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 (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.
TPG RE Finance Trust, Inc. (NYSE: TRTX) has announced its third-quarter 2021 financial results will be released after market close on November 2, 2021. The company will also file its Form 10-Q and earnings supplemental at this time. Following the release, a conference call will take place on November 3, 2021, at 10:00 a.m. ET, to discuss the financial results with investors. For those unable to attend, a replay will be available from 1:00 p.m. ET on November 3 through November 17.
TPG RE Finance Trust, Inc. (NYSE: TRTX) announced its participation in the Bank of America Merrill Lynch 2021 Global Real Estate Virtual Conference on September 21, 2021. Senior management will engage with investors during virtual meetings. Interested parties can access the presentation on TRTX’s Investor Relations website at http://investors.tpgrefinance.com/event. TPG RE Finance Trust focuses on originating, acquiring, and managing first mortgage loans secured by institutional properties across the U.S.
TPG RE Finance Trust, Inc. (NYSE: TRTX) declared a cash dividend of $0.24 per share for Q3 2021, payable on October 22, 2021, to stockholders on record as of September 29, 2021. Additionally, a dividend of $0.4601 per share for its Series C Preferred Stock will be paid on September 30, 2021, for stockholders on record as of September 20, 2021. The company focuses on originating and managing first mortgage loans for institutional properties in the U.S.