TPG RE Finance Trust Posts 12.4% Dividend Yield

TPG RE Finance Trust, Inc. (NYSE: TRTX) recently released its Investor Presentation for June 2024, providing a comprehensive overview of its financial performance and key metrics as of March 31, 2024.

The company's Q1 2024 Common Stock Dividend was $0.24, resulting in an annualized dividend yield of 12.4%. The book value per share stood at $11.81 as of March 31, 2024, showcasing the company's financial strength.

TPG RE Finance Trust reported a $3.5 billion loan investment portfolio with an average loan size of $69.4 million. Notably, the entire loan portfolio consisted of performing loans, demonstrating the robustness of its investments.

The weighted average all-in yield for the total portfolio was 9.25%, while the weighted average credit spread was 3.66%. Moreover, the company maintained a 100% floating-rate portfolio, aligning its interests with prevailing market conditions.

In terms of liquidity and capitalization, TPG RE Finance Trust boasted $4.7 billion in financing capacity and a non-mark-to-market financing composition of 77.1%. The company's debt-to-equity ratio stood at 2.2x, indicating a balanced leverage position.

Furthermore, the leadership team's extensive experience and expertise were highlighted, with key executives such as Matt Coleman, Doug Bouquard, and Bob Foley bringing decades of industry knowledge and leadership to the table.

The company's performance in Q1 2024 was reflected in its net income attributable to common stockholders of $17.4 million, resulting in distributable earnings of $23.3 million, or $0.30 per diluted share.

TPG RE Finance Trust also emphasized its commitment to maintaining a strong credit quality and principal protection, underpinned by deep relationships with industry stakeholders and a data-driven investment philosophy.

From a geographical perspective, the loan portfolio exhibited diversification, with the top 25 MSA concentrations accounting for 62.1% and the top 10 for 32.3%. Additionally, the entire loan portfolio was made up of floating-rate loans, aligning with the company's risk management strategies.

Following these announcements, the company's shares moved -1.9%, and are now trading at a price of $8.45. If you want to know more, read the company's complete 8-K report here.

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