$TRTX-PC
TPG RE Finance Trust, Inc.
CIK:0001630472|SEC Filings
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Interest income and interest expense | ||||
| Interest income | $ 74,053 | $ 70,668 | $ 148,232 | $ 138,713 |
| Interest expense | (50,387) | (45,524) | (98,849) | (88,667) |
| Net interest income | 23,666 | 25,144 | 49,383 | 50,046 |
| Other revenue | ||||
| Other income, net | 1,261 | 2,824 | 4,564 | 4,675 |
| Revenue from real estate owned operations | 9,081 | 8,231 | 17,369 | 18,510 |
| Total other revenue | 10,342 | 11,055 | 21,933 | 23,185 |
| Other expenses | ||||
| Professional fees | 1,321 | 1,604 | 2,789 | 2,392 |
| General and administrative | 953 | 989 | 1,863 | 2,090 |
| Stock compensation expense | 2,080 | 1,997 | 4,136 | 4,016 |
| Servicing and asset management fees | 250 | 592 | 775 | 1,014 |
| Management fee | 5,342 | 5,194 | 10,657 | 10,347 |
| Expenses from real estate owned operations | 7,266 | 10,256 | 15,535 | 20,606 |
| Total other expenses | 17,212 | 20,632 | 35,755 | 40,465 |
| Gain on sale of real estate owned, net | 0 | 6,970 | 0 | 6,970 |
| Credit loss expense, net | (3,563) | (1,778) | (3,277) | (5,202) |
| Income before income taxes | 13,233 | 20,759 | 32,284 | 34,534 |
| Income tax expense, net | (101) | (128) | (213) | (184) |
| Net income | 13,132 | 20,631 | 32,071 | 34,350 |
| Preferred stock dividends and participating securities' share in earnings | (3,778) | (3,750) | (7,551) | (7,509) |
| Net income attributable to common stockholders | $ 9,354 | $ 16,881 | $ 24,520 | $ 26,841 |
| Earnings per common share, basic (in USD per share) | $ 0.12 | $ 0.21 | $ 0.32 | $ 0.33 |
| Earnings per common share, diluted (in USD per share) | $ 0.12 | $ 0.21 | $ 0.31 | $ 0.33 |
| Weighted average number of common shares outstanding | ||||
| Basic (in shares) | 77,043,597 | 79,474,862 | 77,644,716 | 80,221,098 |
| Diluted (in shares) | 78,025,668 | 80,208,877 | 78,535,839 | 80,918,798 |
| Other comprehensive income | ||||
| Net income | $ 13,132 | $ 20,631 | $ 32,071 | $ 34,350 |
| Comprehensive net income | $ 13,132 | $ 20,631 | $ 32,071 | $ 34,350 |
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
||||
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash and cash equivalents | [1] | $ 65,577 | $ 87,613 | |||
| Restricted cash | [1] | 633 | 654 | |||
| Collateralized loan obligation proceeds held at trustee | [1] | 5,207 | 3,976 | |||
| Accounts receivable from servicer/trustee | [1] | 464 | 717 | |||
| Accrued interest and fees receivable | [1] | 28,640 | 28,430 | |||
| Loans held for investment | [1] | 4,321,538 | 4,103,022 | |||
| Allowance for credit losses | [1] | (77,750) | (74,503) | |||
| Loans held for investment, net | [1] | 4,243,788 | 4,028,519 | |||
| Real estate owned, net | [1] | 224,779 | 224,386 | |||
| Other assets | [1] | 27,844 | 31,935 | |||
| Total assets | [1] | 4,596,932 | 4,406,230 | |||
| Liabilities | ||||||
| Accrued interest payable | [1] | 5,244 | 6,751 | |||
| Accrued expenses and other liabilities | [1],[2] | 16,449 | 15,884 | |||
| Payable to affiliates | [1] | 5,342 | 5,274 | |||
| Deferred revenue | [1] | 1,363 | 1,940 | |||
| Dividends payable | [1] | 18,920 | 19,350 | |||
| Total liabilities | [1] | 3,552,438 | 3,338,207 | |||
| Commitments and contingencies - see Note 15 | [1] | |||||
| Stockholders' equity | ||||||
| Common stock ($0.001 par value per share; 302,500,000 and 302,500,000 shares authorized, respectively; 76,985,190 and 78,318,722 shares issued and outstanding, respectively) | [1] | 77 | 78 | |||
| Additional paid-in-capital | [1] | 1,744,686 | 1,740,585 | |||
| Accumulated deficit | [1] | (700,277) | (672,648) | |||
| Total stockholders' equity | [1] | 1,044,494 | 1,068,023 | |||
| Total liabilities and stockholders' equity | [1] | 4,596,932 | 4,406,230 | |||
| Series A Preferred Stock | ||||||
| Stockholders' equity | ||||||
| Preferred stock | [1] | 0 | 0 | |||
| Series C Preferred Stock | ||||||
| Stockholders' equity | ||||||
| Preferred stock | [1] | 8 | 8 | |||
| Collateralized loan obligations | Investment Portfolio Financing Arrangements | ||||||
| Liabilities | ||||||
| Long-term debt | [1] | 1,905,790 | 2,579,920 | |||
| Asset-specific financing arrangements | Investment Portfolio Financing Arrangements | ||||||
| Liabilities | ||||||
| Long-term debt | [1] | 59,781 | 59,780 | |||
| Mortgage loan payable | Investment Portfolio Financing Arrangements | ||||||
| Liabilities | ||||||
| Long-term debt | [1] | 30,910 | 30,838 | |||
| Secured Debt | Secured financing agreements, net | ||||||
| Liabilities | ||||||
| Long-term debt | [1] | 1,115,666 | 618,470 | |||
| Secured Debt | Term Loan B | ||||||
| Liabilities | ||||||
| Long-term debt | [1] | $ 392,973 | $ 0 | |||
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