ARI vs BXMT vs KREF vs TRTX vs GPMT

For growth investors, Granite Point Mortgage Trust Inc.

(GPMT) is the stronger pick with 187. 8% revenue growth year-over-year, versus -22. 7% for KKR Real Estate Finance Trust Inc. (KREF). Apollo Commercial Real Estate Finance, Inc. (ARI) offers the better valuation at 13. 5x trailing P/E (12. 6x forward), making it the more compelling value choice. Analysts rate KKR Real Estate Finance Trust Inc. (KREF) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Apollo Commercial Real Estate Finance, Inc.

(ARI) is the cheapest at 13. 5x versus Blackstone Mortgage Trust, Inc. at 29. 9x. On forward P/E, TPG RE Finance Trust, Inc. is actually cheaper at 8. 1x — notably different from the trailing picture, reflecting expected earnings growth.

Over the past 5 years, Apollo Commercial Real Estate Finance, Inc.

(ARI) delivered a total return of +12. 6%, compared to -65. 3% for Granite Point Mortgage Trust Inc. (GPMT). Over 10 years, the gap is even starker: ARI returned +60. 5% versus GPMT's -50. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Apollo Commercial Real Estate Finance, Inc.

(ARI) is the lower-risk stock at 0. 60β versus Granite Point Mortgage Trust Inc. 's 1. 44β — meaning GPMT is approximately 141% more volatile than ARI relative to the S&P 500. On balance sheet safety, Granite Point Mortgage Trust Inc. (GPMT) carries a lower debt/equity ratio of 2% versus 5% for Blackstone Mortgage Trust, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Granite Point Mortgage Trust Inc.

(GPMT) is pulling ahead at 187. 8% versus -22. 7% for KKR Real Estate Finance Trust Inc. (KREF). On earnings-per-share growth, the picture is similar: Apollo Commercial Real Estate Finance, Inc. grew EPS 183. 5% year-over-year, compared to -652. 6% for KKR Real Estate Finance Trust Inc.. Over a 3-year CAGR, GPMT leads at 22. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

TPG RE Finance Trust, Inc.

(TRTX) is the more profitable company, earning 18. 1% net margin versus -28. 3% for Granite Point Mortgage Trust Inc. — meaning it keeps 18. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: TRTX leads at 73. 0% versus 43. 6% for GPMT. At the gross margin level — before operating expenses — KREF leads at 88. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, TPG RE Finance Trust, Inc.

(TRTX) trades at 8. 1x forward P/E versus 12. 6x for Apollo Commercial Real Estate Finance, Inc. — 4. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for GPMT: 61. 3% to $2. 50.

All stocks in this comparison pay dividends.

KKR Real Estate Finance Trust Inc. (KREF) offers the highest yield at 15. 2%, versus 9. 3% for Apollo Commercial Real Estate Finance, Inc. (ARI).

For long-horizon retirement investors, Apollo Commercial Real Estate Finance, Inc.

(ARI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 60), 9. 3% yield). Both have compounded well over 10 years (ARI: +60. 5%, GPMT: -50. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: ARI is a small-cap deep-value stock; BXMT is a small-cap income-oriented stock; KREF is a small-cap income-oriented stock; TRTX is a small-cap high-growth stock; GPMT is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.