TRTX reports Q4 GAAP EPS $0.00, Distributable EPS $0.24; portfolio $4.3B

TPG RE Finance Trust, Inc.

Q4 net income $0.2M ($0.00 diluted); Distributable Earnings $18.5M ($0.24 diluted).
Full year 2025 net income $45.5M ($0.57); Distributable Earnings $76.8M ($0.97).
Originated $927M in new loans in Q4; total loan portfolio $4.3B, 100% performing.
Liquidity $143M; Debt/Equity 3.02x; 82% non-mark-to-market financing.
Book value $11.07; common dividend $0.24/Q declared; annualized yield 11.3%.

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