secwatch.observer — SEC 8-K summary
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Issuer:     TPG RE Finance Trust, Inc. (TRTX)
CIK:        0001630472
Form:       8-K
Filed at:   2026-04-28T23:59:59+00:00
Accession:  0001630472-26-000018
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TRTX Q1 GAAP EPS $0.19, Distributable EPS $0.25; out-earned dividend
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- GAAP net income $15.2M ($0.19/diluted share); Distributable Earnings $19.5M ($0.25/diluted share), above $0.24 common dividend.
- Book value per share $11.06, essentially flat vs $11.07 at Dec 31, 2025; declared $0.24/share common dividend paid Apr 24.
- Originated $148.4M in two floating-rate loans at SOFR+2.73%, 63% LTV; portfolio 100% performing with office exposure below 5%.
- Liquidity $172.8M; Q1 repurchased 556,592 shares at avg $8.06 ($4.5M); subsequent $4.0M buyback through Apr 24.
- Post-quarter closed $175.4M loan and received $262.3M in office loan repayments; CECL reserve stable at $77.1M (179 bps).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1630472/000163047226000018/0001630472-26-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1630472/000163047226000018/trtx-20260428.htm
  HTML page:      https://secwatch.observer/filing/0001630472-26-000018

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