TPG RE Finance Trust, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 03, 2023 at 01:42 am IST
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TPG RE Finance Trust, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported net income was USD 7.38 million compared to USD 23.78 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.26 a year ago.
Diluted earnings per share from continuing operations was USD 0.05 compared to USD 0.25 a year ago.
TPG RE Finance Trust, Inc. is a commercial real estate finance company that originates, acquires, and manages primarily first mortgage loans secured by institutional properties located in primary and select secondary markets in the United States. It is externally managed by TPG RE Finance Trust Management, L.P., a part of TPG Real Estate. The Company conduct its operations primarily through its wholly owned subsidiary, TPG RE Finance Trust Holdco, LLC. Its principal business activity is to directly originate and acquire a diversified portfolio of commercial real estate related assets, consisting primarily of first mortgage loans and senior participation interests in first mortgage loans secured by institutional-quality properties in primary and select secondary markets in the United States. It invests primarily in commercial mortgage loans and other commercial real estate-related debt instruments. The Company's portfolio consists approximately 53 loans, which are held for investment.