TRTX
TPG RE Finance Trust, Inc.
REIT - Mortgage
Market Cap$664M
5Y Perf.+15.9%
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Stock Comparison
TRTX vs WELL
Revenue, margins, valuation, and 5-year total return — side by side.
WELL
Welltower Inc.
REIT - Healthcare Facilities
Market Cap$151.66B
5Y Perf.+327.2%
TRTX vs WELL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | TRTX | WELL |
|---|---|---|
| Industry | REIT - Mortgage | REIT - Healthcare Facilities |
| Market Cap | $664M | $151.66B |
| Revenue (TTM) | $264M | $11.63B |
| Net Income (TTM) | $61M | $1.43B |
| Gross Margin | 78.5% | 39.1% |
| Operating Margin | 51.0% | 4.4% |
| Forward P/E | 8.2x | 79.7x |
| Total Debt | $3.29B | $21.38B |
| Cash & Equiv. | $88M | $5.03B |
TRTX vs WELL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
TRTX
WELL
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| TPG RE Finance Trus… (TRTX) | 100 | 115.9 | +15.9% |
| Welltower Inc. (WELL) | 100 | 427.2 | +327.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: TRTX vs WELL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: TRTX leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Welltower Inc. is the stronger pick specifically for capital preservation and lower volatility and recent price momentum and sentiment. As sector peers, any of these can serve as alternatives in the same allocation.
TRTX
TPG RE Finance Trust, Inc.
The Real Estate Income Play
TRTX carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 2 yrs, beta 0.78, yield 13.3%
- Rev growth 123.3%, EPS growth -26.0%, 3Y rev CAGR 2.8%
- 123.3% FFO/revenue growth vs WELL's 35.8%
Best for: income & stability and growth exposure
WELL
Welltower Inc.
The Real Estate Income Play
WELL is the clearest fit if your priority is long-term compounding and sleep-well-at-night.
- 233.9% 10Y total return vs TRTX's -1.4%
- Lower volatility, beta 0.13, Low D/E 49.5%, current ratio 5.34x
- Beta 0.13, yield 1.3%, current ratio 5.34x
Best for: long-term compounding and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | TRTX | 123.3% FFO/revenue growth vs WELL's 35.8% |
| Value | TRTX | Lower P/E (8.2x vs 79.7x) |
| Quality / Margins | TRTX | 23.2% margin vs WELL's 12.3% |
| Stability / Safety | WELL | Beta 0.13 vs TRTX's 0.78, lower leverage |
| Dividends | TRTX | 13.3% yield, 2-year raise streak, vs WELL's 1.3% |
| Momentum (1Y) | WELL | +45.8% vs TRTX's +27.8% |
| Efficiency (ROA) | WELL | 2.3% ROA vs TRTX's 1.4%, ROIC 0.5% vs 4.7% |
TRTX vs WELL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FY 2025
TRTX vs WELL — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLTRTXLAGGINGWELL
WELLWelltower Inc.
2leads
TRTXTPG RE Finance Trust,…
4leads
6 Total Categories
CATEGORYLEADERvs WELLMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
TRTX5/6
Valuation MetricsMultiples, price ratios, and targets
TRTX6/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
TRTX6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
WELL6/6
Risk & VolatilityBeta, volatility, and downside exposure
WELL2/2
Analyst OutlookRatings, price targets, and dividends
TRTX1/1
Income & Cash Flow (Last 12 Months)
TRTX leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
WELL is the larger business by revenue, generating $11.6B annually — 44.0x TRTX's $264M. TRTX is the more profitable business, keeping 23.2% of every revenue dollar as net income compared to WELL's 12.3%. On growth, WELL holds the edge at +40.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | TRTXTPG RE Finance Tr… | WELLWelltower Inc. |
|---|---|---|
| RevenueTrailing 12 months | $264M | $11.6B |
| EBITDAEarnings before interest/tax | $144M | $2.8B |
| Net IncomeAfter-tax profit | $61M | $1.4B |
| Free Cash FlowCash after capex | $96M | $2.5B |
| Gross MarginGross profit ÷ Revenue | +78.5% | +39.1% |
| Operating MarginEBIT ÷ Revenue | +51.0% | +4.4% |
| Net MarginNet income ÷ Revenue | +23.2% | +12.3% |
| FCF MarginFCF ÷ Revenue | +36.4% | +21.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | -4.4% | +40.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +58.3% | +22.5% |
TRTX leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
TRTX leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
At 15.1x trailing earnings, TRTX trades at a 90% valuation discount to WELL's 155.7x P/E. On an enterprise value basis, TRTX's 15.1x EV/EBITDA is more attractive than WELL's 67.4x.
| Metric | TRTXTPG RE Finance Tr… | WELLWelltower Inc. |
|---|---|---|
| Market CapShares × price | $664M | $151.7B |
| Enterprise ValueMkt cap + debt − cash | $3.9B | $168.0B |
| Trailing P/EPrice ÷ TTM EPS | 15.07x | 155.73x |
| Forward P/EPrice ÷ next-FY EPS est. | 8.18x | 79.69x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 15.13x | 67.37x |
| Price / SalesMarket cap ÷ Revenue | 2.00x | 14.22x |
| Price / BookPrice ÷ Book value/share | 0.64x | 3.40x |
| Price / FCFMarket cap ÷ FCF | 7.35x | 53.25x |
TRTX leads this category, winning 6 of 6 comparable metrics.
Profitability & Efficiency
TRTX leads this category, winning 6 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 $3 for WELL. WELL carries lower financial leverage with a 0.49x debt-to-equity ratio, signaling a more conservative balance sheet compared to TRTX's 3.08x. On the Piotroski fundamental quality scale (0–9), WELL scores 7/9 vs TRTX's 6/9, reflecting strong financial health.
| Metric | TRTXTPG RE Finance Tr… | WELLWelltower Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +5.7% | +3.5% |
| ROA (TTM)Return on assets | +1.4% | +2.3% |
| ROICReturn on invested capital | +4.7% | +0.5% |
| ROCEReturn on capital employed | +7.1% | +0.6% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | 3.08x | 0.49x |
| Net DebtTotal debt minus cash | $3.2B | $16.3B |
| Cash & Equiv.Liquid assets | $88M | $5.0B |
| Total DebtShort + long-term debt | $3.3B | $21.4B |
| Interest CoverageEBIT ÷ Interest expense | 1.32x | 0.26x |
TRTX leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
WELL leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in WELL five years ago would be worth $31,193 today (with dividends reinvested), compared to $10,323 for TRTX. Over the past 12 months, WELL leads with a +45.8% total return vs TRTX's +27.8%. The 3-year compound annual growth rate (CAGR) favors WELL at 43.3% vs TRTX's 27.1% — a key indicator of consistent wealth creation.
| Metric | TRTXTPG RE Finance Tr… | WELLWelltower Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +0.1% | +16.2% |
| 1-Year ReturnPast 12 months | +27.8% | +45.8% |
| 3-Year ReturnCumulative with dividends | +105.2% | +194.0% |
| 5-Year ReturnCumulative with dividends | +3.2% | +211.9% |
| 10-Year ReturnCumulative with dividends | -1.4% | +233.9% |
| CAGR (3Y)Annualised 3-year return | +27.1% | +43.3% |
WELL leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
WELL leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
WELL is the less volatile stock with a 0.13 beta — it tends to amplify market swings less than TRTX's 0.78 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. WELL currently trades 98.6% from its 52-week high vs TRTX's 87.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | TRTXTPG RE Finance Tr… | WELLWelltower Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.78x | 0.13x |
| 52-Week HighHighest price in past year | $9.85 | $219.59 |
| 52-Week LowLowest price in past year | $7.44 | $142.65 |
| % of 52W HighCurrent price vs 52-week peak | +87.2% | +98.6% |
| RSI (14)Momentum oscillator 0–100 | 59.5 | 57.6 |
| Avg Volume (50D)Average daily shares traded | 663K | 2.6M |
WELL leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
TRTX leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates TRTX as "Buy" and WELL as "Buy". Consensus price targets imply 16.4% upside for TRTX (target: $10) vs 4.6% for WELL (target: $227). For income investors, TRTX offers the higher dividend yield at 13.35% vs WELL's 1.28%.
| Metric | TRTXTPG RE Finance Tr… | WELLWelltower Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $10.00 | $226.50 |
| # AnalystsCovering analysts | 11 | 34 |
| Dividend YieldAnnual dividend ÷ price | +13.3% | +1.3% |
| Dividend StreakConsecutive years of raises | 2 | 2 |
| Dividend / ShareAnnual DPS | $1.15 | $2.76 |
| Buyback YieldShare repurchases ÷ mkt cap | +3.8% | 0.0% |
TRTX leads this category, winning 1 of 1 comparable metric.
Key Takeaway
TRTX leads in 4 of 6 categories (Income & Cash Flow, Valuation Metrics). WELL leads in 2 (Total Returns, Risk & Volatility).
Best OverallTPG RE Finance Trust, Inc. (TRTX)Leads 4 of 6 categories
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TRTX vs WELL: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is TRTX or WELL a better buy right now?
For growth investors, TPG RE Finance Trust, Inc.
(TRTX) is the stronger pick with 123. 3% revenue growth year-over-year, versus 35. 8% for Welltower Inc. (WELL). TPG RE Finance Trust, Inc. (TRTX) offers the better valuation at 15. 1x trailing P/E (8. 2x forward), making it the more compelling value choice. Analysts rate TPG RE Finance Trust, Inc. (TRTX) a "Buy" — based on 11 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 — TRTX or WELL?
On trailing P/E, TPG RE Finance Trust, Inc.
(TRTX) is the cheapest at 15. 1x versus Welltower Inc. at 155. 7x. On forward P/E, TPG RE Finance Trust, Inc. is actually cheaper at 8. 2x.
03Which is the better long-term investment — TRTX or WELL?
Over the past 5 years, Welltower Inc.
(WELL) delivered a total return of +211. 9%, compared to +3. 2% for TPG RE Finance Trust, Inc. (TRTX). Over 10 years, the gap is even starker: WELL returned +233. 9% versus TRTX's -1. 4%. 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 — TRTX or WELL?
By beta (market sensitivity over 5 years), Welltower Inc.
(WELL) is the lower-risk stock at 0. 13β versus TPG RE Finance Trust, Inc. 's 0. 78β — meaning TRTX is approximately 490% more volatile than WELL relative to the S&P 500. On balance sheet safety, Welltower Inc. (WELL) carries a lower debt/equity ratio of 49% versus 3% for TPG RE Finance Trust, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — TRTX or WELL?
By revenue growth (latest reported year), TPG RE Finance Trust, Inc.
(TRTX) is pulling ahead at 123. 3% versus 35. 8% for Welltower Inc. (WELL). On earnings-per-share growth, the picture is similar: Welltower Inc. grew EPS -11. 5% year-over-year, compared to -26. 0% for TPG RE Finance Trust, Inc.. Over a 3-year CAGR, WELL leads at 22. 7% 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 — TRTX or WELL?
TPG RE Finance Trust, Inc.
(TRTX) is the more profitable company, earning 18. 1% net margin versus 8. 8% for Welltower 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 3. 3% for WELL. At the gross margin level — before operating expenses — TRTX leads at 79. 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.
07Is TRTX or WELL more undervalued right now?
On forward earnings alone, TPG RE Finance Trust, Inc.
(TRTX) trades at 8. 2x forward P/E versus 79. 7x for Welltower Inc. — 71. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TRTX: 16. 4% to $10. 00.
08Which pays a better dividend — TRTX or WELL?
All stocks in this comparison pay dividends.
TPG RE Finance Trust, Inc. (TRTX) offers the highest yield at 13. 3%, versus 1. 3% for Welltower Inc. (WELL).
09Is TRTX or WELL better for a retirement portfolio?
For long-horizon retirement investors, Welltower Inc.
(WELL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 13), 1. 3% yield, +233. 9% 10Y return). Both have compounded well over 10 years (WELL: +233. 9%, TRTX: -1. 4%), 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 TRTX and WELL?
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.
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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Revenue Growth>
%
(TRTX: -4.4% · WELL: 40.3%)Net Margin>
%
(TRTX: 23.2% · WELL: 12.3%)P/E Ratio<
x
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