$TRTX
TPG RE Finance Trust, Inc.

2020 Q1 Form 10-Q Financial Statement

#000156459020024188 Filed on May 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019 Q1
Revenue $82.08M $83.36M $77.02M
YoY Change 6.57% 15.52% 28.95%
Cost Of Revenue $7.100M $8.260M $7.700M
YoY Change -7.79% 17.83% 5.48%
Gross Profit $74.98M $75.10M $69.32M
YoY Change 8.17% 15.27% 32.19%
Gross Profit Margin 91.35% 90.09% 90.0%
Selling, General & Admin $2.380M $1.030M $1.330M
YoY Change 78.95% 17.05% 19.82%
% of Gross Profit 3.17% 1.37% 1.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.370M $970.0K $1.320M
YoY Change 79.55% 11.49% 20.0%
Operating Profit $72.61M $74.13M $68.00M
YoY Change 6.78% 15.32% 32.45%
Interest Expense $38.46M -$41.17M -$39.37M
YoY Change -197.68% 15.71% -251.43%
% of Operating Profit 52.96% -55.54% -57.9%
Other Income/Expense, Net $9.025M
YoY Change 7.39%
Pretax Income -$232.7M $32.96M $28.63M
YoY Change -912.76% 14.84% 13.04%
Income Tax $90.00K $50.00K $219.0K
% Of Pretax Income 0.15% 0.76%
Net Earnings -$232.8M $32.91M $28.41M
YoY Change -919.34% 15.19% 13.13%
Net Earnings / Revenue -283.61% 39.48% 36.89%
Basic Earnings Per Share -$3.05 $0.42
Diluted Earnings Per Share -$3.05 $441.6K $0.42
COMMON SHARES
Basic Shares Outstanding 76.47M 68.29M
Diluted Shares Outstanding 76.47M 68.29M

Balance Sheet

Concept 2020 Q1 2019 Q4 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $103.6M $79.20M $55.40M
YoY Change 87.0% 99.5% -25.54%
Cash & Equivalents $104.5M $79.18M $55.83M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $35.50M $16.10M $10.20M
Other Receivables $28.20M $28.10M $24.40M
Total Short-Term Assets $167.3M $123.4M $90.00M
YoY Change 85.89% -21.35% -4.76%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $604.8M $787.6M $308.3M
YoY Change 96.17% 958.6% 106.91%
Other Assets $900.0K $500.0K $400.0K
YoY Change 125.0% -50.0% 0.0%
Total Long-Term Assets $5.659B $5.769B $5.029B
YoY Change 12.53% 32.03% 34.2%
TOTAL ASSETS
Total Short-Term Assets $167.3M $123.4M $90.00M
Total Long-Term Assets $5.659B $5.769B $5.029B
Total Assets $5.826B $5.893B $5.119B
YoY Change 13.81% 30.18% 33.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.000M $9.500M $6.500M
YoY Change 23.08% 58.33% 10.17%
Accrued Expenses $23.00M $14.80M $21.00M
YoY Change 9.52% 3.5% 69.35%
Deferred Revenue
YoY Change
Short-Term Debt $1.835B $2.314B $1.281B
YoY Change 43.17% 121.66% -17.32%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.899B $2.372B $1.340B
YoY Change 41.65% 116.89% -15.88%
LONG-TERM LIABILITIES
Long-Term Debt $2.696B $2.017B $2.335B
YoY Change 15.48% -4.21% 121.09%
Other Long-Term Liabilities $300.0K $200.0K $600.0K
YoY Change -50.0% -60.0% 500.0%
Total Long-Term Liabilities $2.696B $2.017B $2.335B
YoY Change 15.46% -4.22% 121.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.899B $2.372B $1.340B
Total Long-Term Liabilities $2.696B $2.017B $2.335B
Total Liabilities $4.595B $4.389B $3.676B
YoY Change 25.01% 37.17% 38.74%
SHAREHOLDERS EQUITY
Retained Earnings -$313.8M -$28.11M
YoY Change 8.46%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.231B $1.504B $1.444B
YoY Change
Total Liabilities & Shareholders Equity $5.826B $5.893B $5.119B
YoY Change 13.81% 30.18% 33.24%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019 Q1
OPERATING ACTIVITIES
Net Income -$232.8M $32.91M $28.41M
YoY Change -919.34% 15.19% 13.13%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $37.53M $33.80M $26.03M
YoY Change 44.15% 14.58% 11.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$183.1M -$46.30M -$590.1M
YoY Change -68.97% -79.5% 22.71%
Cash From Investing Activities -$183.1M -$46.30M -$590.1M
YoY Change -68.96% -79.5% 22.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $12.90M $119.1M
YoY Change -89.17%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 170.5M -7.500M 579.1M
YoY Change -70.57% -103.93% 26.87%
NET CHANGE
Cash From Operating Activities 37.53M 33.80M 26.03M
Cash From Investing Activities -183.1M -46.30M -590.1M
Cash From Financing Activities 170.5M -7.500M 579.1M
Net Change In Cash 24.87M -20.00M 15.11M
YoY Change 64.56% 250.88% -1682.3%
FREE CASH FLOW
Cash From Operating Activities $37.53M $33.80M $26.03M
Capital Expenditures $0.00
Free Cash Flow $33.80M
YoY Change

Facts In Submission

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CY2020Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">Reclassifications</span></p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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. These reclassifications include the separate presentation of stock compensation on the consolidated statements of income and comprehensive income, and </span><span style="color:#000000;">the disaggregation of proceeds and payments from secured financing agreements secured by loans and secured financing agreements secured by CRE debt securities on the consolidated statements of cash flows. </span></p>
CY2020Q1 us-gaap Use Of Estimates
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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the interim 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 interim consolidated financial statements. Actual results could differ from management’s estimates, and such differences could be material. Significant estimates made in the interim consolidated financial statements include, but are not limited to: impairment; adequacy of provisions for credit losses; and valuation of financial instruments. Actual amounts and values as of the balance sheet dates may be materially different than the amounts and values reported due to the inherent uncertainty in the estimation process and the limited availability of observable pricing inputs due to market dislocation resulting from the COVID-19 pandemic. 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.</p>
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CY2019Q4 us-gaap Cash
Cash
56900000
CY2020Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
5096353000
CY2020Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
75658000
CY2020Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
5020695000
CY2019Q4 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
4998176000
CY2019Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-17787000
CY2020Q1 us-gaap Substantial Doubt About Going Concern Managements Evaluation
SubstantialDoubtAboutGoingConcernManagementsEvaluation
However, with consideration of the above actions taken, Management projects that the Company will not have sufficient liquidity to repay maturing debt balances of $432.2 million and meet its obligations as they become due to sustain operations through at least one year following the date the consolidated financial statements are issued. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.
CY2019Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
4980389000
CY2020Q1 trtx Substantial Doubt About Going Concern Debt Immediately Due And Payable
SubstantialDoubtAboutGoingConcernDebtImmediatelyDueAndPayable
432200000
CY2020Q1 us-gaap Substantial Doubt About Going Concern Managements Plans Substantial Doubt Alleviated
SubstantialDoubtAboutGoingConcernManagementsPlansSubstantialDoubtAlleviated
In response to these conditions, Management’s plans include the intention to execute extensions with the Company’s lenders during 2020, and believes that such extensions are probable of occurring, which is expected to extend the maturity dates until May 2022 or after. The Company has a history of successfully executing extensions with these lenders. As a result, the Company has concluded that management’s plans are probable of being achieved to alleviate substantial doubt about the Company’s ability to continue as a going concern.
CY2019Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
4980389000
CY2019Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
4980389000
CY2019Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
8176000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-28108000
CY2020Q1 trtx Loan Commitment Non Consolidated Senior Interest Outstanding
LoanCommitmentNonConsolidatedSeniorInterestOutstanding
132000000.0
CY2020Q1 trtx Percentage Of Loans Subject To Yield Maintenance Or Other Prepayment Restrictions
PercentageOfLoansSubjectToYieldMaintenanceOrOtherPrepaymentRestrictions
0.660
CY2020Q1 trtx Percentage Of Loans Open To Repayment By Borrower Without Penalty
PercentageOfLoansOpenToRepaymentByBorrowerWithoutPenalty
0.340
CY2020Q1 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
5112808000
CY2020Q1 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-16455000
CY2019Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
4980389000
CY2020Q1 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
351650000
CY2020Q1 us-gaap Mortgage Loans On Real Estate Other Additions
MortgageLoansOnRealEstateOtherAdditions
61720000
CY2020Q1 trtx Mortgage Loans On Real Estate Amortization Of Origination Fees
MortgageLoansOnRealEstateAmortizationOfOriginationFees
3213000
CY2020Q1 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
300619000
CY2020Q1 trtx Mortgage Loans On Real Estate Change In Allowance For Credit Losses
MortgageLoansOnRealEstateChangeInAllowanceForCreditLosses
-75658000
CY2020Q1 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-16500000
CY2019Q4 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
2.9
CY2020Q1 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.1
CY2020Q1 trtx Available For Sale Securities Face Amount
AvailableForSaleSecuritiesFaceAmount
767334000
CY2019Q4 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
2.9
CY2020Q1 trtx Financing Receivable Allowance For Credit Loss Unfunded Loan Commitment
FinancingReceivableAllowanceForCreditLossUnfundedLoanCommitment
7335000
CY2020Q1 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
5020695000
CY2020Q1 trtx Available For Sale Securities Impaired Face Amount
AvailableForSaleSecuritiesImpairedFaceAmount
604488000
CY2020Q1 trtx Available For Sale Securities Unamortized Premium Discount Net
AvailableForSaleSecuritiesUnamortizedPremiumDiscountNet
236000
CY2020Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
604724000
CY2020Q1 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
77000
CY2020Q1 us-gaap Available For Sale Securities
AvailableForSaleSecurities
604801000
CY2019Q4 trtx Available For Sale Securities Face Amount
AvailableForSaleSecuritiesFaceAmount
786349000
CY2020Q1 trtx Financing Receivable Allowance For Credit Loss Loans Held For Investment
FinancingReceivableAllowanceForCreditLossLoansHeldForInvestment
75658000
CY2020Q1 trtx Accelerated Fee Component Of Prepayment Fees
AcceleratedFeeComponentOfPrepaymentFees
300000
CY2019Q1 trtx Accelerated Fee Component Of Prepayment Fees
AcceleratedFeeComponentOfPrepaymentFees
600000
CY2020Q1 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
353127000
CY2020Q1 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
2316626000
CY2020Q1 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
1619321000
CY2020Q1 us-gaap Financing Receivable Originated Three Years Before Latest Fiscal Year
FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
779222000
CY2020Q1 us-gaap Financing Receivable Originated Four Years Before Latest Fiscal Year
FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear
28057000
CY2020Q1 us-gaap Financing Receivable After Deferred Income Offset
FinancingReceivableAfterDeferredIncomeOffset
5096353000
CY2019Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
4980389000
CY2019Q4 trtx Available For Sale Securities Unamortized Premium Discount Net
AvailableForSaleSecuritiesUnamortizedPremiumDiscountNet
152000
CY2020Q1 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.1
CY2020Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
97400000
CY2020Q1 trtx Threshold Period Of Delinquency To Consider Loan Nonperforming And Place On Nonaccrual Status
ThresholdPeriodOfDelinquencyToConsiderLoanNonperformingAndPlaceOnNonaccrualStatus
P90D
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
82993000
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
83000000.0
CY2019Q4 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
2.9
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
786501000
CY2019Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1051000
CY2019Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
787552000
CY2020Q1 trtx Weighted Average Contractual Maturity Of Agreement
WeightedAverageContractualMaturityOfAgreement
P3Y
CY2020Q1 us-gaap Loans And Leases Receivable Collateral For Secured Borrowings
LoansAndLeasesReceivableCollateralForSecuredBorrowings
170900000
CY2020Q1 trtx Cash Proceeds From Bond Sales
CashProceedsFromBondSales
89800000
CY2020Q1 trtx Unpaid Margin Calls
UnpaidMarginCalls
19000000.0
CY2020Q1 us-gaap Debt Instrument Description Of Variable Rate Basis
DebtInstrumentDescriptionOfVariableRateBasis
one-month LIBOR
CY2019 trtx Fair Value Of Assets And Liabilities Transfers Amount
FairValueOfAssetsAndLiabilitiesTransfersAmount
0
CY2020Q1 trtx Loans Held For Investment Fair Value Disclosure Nonrecurring
LoansHeldForInvestmentFairValueDisclosureNonrecurring
5000000000.0
CY2019Q4 trtx Loans Held For Investment Fair Value Disclosure Nonrecurring
LoansHeldForInvestmentFairValueDisclosureNonrecurring
5000000000.0
CY2020Q1 trtx Loans Held For Investment Weighted Average Gross Spread
LoansHeldForInvestmentWeightedAverageGrossSpread
0.0341
CY2019Q4 trtx Loans Held For Investment Weighted Average Gross Spread
LoansHeldForInvestmentWeightedAverageGrossSpread
0.0348
CY2020Q1 trtx Loans Held For Investment Weighted Average Maturity Period
LoansHeldForInvestmentWeightedAverageMaturityPeriod
P3Y8M12D
CY2019 trtx Loans Held For Investment Weighted Average Maturity Period
LoansHeldForInvestmentWeightedAverageMaturityPeriod
P3Y9M18D
CY2020Q1 trtx Secured Financing Agreements Fair Value Disclosure
SecuredFinancingAgreementsFairValueDisclosure
1800000000
CY2020Q1 trtx Collateralized Loan Obligation Fair Value Disclosure
CollateralizedLoanObligationFairValueDisclosure
2700000000
CY2020Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2020Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0
CY2020Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0
CY2020Q1 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
100000
CY2019Q1 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
200000
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.008
CY2017Q3 trtx Incentive Management Fee Percentage Of Core Earnings Less Seven Percent Of Stockholders Equity
IncentiveManagementFeePercentageOfCoreEarningsLessSevenPercentOfStockholdersEquity
0.20
CY2020Q1 trtx Management Fees And Incentive Management Fees Incurred
ManagementFeesAndIncentiveManagementFeesIncurred
5000000
CY2019Q1 trtx Management Fees And Incentive Management Fees Incurred
ManagementFeesAndIncentiveManagementFeesIncurred
6508000
CY2020Q1 trtx Management Fees And Incentive Management Fees Paid
ManagementFeesAndIncentiveManagementFeesPaid
7252000
CY2019Q1 trtx Management Fees And Incentive Management Fees Paid
ManagementFeesAndIncentiveManagementFeesPaid
6100000
CY2020Q1 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
CY2020Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
300000
CY2020Q1 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
300000
CY2019Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
100000
CY2019Q1 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
100000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-232793000
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
28409000
CY2020Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
268000
CY2019Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
141000
CY2020Q1 us-gaap Undistributed Earnings
UndistributedEarnings
-233061000
CY2019Q1 us-gaap Undistributed Earnings
UndistributedEarnings
28268000
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
76465322
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
68294736
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.05
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.42
CY2020Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
33200000
CY2019Q1 us-gaap Dividends
Dividends
31600000
CY2020Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
33200000
CY2019Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
32800000
CY2019Q4 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2019Q4 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
4998176000
CY2019Q4 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
630589000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2020Q1 trtx Schedule Of Awarded Shares Vesting Period Table Text Bock
ScheduleOfAwardedSharesVestingPeriodTableTextBock
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Generally, the shares vest in installments over a <span style="-sec-ix-hidden:F_001378">four-year</span> period, pursuant to the terms of the award and the Incentive Plan.   The following table presents the number of shares associated with outstanding awards that will vest over the next four years. Shares presented for the current year, 2020, include shares which have vested during the period from January 1, 2020 to March 31, 2020.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;"> </p> <div> <table border="0" cellpadding="0" cellspacing="0" style="margin:auto;border-collapse:collapse; width:100%;"> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:80.06%; border-bottom:solid 0.75pt #000000;" valign="bottom"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Vesting Year</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.06%; border-bottom:solid 0.75pt transparent;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td colspan="2" style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:16.88%; border-bottom:solid 0.75pt #000000;" valign="bottom"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Shares of</p> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Common Stock</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:80.06%; border-top:solid 0.75pt #000000;" valign="top"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2020</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.06%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.88%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">229,521</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:80.06%;" valign="top"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2021</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.06%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.88%;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">229,522</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:80.06%;" valign="top"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2022</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.06%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.88%;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">102,389</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:80.06%; border-bottom:solid 0.75pt transparent;" valign="top"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2023</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.06%; border-bottom:solid 0.75pt transparent;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.88%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">62,574</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%; border-bottom:solid 0.75pt transparent;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:80.06%;" valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.06%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.88%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">624,006</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> </table></div>
CY2020Q1 trtx Unfunded Commitments Loans Held For Investment
UnfundedCommitmentsLoansHeldForInvestment
650900000
CY2019Q4 trtx Unfunded Commitments Loans Held For Investment
UnfundedCommitmentsLoansHeldForInvestment
630600000
CY2020Q1 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5763697000
CY2020Q1 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
650889000
CY2020Q1 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2020Q1 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
5112808000
CY2020Q1 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2019Q4 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5628765000
CY2019Q4 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2020Q1 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5763697000
CY2020Q1 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
650889000
CY2020Q1 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2020Q1 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
5112808000
CY2020Q1 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2019Q4 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5628765000
CY2019Q4 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
630589000
CY2019Q4 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2019Q4 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
4998176000
CY2019Q4 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2020Q1 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5763697000
CY2020Q1 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
650889000
CY2020Q1 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2020Q1 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
5112808000
CY2020Q1 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2019Q4 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5628765000
CY2019Q4 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
630589000
CY2019Q4 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2019Q4 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
4998176000
CY2019Q4 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000

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