Shares of TPG RE Finance Trust Inc. (NYSE: TRTX) tumbled 5.9% in after-hours trading on Tuesday, following the company's disappointing fourth-quarter earnings results. The commercial real estate finance firm missed Wall Street's profit expectations, despite beating revenue estimates for the quarter.
For the three months ended December 31, 2024, TRTX reported earnings of $0.09 per diluted share, falling well short of analysts' consensus estimate of $0.28 per share. On the top line, revenue came in at $34.7 million, exceeding the $28.6 million forecast by analysts.
TPG RE Finance's CEO Doug Bouquard highlighted the company's solid loan origination activity during the quarter, with $242 million of new loans originated and $110 million of repayments received. However, the weaker-than-expected earnings performance overshadowed these positives, driving the sell-off in the after-hours session.