Overview

* TPG RE Finance ( TRTX ) Q3 GAAP net income was $18.4 mln, with EPS of $0.23

* Company repurchased $9.3 mln of stock, boosting book value by $0.04 per share

* Approved new $25 mln share repurchase program, maintaining 100% performing loan portfolio

Outlook

* Company expects $670 mln in loans closing to drive future earnings

* TPG RE Finance Trust ( TRTX ) announces $1.1 bln loan obligation pricing

* Company has $24.6 mln remaining in share repurchase program

Result Drivers

* LOAN ORIGINATION - Co originated $279.2 mln in total loan commitments, maintaining a 100% performing loan portfolio

* STOCK REPURCHASES - Repurchased $9.3 mln of common stock, boosting book value per share by $0.04

* CREDIT LOSS REDUCTION - At qtr end allowance for credit losses reduced by $2.6 mln, reflecting improved portfolio risk

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.23

Q3 Net $18.4

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy"

* Wall Street's median 12-month price target for TPG RE Finance Trust Inc ( TRTX ) is $11.00, about 19.2% above its October 27 closing price of $8.89

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)