Welcome to our dedicated page for Tpg Re Finance T news (Ticker: TRTX), a resource for investors and traders seeking the latest updates and insights on Tpg Re Finance T stock.
TPG RE Finance Trust, Inc. reports recurring developments as a commercial real estate finance company focused on originating, acquiring and managing primarily first mortgage loans secured by institutional properties in primary and select secondary U.S. markets. The company is externally managed by TPG RE Finance Trust Management, L.P., part of TPG Real Estate.
TRTX news commonly covers quarterly and annual operating results, loan originations and repayments, portfolio performance, collateral mix, liquidity, borrowings and dividend actions. Updates also include common stock dividends, 6.25% Series C Cumulative Redeemable Preferred Stock dividends, dividend tax treatment, earnings release schedules and conference call materials tied to its commercial mortgage portfolio.
TPG RE Finance Trust (NYSE: TRTX) reported strong Q4 and full-year 2021 results. The company achieved a net income of $41.4 million in Q4, equating to $0.51 per diluted share, while total liquidity stood at $321.1 million. Full-year net income reached $70.7 million, or $0.87 per diluted share. A cash dividend of $0.31 per share was declared. The company originated $651.6 million in new loans and improved its loan portfolio's risk rating. Noteworthy was the sale of a land parcel for $54.4 million, enhancing book value by $0.20 per share.
TPG RE Finance Trust, Inc. (NYSE: TRTX) successfully closed the TRTX 2022-FL5, a $1.075 billion CRE CLO. This move enabled the placement of $907 million in investment-grade bonds, providing non-mark-to-market, non-recourse term financing. The new issuance features an advance rate of 84.4% and a weighted average interest rate of Compounded SOFR plus 2.02%. TRTX will redeem the TRTX 2018-FL2, resulting in net cash proceeds of $110.1 million, which will be utilized for investments and corporate purposes.
TPG RE Finance Trust (NYSE: TRTX) will release its fourth-quarter and 2021 fiscal year financial results on February 22, 2022, post-market. The Form 10-K and earnings supplemental will accompany the release. A conference call for discussion of these results is scheduled for 10:00 a.m. ET on February 23, 2022. The public can access the call via phone or webcast. A replay will be available from 1:00 p.m. ET on the same day until March 9, 2022.
TPG RE Finance Trust (TRTX) has successfully priced its latest Commercial Real Estate CLO (TRTX 2022-FL5) at $1.075 billion. This issuance includes $907.0 million of investment-grade bonds, providing non-recourse financing for the company. The CLO has a two-year reinvestment period and a weighted average interest rate of Compounded SOFR plus 2.02%. TRTX plans to redeem its previous CLO (2018-FL2), which has $600.0 million of bonds outstanding. Since January 2018, TRTX has issued a total of $5.5 billion in CLOs.
TPG RE Finance Trust (NYSE: TRTX) announced the income tax treatment of its 2021 common stock and 6.25% Series C Preferred Stock dividends. For common stockholders, the total distribution per share was $0.9500, with ordinary income of $0.9500 per share. For the Series C Preferred Stock, the total distribution was $0.8507, also consisting entirely of ordinary income. Notably, ordinary income dividends qualify for a 20% deduction under IRC Section 199A. Shareholders should consult their tax advisors for specific treatment of these dividends.
TPG RE Finance Trust (NYSE: TRTX) has appointed Doug Bouquard as its new Chief Executive Officer and elected him to the Board, effective April 25, 2022. Bouquard, who brings nearly two decades of experience in real estate credit from Goldman Sachs, will also serve as a Partner at TPG (NASDAQ: TPG). His appointment follows a successful year for TRTX, highlighted by $1.9 billion in loan originations and significant capital market transactions, including a $1.25 billion managed CRE CLO.
TPG RE Finance Trust, Inc. (NYSE: TRTX) reported robust loan originations of $1.9 billion for 2021, highlighting a strategic focus on multifamily and office sectors. The fourth quarter saw $651.6 million in loan commitments. The company's balance sheet and borrower relationships position it for continued growth. In 2021, TRTX saw 13 loan repayments totaling $1.2 billion. Additionally, it successfully sold two hotel loans and a land parcel near the Las Vegas Strip, garnering $66.6 million in net cash proceeds for further investments.
TPG RE Finance Trust, Inc. (NYSE: TRTX) announced the declaration of a cash dividend of $0.24 per share for Q4 2021, alongside a special non-recurring cash dividend of $0.07 per share. These dividends stem from the Company's estimated 2021 REIT taxable income. Both dividends are payable on January 25, 2022, to stockholders of record as of December 29, 2021.
TPG RE Finance Trust (NYSE: TRTX) announced a cash dividend of $0.3906 per share for its 6.25% Series C Cumulative Redeemable Preferred Stock, payable on December 30, 2021. This dividend will benefit shareholders of record as of December 20, 2021. As a commercial real estate finance company, TRTX focuses on originating and managing first mortgage loans secured by institutional properties across the United States.
TPG RE Finance Trust (TRTX) announced its Q3 2021 results, reporting a GAAP net income of $26.0 million or $0.32 per diluted share. The company declared a dividend of $0.24 per share, a 20% increase from Q2 2021. During the quarter, TRTX closed seven loans with commitments of $482.9 million and achieved a net interest margin of $39.0 million. The company ended the quarter with $323.6 million in total liquidity and a consistent risk rating of 3.1 in its loan portfolio.