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Jun 30, 2022
TRTX Q2 2022 Earnings Report
Reported operating results with a GAAP net loss attributable to common stockholders.
Key Takeaways
TPG RE Finance Trust reported a GAAP net loss attributable to common stockholders of $(8.8) million, or $(0.11) per common share. The company originated seven first mortgage loans with total loan commitments of $380.3 million and received loan repayments of $757.0 million.
GAAP net loss attributable to common stockholders was $(8.8) million, or $(0.11) per common share.
Book value per common share on June 30, 2022 was $16.03.
Originated seven first mortgage loans with total loan commitments of $380.3 million.
Received loan repayments of $757.0 million.
Forward Guidance
The second quarter was marked by increasing volatility, rising short-term interest rates, and an uncertain economic backdrop. The company believes its investment pace, liquidity, financing base, and the TPG platform position it well to capture investment opportunities and address market challenges.
Positive Outlook
- Measured investment pace
- Over $770 million of liquidity
- Largely non-mark-to-market financing base
- Substantial financing capacity
- Strategic benefits of the TPG platform
Challenges Ahead
- Increasing volatility
- Rising short-term interest rates
- Uncertain economic backdrop
- Risk category “5” office loan to facilitate an orderly disposition of the underlying property by the borrower
Historical Earnings Impact
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Avg. Return Before/After Earnings
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