M; multifamily exposure up 10%.
- CECL reserve $74.1M, up $4.4M QoQ; no specifically identified loans at quarter-end.
- Available liquidity $370.7M; Debt-to-Equity 2.2x; 77.1% non-mark-to-market financing.