$TRTX
TPG RE Finance Trust, Inc.

2022 Q1 Form 10-Q Financial Statement

#000095017022007067 Filed on May 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $61.04M $58.24M
YoY Change 4.8% -29.04%
Cost Of Revenue $7.349M $6.620M
YoY Change 11.01% -6.76%
Gross Profit $53.69M $51.62M
YoY Change 4.0% -31.15%
Gross Profit Margin 87.96% 88.63%
Selling, General & Admin $2.435M $2.490M
YoY Change -2.21% 4.62%
% of Gross Profit 4.54% 4.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.435M $2.490M
YoY Change -2.21% 5.06%
Operating Profit $51.25M $49.13M
YoY Change 4.32% -32.34%
Interest Expense $22.50M $20.29M
YoY Change 10.9% -47.24%
% of Operating Profit 43.9% 41.3%
Other Income/Expense, Net $9.784M $9.106M
YoY Change 7.45%
Pretax Income $23.87M $32.89M
YoY Change -27.43% -114.13%
Income Tax $85.00K $931.0K
% Of Pretax Income 0.36% 2.83%
Net Earnings $23.78M $31.96M
YoY Change -25.58% -113.73%
Net Earnings / Revenue 38.96% 54.87%
Basic Earnings Per Share $0.26 $0.32
Diluted Earnings Per Share $0.25 $0.30
COMMON SHARES
Basic Shares Outstanding 77.18M 76.90M
Diluted Shares Outstanding 81.79M 80.67M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $351.6M $301.6M
YoY Change 16.57% 191.12%
Cash & Equivalents $351.6M $301.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $872.0K $900.0K
Other Receivables $29.56M $29.30M
Total Short-Term Assets $382.0M $331.8M
YoY Change 15.13% 98.33%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $847.0K $800.0K
YoY Change 5.88% -11.11%
Total Long-Term Assets $5.133B $4.938B
YoY Change 3.96% -12.75%
TOTAL ASSETS
Total Short-Term Assets $382.0M $331.8M
Total Long-Term Assets $5.133B $4.938B
Total Assets $5.515B $5.269B
YoY Change 4.66% -9.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.153M $5.100M
YoY Change 20.65% -36.25%
Accrued Expenses $16.93M $12.80M
YoY Change 32.25% -44.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $855.0M
YoY Change -100.0% -53.39%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $41.78M $888.4M
YoY Change -95.3% -53.21%
LONG-TERM LIABILITIES
Long-Term Debt $4.004B $2.901B
YoY Change 38.01% 7.6%
Other Long-Term Liabilities $1.784M $1.700M
YoY Change 4.94% 466.67%
Total Long-Term Liabilities $4.005B $2.903B
YoY Change 37.99% 7.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.78M $888.4M
Total Long-Term Liabilities $4.005B $2.903B
Total Liabilities $4.047B $3.791B
YoY Change 6.76% -17.5%
SHAREHOLDERS EQUITY
Retained Earnings -$245.3M
YoY Change
Common Stock $77.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.468B $1.277B
YoY Change
Total Liabilities & Shareholders Equity $5.515B $5.269B
YoY Change 4.66% -9.56%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $23.78M $31.96M
YoY Change -25.58% -113.73%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $32.62M $26.34M
YoY Change 23.83% -29.81%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$205.8M -$62.30M
YoY Change 230.36% -65.97%
Cash From Investing Activities -$205.8M -$62.34M
YoY Change 230.13% -65.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 264.6M 18.75M
YoY Change 1310.77% -89.0%
NET CHANGE
Cash From Operating Activities 32.62M 26.34M
Cash From Investing Activities -205.8M -62.34M
Cash From Financing Activities 264.6M 18.75M
Net Change In Cash 91.38M -17.25M
YoY Change -629.77% -169.37%
FREE CASH FLOW
Cash From Operating Activities $32.62M $26.34M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
32617000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
26340000
CY2022Q1 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
223871000
CY2022Q1 us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
637906000
CY2021Q1 us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
4212000
CY2022Q1 us-gaap Proceeds From Issuance Of First Mortgage Bond
ProceedsFromIssuanceOfFirstMortgageBond
907031000
CY2021Q1 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-478000
CY2022Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
418000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
319669000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
352419000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
302420000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
17490000
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
16723000
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
20000
CY2021Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
852000
CY2022Q1 trtx Collateralized Loan Obligation Proceeds Held At Trustee
CollateralizedLoanObligationProceedsHeldAtTrustee
56000
CY2021Q1 trtx Collateralized Loan Obligation Proceeds Held At Trustee
CollateralizedLoanObligationProceedsHeldAtTrustee
308916000
CY2022Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
18701000
CY2021Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
15510000
CY2022Q1 trtx Principal Repayments Of Loans Held For Investment Held By Servicer Trustee Net
PrincipalRepaymentsOfLoansHeldForInvestmentHeldByServicerTrusteeNet
348000
CY2021Q1 trtx Principal Repayments Of Loans Held For Investment Held By Servicer Trustee Net
PrincipalRepaymentsOfLoansHeldForInvestmentHeldByServicerTrusteeNet
1154000
CY2022Q1 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
711000
CY2021Q1 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
58000
CY2022Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the presentation of the Company’s current period consolidated financial statements. These reclassifications had no effect on the Company’s previously reported net income or total assets in the consolidated statements of income and comprehensive income and consolidated balance sheets, respectively. Prior period amounts related to preferred stock dividends and participating securities’ share in earnings were reclassified to conform with the current period presentation of net income attributable to common stockholders in the consolidated statements of income and comprehensive income.</span></p>
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the consolidated financial statements in conformity with GAAP requires estimates of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from management’s estimates, and such differences could be material. Significant estimates made in the consolidated financial statements include, but are not limited to, the adequacy of our allowance for credit losses and the valuation inputs related thereto and the valuation of financial instruments. Actual amounts and values as of the balance sheet dates may be materially different from the amounts and values reported due to the inherent uncertainty in the estimation process and the limited availability of observable pricing inputs due to the nature of transitional mortgage loans. Also, future amounts and values could differ materially from those estimates due to changes in values and circumstances after the balance sheet date and the limited availability of observable prices.</span></p>
CY2022Q1 trtx Percentage Of Senior Mortgage Loan Transferred To Third Party
PercentageOfSeniorMortgageLoanTransferredToThirdParty
1
CY2021Q1 trtx Total Loan Repayments
TotalLoanRepayments
0
CY2022Q1 trtx Loan Commitment Non Consolidated Senior Interest Outstanding
LoanCommitmentNonConsolidatedSeniorInterestOutstanding
132000000.0
CY2022Q1 trtx Maximum Insured Amount Of Each Cash Account
MaximumInsuredAmountOfEachCashAccount
250000
CY2021Q4 trtx Maximum Insured Amount Of Each Cash Account
MaximumInsuredAmountOfEachCashAccount
250000
CY2022Q1 us-gaap Cash
Cash
16200000
CY2021Q4 us-gaap Cash
Cash
15000000.0
CY2021Q4 trtx Loan Commitment Non Consolidated Senior Interest Outstanding
LoanCommitmentNonConsolidatedSeniorInterestOutstanding
132000000.0
CY2022Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
2700000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
351600000
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
800000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
260600000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
400000
CY2021Q4 us-gaap Financing Receivable Originated Five Or More Years Before Latest Fiscal Year
FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear
17163000
CY2021Q4 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
173871000
CY2021Q4 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
1672184000
CY2021Q4 us-gaap Financing Receivable Originated Three Years Before Latest Fiscal Year
FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
856873000
CY2022Q1 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
224160000
CY2021 us-gaap Paid In Kind Interest
PaidInKindInterest
3000000.0
CY2022Q1 trtx Percentage Of Loans Subject To Yield Maintenance Or Other Prepayment Restrictions
PercentageOfLoansSubjectToYieldMaintenanceOrOtherPrepaymentRestrictions
0.420
CY2022Q1 trtx Percentage Of Loans Open To Repayment By Borrower Without Penalty
PercentageOfLoansOpenToRepaymentByBorrowerWithoutPenalty
0.580
CY2022Q1 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
5125167000
CY2022Q1 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-9379000
CY2022Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
5115788000
CY2022Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
46307000
CY2022Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
5069481000
CY2021Q4 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
4919343000
CY2021Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-10141000
CY2021Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
4909202000
CY2021Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
41999000
CY2021Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
4867203000
CY2021Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
4867203000
CY2022Q1 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
223871000
CY2022Q1 us-gaap Mortgage Loans On Real Estate Other Additions
MortgageLoansOnRealEstateOtherAdditions
29235000
CY2022Q1 trtx Mortgage Loans On Real Estate Amortization Of Origination Fees
MortgageLoansOnRealEstateAmortizationOfOriginationFees
1491000
CY2022Q1 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
47698000
CY2022Q1 trtx Mortgage Loans On Real Estate Collection Of Accrued Paid In Kind Interest
MortgageLoansOnRealEstateCollectionOfAccruedPaidInKindInterest
313000
CY2022Q1 trtx Mortgage Loans On Real Estate Change In Allowance For Credit Losses
MortgageLoansOnRealEstateChangeInAllowanceForCreditLosses
-4308000
CY2022Q1 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
5069481000
CY2022Q1 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
-9400000
CY2021Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
-10100000
CY2022Q1 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
0
CY2021Q4 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
0
CY2022Q1 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
1647659000
CY2022Q1 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
175145000
CY2022Q1 us-gaap Financing Receivable Originated Three Years Before Latest Fiscal Year
FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
1639580000
CY2022Q1 us-gaap Financing Receivable Originated Four Years Before Latest Fiscal Year
FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear
854933000
CY2022Q1 us-gaap Financing Receivable Originated Five Or More Years Before Latest Fiscal Year
FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear
574311000
CY2022Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
5115788000
CY2021Q4 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
1634280000
CY2022Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
5115788000
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4909202000
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
46307000
CY2021Q4 us-gaap Financing Receivable Originated Four Years Before Latest Fiscal Year
FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear
554831000
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4909202000
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
41999000
CY2022Q1 us-gaap Notes Receivable Net
NotesReceivableNet
5069481000
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
4867203000
CY2022Q1 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.1
CY2021Q4 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.0
CY2022Q1 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.1
CY2021Q4 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.0
CY2022Q1 trtx Number Of Loans Downgraded For Risk Rate Changes
NumberOfLoansDowngradedForRiskRateChanges
9
CY2022Q1 trtx Number Of Loans Selected For Risk Rate Changes
NumberOfLoansSelectedForRiskRateChanges
1
CY2022Q1 trtx Financing Receivable Allowance For Credit Losses Loans Held For Investment And Unfunded Loan Commitment
FinancingReceivableAllowanceForCreditLossesLoansHeldForInvestmentAndUnfundedLoanCommitment
51093000
CY2021Q1 trtx Financing Receivable Allowance For Credit Losses Loans Held For Investment And Unfunded Loan Commitment
FinancingReceivableAllowanceForCreditLossesLoansHeldForInvestmentAndUnfundedLoanCommitment
58790000
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
51100000
CY2021 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
46200000
CY2022Q1 trtx Financing Receivable Allowance For Credit Loss Increase Decrease Increased Loan Origination
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseIncreasedLoanOrigination
4900000
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
-4000000.0
CY2021Q1 trtx Financing Receivable Allowance For Credit Losses Loans Held For Investment And Unfunded Loan Commitment
FinancingReceivableAllowanceForCreditLossesLoansHeldForInvestmentAndUnfundedLoanCommitment
58800000
CY2021Q4 trtx Paid In Kind Interest Outstanding
PaidInKindInterestOutstanding
3028000
CY2022Q1 trtx Paid In Kind Interest Repayment
PaidInKindInterestRepayment
313000
CY2022Q1 trtx Paid In Kind Interest Outstanding
PaidInKindInterestOutstanding
2715000
CY2022Q1 trtx Paid In Kind Interest Accrued
PaidInKindInterestAccrued
0
CY2022Q1 trtx Loans Accrued Interest Income
LoansAccruedInterestIncome
0
CY2021Q4 trtx Loans Accrued Interest Income
LoansAccruedInterestIncome
0
CY2022Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
5115788000
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4909202000
CY2022Q1 trtx Other Loan Held For Investment Net
OtherLoanHeldForInvestmentNet
1100000
CY2021Q4 us-gaap Debt Instrument Collateral Amount
DebtInstrumentCollateralAmount
1719735000
CY2021Q4 trtx Debt Instrument Amortized Cost Of Collateral
DebtInstrumentAmortizedCostOfCollateral
1719489000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1167323000
CY2021Q4 trtx Debt Instrument Counterparty Amount At Risk
DebtInstrumentCounterpartyAmountAtRisk
552165000
CY2021 trtx Debt Instrument Counterparty Extended Maturity Days
DebtInstrumentCounterpartyExtendedMaturityDays
P794D
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
243994000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
449399000
CY2022Q1 trtx Management Fees And Incentive Management Fees Paid
ManagementFeesAndIncentiveManagementFeesPaid
5609000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1317104000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
514391000
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1109130000
CY2022Q1 trtx Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
389150000
CY2022Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
3183528000
CY2022Q1 us-gaap Debt Instrument Collateral Amount
DebtInstrumentCollateralAmount
1619567000
CY2022Q1 trtx Debt Instrument Amortized Cost Of Collateral
DebtInstrumentAmortizedCostOfCollateral
1621620000
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1166996000
CY2022Q1 trtx Debt Instrument Counterparty Amount At Risk
DebtInstrumentCounterpartyAmountAtRisk
454623000
CY2022Q1 trtx Debt Instrument Counterparty Extended Maturity Days
DebtInstrumentCounterpartyExtendedMaturityDays
P873D
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
3072901000
CY2022Q1 us-gaap Long Term Debt
LongTermDebt
4023168000
CY2022Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
286900000
CY2021Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
199300000
CY2022Q1 trtx Threshold Period Of Delinquency To Consider Loan Nonperforming And Place On Nonaccrual Status
ThresholdPeriodOfDelinquencyToConsiderLoanNonperformingAndPlaceOnNonaccrualStatus
P90D
CY2022Q1 trtx Loans Held For Investment Fair Value Disclosure Nonrecurring
LoansHeldForInvestmentFairValueDisclosureNonrecurring
5100000000
CY2021Q4 trtx Loans Held For Investment Fair Value Disclosure Nonrecurring
LoansHeldForInvestmentFairValueDisclosureNonrecurring
4900000000
CY2022Q1 trtx Loans Held For Investment Weighted Average Gross Credit Spread
LoansHeldForInvestmentWeightedAverageGrossCreditSpread
0.0344
CY2021Q4 trtx Loans Held For Investment Weighted Average Gross Credit Spread
LoansHeldForInvestmentWeightedAverageGrossCreditSpread
0.0339
CY2022Q1 trtx Loans Held For Investment Weighted Average Maturity Period
LoansHeldForInvestmentWeightedAverageMaturityPeriod
P2Y8M12D
CY2021 trtx Loans Held For Investment Weighted Average Maturity Period
LoansHeldForInvestmentWeightedAverageMaturityPeriod
P2Y9M18D
CY2022Q1 trtx Fair Value Of Assets And Liabilities Transfers Amount
FairValueOfAssetsAndLiabilitiesTransfersAmount
0
CY2022Q1 trtx Excise Tax Percentage
ExciseTaxPercentage
1
CY2022Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2022Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0
CY2022Q1 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
100000
CY2021Q1 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
900000
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.004
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.028
CY2021Q1 trtx Management Fees And Incentive Management Fees Paid
ManagementFeesAndIncentiveManagementFeesPaid
5358000
CY2017Q3 trtx Incentive Management Fee Percentage Of Core Earnings Less Seven Percent Of Stockholders Equity
IncentiveManagementFeePercentageOfCoreEarningsLessSevenPercentOfStockholdersEquity
0.20
CY2022Q1 trtx Management Fees And Incentive Management Fees Incurred
ManagementFeesAndIncentiveManagementFeesIncurred
5709000
CY2021Q1 trtx Management Fees And Incentive Management Fees Incurred
ManagementFeesAndIncentiveManagementFeesIncurred
5094000
CY2021Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
146000
CY2021Q1 trtx Write Off Of Unamortized Discount Including Unamortized Amounts Related To Allocated Warrant Fair Value And Transaction Costs
WriteOffOfUnamortizedDiscountIncludingUnamortizedAmountsRelatedToAllocatedWarrantFairValueAndTransactionCosts
-1452000
CY2022Q1 us-gaap Undistributed Earnings
UndistributedEarnings
20436000
CY2022Q1 trtx Unfunded Commitments Loans Held For Investment
UnfundedCommitmentsLoansHeldForInvestment
463000000.0
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
23781000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
31955000
CY2022Q1 trtx Dividends Preferred Stock Paid And Accrued
DividendsPreferredStockPaidAndAccrued
3148000
CY2021Q1 trtx Dividends Preferred Stock Paid And Accrued
DividendsPreferredStockPaidAndAccrued
6124000
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
197000
CY2022Q1 trtx Related Parties Termination Fee Description
RelatedPartiesTerminationFeeDescription
A termination fee would be due to the Manager upon termination of the Management Agreement by the Company absent a cause event. The termination fee would also be payable to the Manager upon termination of the Management Agreement by the Manager if the Company materially breaches the Management Agreement. The termination fee is equal to three times the sum of (x) the average annual base management fee and (y) the average annual incentive compensation earned by the Manager, in each case during the 24-month period immediately preceding the most recently completed calendar quarter prior to the date of termination.
CY2022Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
200000
CY2022Q1 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
200000
CY2021Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
100000
CY2021Q1 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
100000
CY2021Q1 us-gaap Undistributed Earnings
UndistributedEarnings
24233000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77183957
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76895615
CY2022Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
4604766
CY2021Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
3777621
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81788723
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80673236
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
18700000
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
15500000
CY2022Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
18700000
CY2021Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
24200000
CY2022Q1 trtx Dividends Common Stock Paidinkind Shares
DividendsCommonStockPaidinkindShares
1953
CY2021Q4 trtx Unfunded Commitments Loans Held For Investment
UnfundedCommitmentsLoansHeldForInvestment
487800000
CY2022Q1 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5593350000
CY2022Q1 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
463042000
CY2022Q1 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2022Q1 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
5125167000
CY2022Q1 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2021Q4 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5411944000
CY2021Q4 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
487773000
CY2021Q4 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2021Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4919343000
CY2021Q4 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2022Q1 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
2700000
CY2021Q4 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
3000000.0
CY2021 trtx Commitment Related To Non Performing Retail Loan Held For Investment
CommitmentRelatedToNonPerformingRetailLoanHeldForInvestment
7800000
CY2022Q1 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5593350000
CY2022Q1 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
463042000
CY2022Q1 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2022Q1 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
5125167000
CY2022Q1 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2021Q4 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5411944000
CY2021Q4 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
487773000
CY2021Q4 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2021Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4919343000
CY2021Q4 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2022Q1 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
2700000
CY2021Q4 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
3000000.0
CY2021 trtx Commitment Related To Non Performing Retail Loan Held For Investment
CommitmentRelatedToNonPerformingRetailLoanHeldForInvestment
7800000
CY2022Q1 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5593350000
CY2022Q1 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
463042000
CY2022Q1 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2022Q1 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
5125167000
CY2022Q1 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2021Q4 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5411944000
CY2021Q4 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
487773000
CY2021Q4 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2021Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4919343000
CY2021Q4 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2022Q1 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
2700000
CY2021Q4 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
3000000.0
CY2021 trtx Commitment Related To Non Performing Retail Loan Held For Investment
CommitmentRelatedToNonPerformingRetailLoanHeldForInvestment
7800000

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