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TRTX stock logo

TRTX

TPG RE Finance Trust, Inc.

$6.84
0.34
 (5.15%)
Exchange:  NYSE
Market Cap:  518.277M
Shares Outstanding:  61.314M
Delayed data
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Real EstateView sector performance
Industry:  REIT – MortgageView industry performance
   
CEO:  Doug Bouquard
Full Time Employees:  0
Address: 
888 Seventh Avenue
New York City
NY
10106
US
Website:  https://www.tpgrefinance.com
TPG RE Finance Trust, Inc. (TRTX) operates as a financial institution primarily engaged in the commercial real estate sector within the United States. Its core business involves generating, purchasing, and actively overseeing a variety of debt instruments connected to commercial properties. The company’s investment strategy encompasses a wide range of commercial real estate-backed debt, including senior and subordinate mortgage loans, mezzanine financing, preferred equity stakes, and various secured real estate securities. TRTX also allocates capital to commercial mortgage-backed securities (CMBS) and collateralized loan obligations (CLOs) that are underpinned by real estate assets. These investments are predominantly tied to properties within key sectors such as office buildings, multifamily residences, life science facilities, mixed-use developments, hospitality venues, industrial sites, and retail spaces. For federal income tax purposes, TPG RE Finance Trust, Inc. is structured as a Real Estate Investment Trust (REIT). This classification generally allows the company to avoid federal corporate income tax liabilities, provided it distributes at least 90% of its taxable income to its stockholders. Established in 2014, the company maintains its corporate headquarters in New York, New York.

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Revenue Segmentation

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Industry Peers

TICKERCOMPANYMKT CAPP/EFWD P/EROIC
TRTRTX logoTRTXTPG RE Finance Trust, Inc.518.3M16.67.64.8%
IVIVR logoIVRInvesco Mortgage Capital Inc.499.9M—2.893.2%
ADADAM logoADAMAdamas Trust, Inc.538.8M—20.03.8%
AOAOMN logoAOMNAngel Oak Mortgage REIT, Inc. 9564.1M30.619.6198.8%
FBFBRT logoFBRTFranklin BSP Realty Trust, Inc.469.9M—7.817.8%
BRBRSP logoBRSPBrightSpire Capital, Inc.443.2M26.36.72.3%

EPS

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Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/10/27 — 3 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue390,174350,932332,575
Gross Profit356,847281,814263,748
EBITDA162,388291,920262,379
Operating Income151,863276,188242,687
Net Income-116,63074,33560,319

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets4,214,3123,731,4294,406,230
Total Liabilities3,089,5272,617,3883,338,207
Total Stockholders Equity1,124,7851,114,0411,068,023
Total Debt3,039,3592,568,8230
Cash and Cash Equivalents206,376190,16087,613

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow80,126112,13190,361
Capital Expenditure-5,364-5,3240
Free Cash Flow74,762106,80790,361
Net Income-116,63074,33560,319
Net Change in Cash-47,297-16,535-102,216

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2028Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)157,707.259Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)164,783.176Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)160,707.100Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)120,318.508Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)126,938.659Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)123,628.584Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)89,145.364Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)94,375.283Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)91,760.324Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)4,038.481Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)4,219.678Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)4,115.300Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)1.150Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)1.190Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)1.120Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)1Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)1Research AccessResearch AccessResearch AccessResearch Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
350.932M  ?P/S
 (TTM)
: 
1.43
?Net Income
 (TTM)
: 
72.258M  ?P/E
 (TTM)
: 
16.56
?Enterprise Value
 (TTM)
: 
4.596B  ?EV/FCF
 (TTM)
: 
61.69
?Dividend Yield
 (TTM)
: 
14.77%  ?Payout Ratio
 (TTM)
: 
196.46%
?ROE
 (TTM)
: 
4.33%  ?ROIC
 (TTM)
: 
4.8%
?Net Debt
 (TTM)
: 
2.378B  ?Debt/Equity
 (TTM)
: 
4.08
?P/B
 (TTM)
: 
0.48  ?Current Ratio
 (TTM)
: 
2.57

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
7.59Research AccessResearch AccessResearch AccessResearch Access

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SWOT Analysis

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MarketSnap estimates TRTX intrinsic value between $17.61 – $19.37 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.


Calculate TRTX Intrinsic Value

Common questions about TRTX valuation

Is TPG RE Finance Trust, Inc. (TRTX) overvalued or undervalued right now?

MarketSnap estimates intrinsic value for TPG RE Finance Trust, Inc. (TRTX) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is TRTX a buy, hold, or sell for long-term investors?

MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether TRTX trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is TRTX’s P/E ratio?

You can see TRTX’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for TRTX?

MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is TRTX a good long-term investment?

Whether TRTX fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

Research tools for TPG RE Finance Trust, Inc.

  • TPG RE Finance Trust, Inc. intrinsic value calculatorEstimate what the business is worth
  • TPG RE Finance Trust, Inc. 5-year outlookWhat has to go right, and what could go wrong
TRTX

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

5.15
MarketSnap

Trading Metrics:

Open: 6.53   Previous Close: 6.5
Day Low: 6.5   Day High: 6.84
Year Low: 5.6   Year High: 9.35
Price Avg 50: 6.78   Price Avg 200: 8
Volume: 526933   Average Volume: 1.059M

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Relevant news

TPG RE Finance Trust, Inc. (TRTX) Q3 2026 Earnings Call Transcript
27-10-2026 13:00
TPG RE Finance Trust, Inc. (TRTX) Q3 2026 Earnings Call Transcript

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