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Tpg Re Finance (TRTX)
NYSE:TRTX
US Market
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Tpg Re Finance (TRTX) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date
Feb 24, 2026
After Close (Confirmed)
Period Ending
2025 (Q4)
Consensus EPS Forecast
0.26
Last Year’s EPS
0.1
Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings

Earnings Call Summary

Q3 2025
Earnings Call Date:Oct 28, 2025|
% Change Since:
|
Earnings Call Sentiment|Positive
The earnings call highlighted TRTX's strong investment activity, stable credit profile, and capital structure optimization, contributing to loan portfolio growth. However, challenges such as the trading discount to book value and uneven real estate market recovery were noted. Overall, the sentiment was leaning towards positive due to significant investment achievements and stable financial health.
Company Guidance
During the TPG Real Estate Finance Trust (TRTX) third-quarter 2025 earnings call, the company provided substantial guidance on its performance and strategic direction. TRTX reported a GAAP net income of $18.4 million, or $0.23 per common share, and distributable earnings of $19.9 million, or $0.25 per share, covering the quarterly dividend of $0.24 per share. The book value per share rose slightly to $11.25, aided by a share repurchase program. The company closed $279 million in new investments during the quarter, with an additional $197 million closed after quarter-end, and plans for over $670 million in loans expected to close in the fourth quarter. Year-to-date, TRTX has closed $1.1 billion in loans, with expectations to close over $1.8 billion in 2025. The investment strategy is focused primarily on multifamily and industrial assets, which make up 91% of closed and in-process investments. The company achieved an average loan-to-value ratio of 65% and a credit spread of 3.22% for third-quarter loans. TRTX's portfolio grew by $1.2 billion or 12% year-over-year, with plans to prudently increase the debt-to-equity ratio to support further growth. Additionally, the company announced the pricing of a $1.1 billion CRE CLO, enhancing its financing capacity. The call also highlighted the transition of leadership roles, with Bob Foley retiring and assuming a senior adviser role, while Brandon Fox and Ryan Roberto step into key leadership positions.
Strong Investment Activity
TRTX closed $279 million of new investments during the third quarter and another $197 million subsequent to quarter end, with over $670 million of loans expected to close in the fourth quarter. Year-to-date closed loans and expected Q4 loans total over $1.8 billion.
Loan Portfolio Growth
The loan portfolio grew by $1.2 billion or 12% year-over-year, with a focus on multifamily and industrial assets representing approximately 91% of the $1.1 billion of closed and in-process investments.
Stable Credit Profile and Liquidity
TRTX maintained a stable credit profile with a 100% performing loan portfolio and no negative credit migration. The company ended the quarter with near-term liquidity of $216.4 million.
Capital Structure Optimization
The company announced the pricing of TRTX 2025 FL7, a $1.1 billion managed CRE CLO, providing non-mark-to-market, nonrecourse term financing with a 30-month reinvestment period.

Tpg Re Finance (TRTX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

TRTX Earnings History

Report Date
Fiscal Quarter
Forecast / EPS
Last Year's EPS
EPS YoY Change
Press Release
Slides
Play Transcript
Feb 24, 2026
2025 (Q4)
0.26 / -
0.1
Oct 28, 2025
2025 (Q3)
0.26 / 0.25
0.28-10.71% (-0.03)
Jul 30, 2025
2025 (Q2)
0.22 / 0.24
0.28-14.29% (-0.04)
Apr 29, 2025
2025 (Q1)
0.25 / 0.24
0.3-20.00% (-0.06)
Feb 18, 2025
2024 (Q4)
0.27 / 0.10
-2.05104.88% (+2.15)
Oct 29, 2024
2024 (Q3)
0.28 / 0.28
-1.33121.05% (+1.61)
Jul 30, 2024
2024 (Q2)
0.24 / 0.28
-0.18255.56% (+0.46)
Apr 30, 2024
2024 (Q1)
0.20 / 0.30
0.1776.47% (+0.13)
Feb 20, 2024
2023 (Q4)
-0.09 / -2.05
0.3-783.33% (-2.35)
Oct 31, 2023
2023 (Q3)
-0.29 / -1.33
0.19-800.00% (-1.52)
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed

TRTX Earnings-Related Price Changes

Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Oct 28, 2025
$8.92
Jul 30, 2025
$8.51$8.46-0.59%
Apr 29, 2025
$7.10$7.21+1.55%
Feb 18, 2025
$7.98$7.57-5.14%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Tpg Re Finance (TRTX) report earnings?
Tpg Re Finance (TRTX) is schdueled to report earning on Feb 24, 2026, After Close (Confirmed).
    What is Tpg Re Finance (TRTX) earnings time?
    Tpg Re Finance (TRTX) earnings time is at Feb 24, 2026, After Close (Confirmed).
      Where can I see when companies are reporting earnings?
      You can see which companies are reporting today on our designated earnings calendar.
        What companies are reporting earnings today?
        You can see a list of the companies which are reporting today on TipRanks earnings calendar.
          What is TRTX EPS forecast?
          TRTX EPS forecast for the fiscal quarter 2025 (Q4) is 0.26.
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