TRTX Q3 Earnings Drop to $0.08/Share as $13M REO Loss Hits; New $50M Buyback Approved
TRTX is trading near its 52-week low of $5.6 (12% above the low).
Summary
TRTX earned $0.08 per share in Q3 2026, down from $0.12, as a $13.0 million REO-conversion loss cut Distributable Earnings to $0.07 — below the $0.24 dividend. The board simultaneously approved a new $50.0 million buyback.
Key Events · Earnings and Guidance · TRTX
-
Q3 Earnings Fall Sharply
Net income attributable to common stockholders was $5.8 million, or $0.08 per diluted share, versus $9.4 million ($0.12) in Q2 2026.
-
Distributable Earnings Below Dividend
Distributable Earnings of $5.1 million ($0.07/share) fell from $17.6 million ($0.23) after a $13.0 million realized loss on the Plano, TX REO conversion; the quarterly dividend is $0.24.
-
Credit Loss Expense Jumps
Credit loss expense rose to $8.6 million in Q3 from $3.6 million in Q2 2026; the total CECL reserve is $76.1 million, or 147 basis points of $5.2 billion of loan commitments.
-
New $50M Buyback Approved
On October 26, 2026 the board authorized repurchases of up to $50.0 million of common stock, replacing the prior $25.0 million program that was fully utilized.
Analysis · TRTX · Real Estate & Construction
A $13.0 million realized loss on a Plano, TX multifamily foreclosure pushed Distributable Earnings down to $0.07 per share, no longer covering the $0.24 quarterly dividend. Credit loss expense jumped to $8.6 million from $3.6 million sequentially, and book value slipped to $10.85 from $11.07 at year-end. Offsetting the weak quarter, the board authorized a new $50.0 million repurchase program on October 26, 2026 — double the prior $25.0 million authorization, which was fully used — and the $1.0 billion TRTX 2026-FL8 CLO closed October 2, 2026, keeping non-mark-to-market financing at 78.8% of borrowings.
How filings like this one have moved
In the 30 days to Oct 26, 2026, 29.9% of the 1374 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, TRTX was trading at $6.25 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $479.8M. The 52-week trading range was $5.60 to $9.37. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.