REIT - Mortgage
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FBRT vs BXMT vs RC vs GPMT vs TRTX
Revenue, margins, valuation, and 5-year total return — side by side.
REIT - Mortgage
REIT - Mortgage
REIT - Mortgage
REIT - Mortgage
FBRT vs BXMT vs RC vs GPMT vs TRTX — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | |||||
|---|---|---|---|---|---|
| Industry | REIT - Mortgage | REIT - Mortgage | REIT - Mortgage | REIT - Mortgage | REIT - Mortgage |
| Market Cap | $696M | $3.23B | $357M | $74M | $656M |
| Revenue (TTM) | $401M | $1.54B | $499M | $132M | $264M |
| Net Income (TTM) | $72M | $104M | $-229M | $-40M | $61M |
| Gross Margin | 59.9% | 62.6% | -0.0% | 47.3% | 78.5% |
| Operating Margin | 36.9% | 58.3% | -50.5% | -4.3% | 51.0% |
| Forward P/E | 8.9x | 12.0x | — | — | 8.1x |
| Total Debt | $4.25B | $16.16B | $5.86B | $1.17B | $3.29B |
| Cash & Equiv. | $167M | $453M | $248M | $66M | $88M |
FBRT vs BXMT vs RC vs GPMT vs TRTX — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | Oct 21 | May 26 | Return |
|---|---|---|---|
| Franklin BSP Realty… (FBRT) | 100 | 55.1 | -44.9% |
| Blackstone Mortgage… (BXMT) | 100 | 58.2 | -41.8% |
| Ready Capital Corpo… (RC) | 100 | 14.0 | -86.0% |
| Granite Point Mortg… (GPMT) | 100 | 11.6 | -88.4% |
| TPG RE Finance Trus… (TRTX) | 100 | 65.0 | -35.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: FBRT vs BXMT vs RC vs GPMT vs TRTX
Each card shows where this stock fits in a portfolio — not just who wins on paper.
FBRT ranks third and is worth considering specifically for income & stability and sleep-well-at-night.
- Dividend streak 0 yrs, beta 0.74, yield 18.7%
- Lower volatility, beta 0.74, current ratio 18.43x
- Beta 0.74, yield 18.7%, current ratio 18.43x
- Beta 0.74 vs GPMT's 1.44
BXMT is the clearest fit if your priority is long-term compounding.
- 50.5% 10Y total return vs TRTX's -1.9%
RC is the #2 pick in this set and the best alternative if growth and dividends is your priority.
- 17.3% FFO/revenue growth vs FBRT's -100.0%
- 31.4% yield, vs TRTX's 13.5%
GPMT is the clearest fit if your priority is growth exposure.
- Rev growth 187.8%, EPS growth 73.7%, 3Y rev CAGR 22.9%
TRTX carries the broadest edge in this set and is the clearest fit for value and quality.
- Better valuation composite
- 23.2% margin vs RC's -45.8%
- +25.7% vs RC's -44.9%
- 1.4% ROA vs RC's -2.6%, ROIC 4.7% vs 1.2%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 17.3% FFO/revenue growth vs FBRT's -100.0% | |
| Value | Better valuation composite | |
| Quality / Margins | 23.2% margin vs RC's -45.8% | |
| Stability / Safety | Beta 0.74 vs GPMT's 1.44 | |
| Dividends | 31.4% yield, vs TRTX's 13.5% | |
| Momentum (1Y) | +25.7% vs RC's -44.9% | |
| Efficiency (ROA) | 1.4% ROA vs RC's -2.6%, ROIC 4.7% vs 1.2% |
FBRT vs BXMT vs RC vs GPMT vs TRTX — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
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FBRT vs BXMT vs RC vs GPMT vs TRTX — Financial Metrics
Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
TRTX leads in 3 of 6 categories
FBRT leads 0 • BXMT leads 0 • RC leads 0 • GPMT leads 0 • 3 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
TRTX leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
BXMT is the larger business by revenue, generating $1.5B annually — 11.7x GPMT's $132M. TRTX is the more profitable business, keeping 23.2% of every revenue dollar as net income compared to RC's -45.8%. On growth, RC holds the edge at +8.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | |||||
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $401M | $1.5B | $499M | $132M | $264M |
| EBITDAEarnings before interest/tax | $159M | $948M | -$249M | -$8M | $144M |
| Net IncomeAfter-tax profit | $72M | $104M | -$229M | -$40M | $61M |
| Free Cash FlowCash after capex | $121M | $335M | $303M | $463,000 | $96M |
| Gross MarginGross profit ÷ Revenue | +59.9% | +62.6% | -0.0% | +47.3% | +78.5% |
| Operating MarginEBIT ÷ Revenue | +36.9% | +58.3% | -50.5% | -4.3% | +51.0% |
| Net MarginNet income ÷ Revenue | +17.9% | +6.7% | -45.8% | -30.5% | +23.2% |
| FCF MarginFCF ÷ Revenue | +30.3% | +21.8% | +60.6% | +0.4% | +36.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | +4.0% | +8.7% | +157.8% | -4.4% |
| EPS Growth (YoY)Latest quarter vs prior year | -65.0% | — | +24.9% | +40.9% | +58.3% |
Valuation Metrics
Evenly matched — GPMT and TRTX each lead in 2 of 6 comparable metrics.
Valuation Metrics
At 14.1x trailing earnings, FBRT trades at a 53% valuation discount to BXMT's 29.9x P/E. On an enterprise value basis, TRTX's 15.1x EV/EBITDA is more attractive than FBRT's 49.0x.
| Metric | |||||
|---|---|---|---|---|---|
| Market CapShares × price | $696M | $3.2B | $357M | $74M | $656M |
| Enterprise ValueMkt cap + debt − cash | $4.8B | $18.9B | $6.0B | $1.2B | $3.9B |
| Trailing P/EPrice ÷ TTM EPS | 14.13x | 29.92x | -1.50x | -1.34x | 14.89x |
| Forward P/EPrice ÷ next-FY EPS est. | 8.93x | 11.98x | — | — | 8.09x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — | — |
| EV / EBITDAEnterprise value multiple | 48.98x | 16.35x | 48.25x | 20.75x | 15.10x |
| Price / SalesMarket cap ÷ Revenue | — | 2.12x | 0.71x | 0.51x | 1.97x |
| Price / BookPrice ÷ Book value/share | 0.51x | 0.93x | 0.22x | 0.13x | 0.63x |
| Price / FCFMarket cap ÷ FCF | 2.38x | 11.71x | — | 27.85x | 7.26x |
Profitability & Efficiency
TRTX leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
TRTX delivers a 5.7% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $-12 for RC. GPMT carries lower financial leverage with a 2.12x debt-to-equity ratio, signaling a more conservative balance sheet compared to BXMT's 4.61x. On the Piotroski fundamental quality scale (0–9), FBRT scores 6/9 vs RC's 5/9, reflecting solid financial health.
| Metric | |||||
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +4.7% | +2.9% | -12.2% | -7.1% | +5.7% |
| ROA (TTM)Return on assets | +1.2% | +0.5% | -2.6% | -2.3% | +1.4% |
| ROICReturn on invested capital | +1.2% | +4.3% | +1.2% | +2.6% | +4.7% |
| ROCEReturn on capital employed | +1.5% | +11.3% | +1.4% | +4.6% | +7.1% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 6 | 5 | 6 | 6 |
| Debt / EquityFinancial leverage | 2.78x | 4.61x | 3.55x | 2.12x | 3.08x |
| Net DebtTotal debt minus cash | $4.1B | $15.7B | $5.6B | $1.1B | $3.2B |
| Cash & Equiv.Liquid assets | $167M | $453M | $248M | $66M | $88M |
| Total DebtShort + long-term debt | $4.3B | $16.2B | $5.9B | $1.2B | $3.3B |
| Interest CoverageEBIT ÷ Interest expense | — | 1.11x | 0.41x | 0.58x | 1.32x |
Total Returns (Dividends Reinvested)
TRTX leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in TRTX five years ago would be worth $10,145 today (with dividends reinvested), compared to $3,472 for GPMT. Over the past 12 months, TRTX leads with a +25.7% total return vs RC's -44.9%. The 3-year compound annual growth rate (CAGR) favors TRTX at 26.7% vs RC's -23.1% — a key indicator of consistent wealth creation.
| Metric | |||||
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | -8.6% | +0.7% | +1.4% | -32.5% | -1.0% |
| 1-Year ReturnPast 12 months | -7.0% | +12.1% | -44.9% | -19.7% | +25.7% |
| 3-Year ReturnCumulative with dividends | +2.3% | +48.1% | -54.4% | -34.3% | +103.4% |
| 5-Year ReturnCumulative with dividends | -11.1% | -4.1% | -44.4% | -65.3% | +1.4% |
| 10-Year ReturnCumulative with dividends | -11.1% | +50.5% | +6.1% | -50.0% | -1.9% |
| CAGR (3Y)Annualised 3-year return | +0.8% | +14.0% | -23.1% | -13.1% | +26.7% |
Risk & Volatility
Evenly matched — FBRT and BXMT each lead in 1 of 2 comparable metrics.
Risk & Volatility
FBRT is the less volatile stock with a 0.74 beta — it tends to amplify market swings less than GPMT's 1.44 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. BXMT currently trades 92.6% from its 52-week high vs RC's 45.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | |||||
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.74x | 0.74x | 1.17x | 1.44x | 0.78x |
| 52-Week HighHighest price in past year | $11.84 | $20.67 | $4.75 | $3.12 | $9.85 |
| 52-Week LowLowest price in past year | $8.24 | $17.67 | $1.51 | $1.24 | $7.44 |
| % of 52W HighCurrent price vs 52-week peak | +76.4% | +92.6% | +45.5% | +49.7% | +86.2% |
| RSI (14)Momentum oscillator 0–100 | 55.3 | 47.5 | 64.1 | 49.4 | 60.6 |
| Avg Volume (50D)Average daily shares traded | 918K | 1.4M | 2.1M | 154K | 655K |
Analyst Outlook
Evenly matched — RC and TRTX each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: FBRT as "Buy", BXMT as "Hold", RC as "Buy", GPMT as "Hold", TRTX as "Buy". Consensus price targets imply 69.6% upside for FBRT (target: $15) vs 15.7% for RC (target: $3). For income investors, RC offers the higher dividend yield at 31.37% vs BXMT's 9.86%.
| Metric | |||||
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold | Buy | Hold | Buy |
| Price TargetConsensus 12-month target | $15.33 | — | $2.50 | $2.50 | $10.00 |
| # AnalystsCovering analysts | 4 | 18 | 16 | 12 | 11 |
| Dividend YieldAnnual dividend ÷ price | +18.7% | +9.9% | +31.4% | +14.0% | +13.5% |
| Dividend StreakConsecutive years of raises | 0 | 0 | 0 | 0 | 2 |
| Dividend / ShareAnnual DPS | $1.69 | $1.89 | $0.68 | $0.22 | $1.15 |
| Buyback YieldShare repurchases ÷ mkt cap | +2.1% | +3.4% | +18.9% | +7.6% | +3.9% |
TRTX leads in 3 of 6 categories — strongest in Income & Cash Flow and Profitability & Efficiency. 3 categories are tied.
FBRT vs BXMT vs RC vs GPMT vs TRTX: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is FBRT or BXMT or RC or GPMT or TRTX a better buy right now?
For growth investors, Ready Capital Corporation (RC) is the stronger pick with 1726% revenue growth year-over-year, versus -100.
0% for Franklin BSP Realty Trust, Inc. (FBRT). Franklin BSP Realty Trust, Inc. (FBRT) offers the better valuation at 14. 1x trailing P/E (8. 9x forward), making it the more compelling value choice. Analysts rate Franklin BSP Realty Trust, Inc. (FBRT) a "Buy" — based on 4 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.
02Which has the better valuation — FBRT or BXMT or RC or GPMT or TRTX?
On trailing P/E, Franklin BSP Realty Trust, Inc.
(FBRT) is the cheapest at 14. 1x 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.
03Which is the better long-term investment — FBRT or BXMT or RC or GPMT or TRTX?
Over the past 5 years, TPG RE Finance Trust, Inc.
(TRTX) delivered a total return of +1. 4%, compared to -65. 3% for Granite Point Mortgage Trust Inc. (GPMT). Over 10 years, the gap is even starker: BXMT returned +50. 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.
04Which is safer — FBRT or BXMT or RC or GPMT or TRTX?
By beta (market sensitivity over 5 years), Franklin BSP Realty Trust, Inc.
(FBRT) is the lower-risk stock at 0. 74β versus Granite Point Mortgage Trust Inc. 's 1. 44β — meaning GPMT is approximately 96% more volatile than FBRT 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.
05Which is growing faster — FBRT or BXMT or RC or GPMT or TRTX?
By revenue growth (latest reported year), Ready Capital Corporation (RC) is pulling ahead at 1726% versus -100.
0% for Franklin BSP Realty Trust, Inc. (FBRT). On earnings-per-share growth, the picture is similar: Blackstone Mortgage Trust, Inc. grew EPS 154. 7% year-over-year, compared to -26. 0% for TPG RE 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.
06Which has better profit margins — FBRT or BXMT or RC or GPMT or TRTX?
TPG RE Finance Trust, Inc.
(TRTX) is the more profitable company, earning 18. 1% net margin versus -45. 8% for Ready Capital Corporation — 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 24. 2% for RC. At the gross margin level — before operating expenses — RC leads at 87. 7%, 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.
07Is FBRT or BXMT or RC or GPMT or TRTX more undervalued right now?
On forward earnings alone, TPG RE Finance Trust, Inc.
(TRTX) trades at 8. 1x forward P/E versus 12. 0x for Blackstone Mortgage Trust, Inc. — 3. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FBRT: 69. 6% to $15. 33.
08Which pays a better dividend — FBRT or BXMT or RC or GPMT or TRTX?
All stocks in this comparison pay dividends.
Ready Capital Corporation (RC) offers the highest yield at 31. 4%, versus 9. 9% for Blackstone Mortgage Trust, Inc. (BXMT).
09Is FBRT or BXMT or RC or GPMT or TRTX better for a retirement portfolio?
For long-horizon retirement investors, Blackstone Mortgage Trust, Inc.
(BXMT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 74), 9. 9% yield). Both have compounded well over 10 years (BXMT: +50. 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.
10What are the main differences between FBRT and BXMT and RC and GPMT and TRTX?
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: FBRT is a small-cap deep-value stock; BXMT is a small-cap income-oriented stock; RC is a small-cap high-growth stock; GPMT is a small-cap high-growth stock; TRTX 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.
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