How did TRTX's Q4 earnings surprise investors?

TPG RE Finance Trust (TRTX) experienced a notable decline in its Q4 earnings, missing analysts' expectations with an EPS of $0.10 versus the forecasted $0.26, and revenue falling to $34.74 million compared to the anticipated $39.04 million, leading to a 6.43% drop in its share price following the earnings release. Despite these shortcomings, the company's full-year 2024 distributable earnings covered dividends at a robust 1.1 times, and it maintained a strong competitive position with the strongest share price performance among peers since January 2023, achieving a cumulative return of 61% through the end of 2024.