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TRTXTPG RE Finance Trust, Inc.
$7.19$524M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
TRTX logo

TPG RE Finance Trust, Inc.

TRTX
NYSE · Mortgage REITs
$7.19
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$552M
P/E12.6x
52W High$9.37
Volume629.8K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Portfolio Runoff and Leverage Escalation Threaten Dividend Sustainability

TRTX appears to be in a structural wind-down phase, evidenced by an 87.4% quarter-over-quarter revenue collapse in 2026Q2, which suggests significant loan payoffs or asset sales without adequate redeployment. The company's financial position is deteriorating, ...

GrowthDecelerating
ProfitabilityModerate
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

TRTX price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

3/12 Beats

EPS beat 3 of last 12 quarters

02

Valuation risk

-32% Peers

P/E is 32% below peer median

03

Market leadership

RS 25 · Lag

Laggard (Underperforming 75% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 28

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
TRTX-13.04%
S&P 500 (^GSPC)+13.20%
1-Year Return
TRTX-10.14%
S&P 500 (^GSPC)+15.98%
3-Year Return
TRTX+41.04%
S&P 500 (^GSPC)+76.32%
5-Year Return
TRTX-5.19%
S&P 500 (^GSPC)+74.53%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
12.0x
Forward P/EExpansion
6.8x
EV/EBITDA20th %ile
14.6x
FCF YieldCash Flow
16.1%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
12.0x
14.2x
33rd· Fair
EV/EBITDA
14.6x
19.8x
20th· Low
Price/FCF
6.2x
6.7x
20th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue
$333M-5.2% YoY
Net income
$60M-18.9% YoY
Free cash flow
$84M-21.1% YoY
Operating margin
73%-5.7 pts YoY
ROIC (TTM)4.7%
Avg ROIC 5Y-
ROE (TTM)5.5%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate3/12 (25%)
Revenue Beat Rate7/12 (58%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 28, 2026
$0.23-10.1%
vs $0.26
$34M-8.9%
vs $37M
Q2 2026
Apr 28, 2026
$0.25+0.0%
vs $0.25
$37M+0.4%
vs $37M
Q1 2026
Feb 17, 2026
$0.24-11.1%
vs $0.27
$35M-5.3%
vs $37M
Q4 2025
Oct 28, 2025
$0.25-3.8%
vs $0.26
$87M+219.2%
vs $27M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·Sep 16, 2026
25 Dividend Buys You May Want To Hold Forever From September's Russell Index

The top ten SML Russell MHFS dogs are forecasted to deliver average net gains of 40.06% by September 2027, with yields up to 22.18%. All top-ten yielders are ideally priced, with annual dividends from $1K invested exceeding single share prices, meeting the 'dividend dog' standard. Fifteen of fifty-one SML Russell MHFS stocks show negative free cash flow margins, making their dividends less secure and riskier for income-focused investors.

Business Wire·Sep 15, 2026
TPG RE Finance Trust, Inc. Announces Pricing of $1.0 Billion Commercial Real Estate CLO

NEW YORK--(BUSINESS WIRE)--TPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) today announced the pricing of TRTX 2026-FL8, a $1.0 billion managed Commercial Real Estate Collateralized Loan Obligation. The Company expects approximately $820.0 million of investment grade securities to be placed with institutional investors, providing TRTX with term financing on a non-mark-to-market, non-recourse basis. TRTX 2026-FL8 includes a 30-month reinvestment period and a weighted average int.

Business Wire·Sep 8, 2026
TPG RE Finance Trust, Inc. Declares Cash Dividend on Series C Cumulative Redeemable Preferred Stock

NEW YORK--(BUSINESS WIRE)--TPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) today announced the Company's Board of Directors declared a cash dividend of $0.3906 per share of 6.25% Series C Cumulative Redeemable Preferred Stock (the “Series C Preferred Stock”) for the third quarter of 2026. The Series C Preferred Stock dividend is payable on September 30, 2026 to preferred stockholders of record as of September 18, 2026. ABOUT TRTX TRTX is a commercial real estate finance compan.

Seeking Alpha·Aug 27, 2026
18 LoPrice/HiYield DiviDogs Rated Buys For August

This collection of 37 Dogcatcher LoPrice/HiYield Dogs was found by screening the Russell 3000 list for dividends yielding between 5% and 25%. Here are top-yield small to large-cap stocks priced between $5 and $65 per-share showing hight yields over the past five (or more) years. “To find the best stocks to Buy -now, search for stocks of companies with consistent-profits, good cash-flow and other-indicators that reflect -quality.”--Kiplinger.com/Investing.

Filtered for TPG RE Finance Trust, Inc.More Headlines
04

Compare before deciding

Benchmark TRTX against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for TPG RE Finance Trust, Inc. (TRTX)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
TRTX logoTRTXTPG RE Finance Trust, Inc.Current
$7.19$551.97M12.61-5.23%18.14%5.53%13.74%
BXMT logoBXMTBlackstone Mortgage Trust, Inc.
$13.14$2.22B20.53-13.96%1.19%0.45%—
KREF logoKREFKKR Real Estate Finance Trust Inc.
$6.62$425.67M-6.30-22.72%-44.66%-15.91%—
ACRE logoACREAres Commercial Real Estate Corporation
$4.45$246.89M-271.3422.54%-4.51%-0.88%—
RC logoRCReady Capital Corporation
$1.66$274.26M-1.151725.96%-135.95%-35.22%—
GPMT logoGPMTGranite Point Mortgage Trust Inc.
$0.85$40.62M-0.73187.77%-69.23%-15.79%—

Compare TRTX vs Peers

TPG RE Finance Trust, Inc. (TRTX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BXMT

Most directly comparable listed peer for TRTX.

Scale Benchmark

vs MS

Larger-name benchmark to compare TRTX against a more recognizable public peer.

Peer Set

Compare Top 5

vs BXMT, KREF, ACRE, RC

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

TRTX SEC Filings & Documents

TPG RE Finance Trust, Inc. (TRTX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 28, 2026·SEC

Material company update

Jun 1, 2026·SEC

Material company update

May 21, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 17, 2026·SEC

FY 2025

Feb 18, 2025·SEC

FY 2024

Feb 20, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Jul 28, 2026·SEC

FY 2026

Apr 28, 2026·SEC

FY 2025

Oct 28, 2025·SEC

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TRTX Frequently Asked Questions

TPG RE Finance Trust, Inc. (TRTX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is TPG RE Finance Trust, Inc.'s revenue?

TPG RE Finance Trust, Inc. (TRTX) reported $266.8M in revenue for fiscal year 2025. This represents a 107% increase from $128.7M in 2015.

How fast is TPG RE Finance Trust, Inc. growing?

TPG RE Finance Trust, Inc. (TRTX) saw revenue decline by 5.2% over the past year.

Is TRTX profitable?

Yes, TPG RE Finance Trust, Inc. (TRTX) is profitable, generating $58.0M in net income for fiscal year 2025 (18.1% net margin).

Dividend & Returns
Does TRTX pay dividends?

Yes, TPG RE Finance Trust, Inc. (TRTX) pays a dividend with a yield of 13.74%. This makes it attractive for income-focused investors.

What is TRTX's return on equity?

TPG RE Finance Trust, Inc. (TRTX) has a return on equity (ROE) of 5.5%. This is below average, suggesting room for improvement.

Industry Metrics
What is TPG RE Finance Trust, Inc.'s FFO?

TPG RE Finance Trust, Inc. (TRTX) generated Funds From Operations (FFO) of $68.5M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is TRTX a good dividend stock?

TPG RE Finance Trust, Inc. (TRTX) offers a 13.74% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in TRTX back in 2015?

Total return calculator · dividends reinvested · 11+ years of data

See returns →