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Mar 31, 2021
TRTX Q1 2021 Earnings Report
Reported operating results for the quarter ended March 31, 2021.
Key Takeaways
TPG RE Finance Trust reported a GAAP net income attributable to common stockholders of $24.2 million, with a net income per diluted common share of $0.30. The company closed one new loan commitment totaling $45.4 million and closed TRTX 2021-FL4, a $1.25 billion managed CRE CLO.
GAAP net income attributable to common stockholders was $24.2 million, or $0.30 per diluted share.
Net interest margin was $37.9 million.
Closed one new loan commitment totaling $45.4 million.
Closed TRTX 2021-FL4, a $1.25 billion managed CRE CLO.
Forward Guidance
TRTX remains focused on originating high quality, first mortgage loans with best-in-class sponsors in strong growth markets and continues to optimize their capital structure by reducing their cost of funds and increasing their non-mark-to-market liabilities.
Positive Outlook
- Focus on originating high quality, first mortgage loans
- Targeting best-in-class sponsors
- Concentration in strong growth markets
- Optimizing capital structure
- Reducing cost of funds
Challenges Ahead
- Exposure to risks and uncertainties
- Potential negative impacts of pandemics on the global economy
- Risks related to originating loans in the pipeline
- Uncertainty of predicting future events or conditions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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