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TPG RE Finance Trust, Inc. - TRTX STOCK NEWS

Welcome to our dedicated page for TPG RE Finance Trust news (Ticker: TRTX), a resource for investors and traders seeking the latest updates and insights on TPG RE Finance Trust stock.

TPG RE Finance Trust, Inc. (TRTX) is a prominent commercial real estate finance company headquartered in New York, New York. Established in 2014, the company specializes in the origination, acquisition, and management of commercial mortgage loans and other real estate-related debt instruments across North America.

TPG RE Finance Trust operates within various property sectors including office, mixed-use, multifamily, industrial, retail, and hospitality. The company's diverse investment portfolio includes

  • commercial mortgage loans
  • subordinate mortgage interests
  • mezzanine loans
  • secured real estate securities
  • note financing
  • preferred equity
  • commercial real estate collateralized loan obligations
  • commercial mortgage-backed securities
These investments are secured by institutional-quality properties primarily in primary and select secondary markets in the United States.

As a Real Estate Investment Trust (REIT), TPG RE Finance Trust aims to provide attractive risk-adjusted returns to its stockholders. The company achieves this through a strategic blend of cash distributions and capital appreciation. To maintain its REIT status, TRTX distributes at least 90% of its taxable income to stockholders, thereby generally avoiding federal corporate income taxes.

The company's strategic focus lies in directly originating and selectively acquiring floating rate first mortgage loans that are secured by high-quality commercial real estate properties undergoing transition and value creation. This approach allows TPG RE Finance Trust to capitalize on opportunities within evolving real estate markets, contributing to its sustained growth and stability.

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TPG RE Finance Trust (TRTX) reported strong Q3 2024 results with GAAP net income of $18.7 million ($0.23 per share) and Distributable Earnings of $23.0 million ($0.28 per share). The company originated three first mortgage loans totaling $204.0 million commitments with a weighted average interest rate of Term SOFR plus 3.17%. Book value per share was $11.41. The company maintained stable credit quality with an unchanged weighted average risk rating of 3.0 and reduced allowance for credit losses to $69.3 million. TRTX ended the quarter with $357.0 million in near-term liquidity and increased non-mark-to-market financings to 79.7% of total borrowings.

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TPG RE Finance Trust, Inc. (NYSE: TRTX) has announced the dates for its third quarter 2024 earnings release and conference call. The company will release its financial results and file its Form 10-Q and earnings supplemental after the market close on Tuesday, October 29, 2024. A conference call and webcast to review the financial results will be held at 9:00 a.m. ET on Wednesday, October 30, 2024.

Participants can join the call by dialing +1 (877) 407-9716 from the US and Canada, or +1 (201) 493-6779 internationally. The webcast will be accessible on the company's investor relations website. A replay of the call will be available from 12:00 p.m. ET on October 30, 2024, through 11:59 p.m. ET on November 13, 2024, using the passcode 13745416.

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TPG RE Finance Trust, Inc. (NYSE: TRTX) has announced a cash dividend of $0.24 per share for the third quarter of 2024. This dividend will be paid on October 25, 2024 to shareholders of record as of September 27, 2024. The declaration of this dividend by the Company's Board of Directors demonstrates TRTX's commitment to returning value to its shareholders and may indicate confidence in the company's financial stability and future prospects.

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TPG RE Finance Trust (NYSE: TRTX) has announced a cash dividend of $0.3906 per share on its 6.25% Series C Cumulative Redeemable Preferred Stock for the third quarter of 2024. The dividend will be payable on September 30, 2024 to preferred stockholders of record as of September 20, 2024. This declaration by TRTX's Board of Directors demonstrates the company's commitment to providing regular returns to its preferred stockholders.

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TPG RE Finance Trust, Inc. (NYSE: TRTX) reported its Q2 2024 operating results. The company generated Distributable Earnings of $0.28 per share, representing a dividend coverage ratio of 1.2x. TRTX maintained $389 million in liquidity and a conservative debt-to-equity ratio of 2:1. Key highlights include:

- GAAP net income of $21.0 million, or $0.26 per common share
- Book value per common share of $11.40
- Declared cash dividend of $0.24 per share
- Received loan repayments of $186.1 million
- Weighted average risk rating of the loan portfolio remained at 3.0
- Allowance for credit losses decreased to $69.6 million
- Non-mark-to-market borrowings represented 78.7% of total borrowings

TRTX also closed a new $96.0 million first mortgage loan and received a full loan repayment of $33.9 million post-quarter.

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TPG RE Finance Trust, Inc. (NYSE: TRTX) has announced its schedule for releasing second quarter 2024 financial results and hosting a conference call. The company will release its Q2 2024 earnings report and file Form 10-Q after market close on Tuesday, July 30, 2024. A conference call and webcast to discuss the results is scheduled for Wednesday, July 31, 2024, at 9:00 a.m. ET. Investors can join the call using specific dial-in numbers or access the webcast via the company's investor relations website. A replay of the call will be available until August 14, 2024, with both phone and online access options provided.

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TPG RE Finance Trust (NYSE: TRTX) announced a cash dividend of $0.24 per common share for Q2 2024.

The dividend is set for July 25, 2024, payable to shareholders of record as of June 27, 2024.

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TPG RE Finance Trust (TRTX) has declared a cash dividend of $0.3906 per share for its 6.25% Series C Cumulative Redeemable Preferred Stock. This dividend pertains to the second quarter of 2024.

The dividend will be paid on June 28, 2024, to shareholders who own the preferred stock as of June 18, 2024. This announcement follows the approval from the company's Board of Directors.

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TPG RE Finance Trust (TRTX) announced that CFO Bob Foley will host investor meetings and deliver a moderated corporate presentation at Nareit's REITweek: 2024 Investor Conference on June 5, 2024. The presentation will be accessible on TRTX's Investor Relations webpage. This event is significant for TRTX as it provides a platform to communicate its financial health, strategies, and future outlook to investors.

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TPG RE Finance Trust, Inc. reported a successful first quarter with $371 million of available liquidity and a 100% performing loan portfolio. The company recognized GAAP net income of $13.1 million, declared a cash dividend of $0.24 per share, and originated three first mortgage loans totaling $116.3 million. They ended the quarter with $370.7 million of near-term liquidity and received a full loan repayment of $44.5 million. The Board approved a $25 million share repurchase plan. For more details, visit Company's website.

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FAQ

What is the current stock price of TPG RE Finance Trust (TRTX)?

The current stock price of TPG RE Finance Trust (TRTX) is $8.9 as of November 7, 2024.

What is the market cap of TPG RE Finance Trust (TRTX)?

The market cap of TPG RE Finance Trust (TRTX) is approximately 721.1M.

What is TPG RE Finance Trust, Inc.?

TPG RE Finance Trust, Inc. is a commercial real estate finance company that originates, acquires, and manages commercial mortgage loans and related debt instruments in North America.

What types of properties does TRTX invest in?

TRTX invests in properties across various sectors including office, mixed-use, multifamily, industrial, retail, and hospitality.

What is the primary objective of TPG RE Finance Trust, Inc.?

The primary objective of TPG RE Finance Trust, Inc. is to provide attractive risk-adjusted returns to its stockholders through cash distributions and capital appreciation.

How does TRTX maintain its REIT status?

TRTX maintains its REIT status by distributing at least 90% of its taxable income to stockholders, which generally exempts the company from federal corporate income taxes.

When was TPG RE Finance Trust, Inc. founded?

TPG RE Finance Trust, Inc. was founded in 2014.

Where is TPG RE Finance Trust, Inc. headquartered?

TPG RE Finance Trust, Inc. is headquartered in New York, New York.

What type of loans does TRTX primarily focus on?

TRTX primarily focuses on directly originating and selectively acquiring floating rate first mortgage loans.

Why are the properties in TRTX's portfolio considered high quality?

The properties in TRTX's portfolio are considered high quality because they are institutional-quality properties located in primary and select secondary markets in the United States.

What financial instruments does TRTX invest in?

TRTX invests in commercial mortgage loans, subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and commercial mortgage-backed securities.

How does TRTX ensure attractive returns for its stockholders?

TRTX ensures attractive returns for its stockholders by strategically managing a diverse portfolio of high-quality commercial real estate debt instruments and focusing on properties undergoing value creation.

TPG RE Finance Trust, Inc.

NYSE:TRTX

TRTX Rankings

TRTX Stock Data

721.07M
80.93M
11.68%
73.02%
2%
REIT - Mortgage
Real Estate Investment Trusts
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United States of America
SAN FRANCISCO