The earnings call presented a strong performance in terms of loan growth, investment activity, and maintaining a stable loan portfolio. Despite market disruptions and trading at a discount to book value, the company showcased effective use of capital and robust financial management.

Company Guidance -

Q3 2025

During the second quarter of 2025, TPG Real Estate Finance Trust reported a robust performance, with a 15% net earning loan growth and a stable debt-to-equity ratio of 2.6x. The company closed seven new loans totaling $696 million, with a weighted average loan-to-value ratio of 68%, leveraging a $236 million liquidity pool. TRTX's investment activity was concentrated in the multifamily and industrial sectors, contributing to a 100% performing loan portfolio. The company achieved a GAAP net income of $16.9 million or $0.21 per common share, with distributable earnings covering the $0.24 per share dividend. During the quarter, TRTX repurchased 1.7 million common shares, generating $0.08 per share of net book value accretion, and reduced its REO exposure to approximately 5% of total assets. The company continues to trade at a 25% discount to book value with an 11.5% dividend yield, supported by a 95% non-mark-to-market liability structure.

15% Net Earning Loan Growth

The company achieved a 15% net earning loan growth during the second quarter, driven by the deployment of excess liquidity, untapped financing capacity, and recycling of equity.

Strong Investment Activity

TPG RE Finance Trust closed 7 new loans totaling $696 million with a weighted average loan-to-value ratio of 68%, showcasing strong investment activity despite market disruptions.

GAAP Gain from REO Sales

Sale of 2 REO office properties generated a $7 million GAAP gain, reducing REO exposure to approximately 5% of total assets.

Book Value Accretion

Repurchased common stock which generated $0.08 per share of net book value accretion, contributing to shareholder value.

Stable and Performing Loan Portfolio

Maintained a 100% performing loan portfolio with a stable weighted average risk rating of 3.0 and no credit migration.

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

Daily Earnings Calendar >

TRTX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	0.26 / -	0.28	―	―	―
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	-2.05	104.88% (+2.15)	―
Oct 29, 2024	2024 (Q3)	0.28 / 0.28	-1.33	121.05% (+1.61)	―
Jul 30, 2024	2024 (Q2)	0.24 / 0.28	-0.18	255.56% (+0.46)	―
Apr 30, 2024	2024 (Q1)	0.20 / 0.30	0.17	76.47% (+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)	―
Aug 01, 2023	2023 (Q2)	0.12 / -0.18	0.27	-166.67% (-0.45)	―

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
Jul 30, 2025	$8.75	$8.70	-0.57%
Apr 29, 2025	$7.30	$7.41	+1.51%
Feb 18, 2025	$8.21	$7.78	-5.24%
Oct 29, 2024	$7.68	$7.62	-0.78%

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 Trust (TRTX) report earnings?

Tpg Re Finance Trust (TRTX) is schdueled to report earning on Nov 04, 2025, After Close (Confirmed).

What is Tpg Re Finance Trust (TRTX) earnings time?

Tpg Re Finance Trust (TRTX) earnings time is at Nov 04, 2025, 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 (Q3) is 0.26.

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