Tpg Re Finance T Stock Price, News & Analysis

TPG RE Finance Trust (NYSE: TRTX) announced the redemption of all 9,000,000 shares of its 11% Series B Cumulative Redeemable Preferred Stock for approximately $247.5 million. Following this redemption, no dividends will accrue or be declared on these shares, and none remain outstanding. This move is part of the company's broader strategy as a commercial real estate finance firm, focusing on originating and managing mortgage loans secured by institutional properties in key U.S. markets.

TPG RE Finance Trust (NYSE: TRTX) declared a cash dividend of $0.20 per share for Q2 2021, payable on July 23, 2021, to stockholders of record as of June 28, 2021. Additionally, a dividend of $0.69 per share for its Series B Cumulative Redeemable Preferred Stock will be paid on June 16, 2021, to stockholders of record as of June 15, 2021. TRTX focuses on originating and managing first mortgage loans secured by institutional properties in key U.S. markets.

TPG RE Finance Trust (NYSE: TRTX) announced its participation in the 2021 Nareit REITweek Virtual Investor Conference on June 9. The Company will host virtual meetings with investors, and President Matthew Coleman will engage in a fireside chat at 4:00 PM ET, facilitated by Stephen Laws of Raymond James. A live audio webcast of the presentation will be available on the TRTX Investor Relations website, with a replay accessible post-event.

As a commercial real estate finance company, TRTX focuses on first mortgage loans secured by institutional properties across the U.S.

TPG RE Finance Trust, Inc. (TRTX) announced the pricing of a public offering of 7,000,000 shares of its 6.25% Series C Cumulative Redeemable Preferred Stock at $25.00 per share, potentially raising $175 million. Underwriters have a 30-day option for an additional 1,050,000 shares. Proceeds will fund the redemption of all outstanding Series B Preferred Stock. The offering, closing on June 14, 2021, is expected to enhance TRTX's capital structure by replacing older preferred stock.

TPG RE Finance Trust, Inc. (NYSE: TRTX) has announced a public offering of its Series C Cumulative Redeemable Preferred Stock priced at $25.00 per share. The funds raised will be used to partially redeem outstanding Series B Cumulative Redeemable Preferred Stock. TRTX plans to apply for its Series C Preferred Stock to be listed on the NYSE under the symbol 'TRTX PRC.' Raymond James & Associates and TPG Capital BD are the joint book-running managers for this offering, which will be conducted under an existing shelf registration statement with the SEC.

TPG RE Finance Trust (NYSE: TRTX) reported Q1 2021 results with a net income of $24.2 million, or $0.30 per diluted share. The company declared a dividend of $0.20 per share, paid on April 23, 2021. Total liquidity at quarter-end stood at $632.9 million. The net interest margin decreased to $37.9 million, down 6.6% from the previous quarter. TRTX closed a $1.25 billion CRE CLO and is focused on managing its capital structure effectively. The company aims to maintain growth through quality loan origination.

TPG RE Finance Trust, Inc. (NYSE: TRTX) will release its financial results for the first quarter of 2021 and file its Form 10-Q after the market closes on May 4, 2021. The company will host a conference call on May 5, 2021, at 10:00 a.m. ET to discuss these results with investors. Interested parties can access the conference call by dialing provided numbers or through a webcast on the company’s investor relations website. A replay of the call will be available until May 19, 2021.

TPG RE Finance Trust (NYSE: TRTX) announced the closing of TRTX 2021-FL4, a $1.25 billion Commercial Real Estate Collateralized Loan Obligation (CRE CLO). The deal secured $1.04 billion in investment-grade bonds, enabling non-recourse, non-mark-to-market financing. With a two-year reinvestment period, the CLO features a ramp for future loan originations and an interest rate of LIBOR plus 1.60%. TRTX has now issued four CRE CLOs totaling $4.4 billion since January 2018, enhancing its non-recourse debt to approximately 84% of funded debt.

TPG RE Finance Trust, Inc. (NYSE: TRTX) announced the pricing of a $1.25 billion commercial real estate collateralized loan obligation (CRE CLO) on March 25, 2021. The Company successfully placed $1.04 billion in investment-grade bonds, securing term financing on a non-mark-to-market, non-recourse basis. The 2021-FL4 deal features an 83% advance rate and a two-year reinvestment period with a weighted average interest rate of LIBOR plus 1.60%. This transaction is set to close on March 31, 2021, pending customary conditions. Since 2018, TRTX has issued CRE CLOs totaling $4.4 billion, increasing its non-mark-to-market debt to approximately 84%.