TPG RE Finance Q2 GAAP EPS $0.26, Distributable EPS $0.28; dividend coverage 1.2x

TPG RE Finance Trust, Inc.

2024-Q2 EPS reported $0.43

GAAP net income $21.0M ($0.26/diluted share); Distributable Earnings $22.3M ($0.28/share).
Declared $0.24 common dividend paid July 25; 6.25% Series C preferred dividend $0.3906/share paid June 28.
Loan portfolio $3.3B; 73% reduction in office exposure since Dec 2021; no non-earning loans at quarter end.
CECL allowance $69.6M (208 bps of commitments), down $4.5M from Q1; weighted avg risk rating unchanged at 3.0.
Post-quarter closed $96.0M multifamily loan; received $33.9M full repayment on mixed-use loan.

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