(TRTX) TPG RE Finance Trust - Overview
Exchange: NYSE •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US87266M1071
Stock: Commercial Mortgage Loans, Mezzanine Debt, Secured Securities, Preferred Equity
Total Rating 43
Risk 39
Buy Signal -0.62
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 11.62% |
| Yield on Cost 5y | 16.64% |
| Yield CAGR 5y | 0.26% |
| Payout Consistency | 93.4% |
| Payout Ratio | 115.7% |
| Risk 5d forecast | |
|---|---|
| Volatility | 21.4% |
| Relative Tail Risk | -2.61% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.72 |
| Alpha | 9.82 |
| Character TTM | |
|---|---|
| Beta | 0.629 |
| Beta Downside | 0.689 |
| Drawdowns 3y | |
|---|---|
| Max DD | 38.38% |
| CAGR/Max DD | 0.35 |
Description: TRTX TPG RE Finance Trust December 26, 2025
TPG RE Finance Trust, Inc. (TRTX) is a U.S.-based real estate investment trust that originates, acquires, and manages a diversified portfolio of commercial mortgage loans and related debt instruments across sectors such as multifamily, life-science, mixed-use, hospitality, self-storage, and industrial properties.
Key operating metrics as of Q3 2024 show a loan portfolio of roughly $5.2 billion with a weighted-average loan-to-value (LTV) of 62%, a dividend yield near 6.5%, and a net asset value (NAV) per share of about $19.5. The REIT’s performance is closely tied to Federal Reserve policy-rising rates increase borrowing costs and can pressure loan-interest spreads-while sector-specific trends such as tightening multifamily vacancy rates (currently ~4.2% nationally) and sustained demand for life-science lab space (occupancy > 95%) act as tailwinds.
For a deeper dive into TRTX’s valuation metrics and scenario analysis, you may find ValueRay’s platform useful.
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income: 66.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.69 > 1.0 |
| NWC/Revenue: 93.04% < 20% (prev 135.3%; Δ -42.24% < -1%) |
| CFO/TA 0.02 > 3% & CFO 91.2m > Net Income 66.6m |
| Net Debt (2.84b) to EBITDA (197.7m): 14.36 < 3 |
| Current Ratio: 110.0 > 1.5 & < 3 |
| Outstanding Shares: last quarter (78.8m) vs 12m ago -3.14% < -2% |
| Gross Margin: 76.19% > 18% (prev 0.82%; Δ 7537 % > 0.5%) |
| Asset Turnover: 5.47% > 50% (prev 4.24%; Δ 1.22% > 0%) |
| Interest Coverage Ratio: 1.04 > 6 (EBITDA TTM 197.7m / Interest Expense TTM 181.8m) |
Altman Z'' -0.11
| A: 0.05 (Total Current Assets 198.2m - Total Current Liabilities 1.80m) / Total Assets 4.06b |
| B: -0.16 (Retained Earnings -653.7m / Total Assets 4.06b) |
| C: 0.05 (EBIT TTM 188.4m / Avg Total Assets 3.86b) |
| D: -0.22 (Book Value of Equity -653.7m / Total Liabilities 2.98b) |
| Altman-Z'' Score: -0.11 = B |
Beneish M -1.49
| DSRI: 2.46 (Receivables 104.6m/31.3m, Revenue 211.1m/155.4m) |
| GMI: 1.08 (GM 76.19% / 82.29%) |
| AQI: 1.01 (AQ_t 0.89 / AQ_t-1 0.88) |
| SGI: 1.36 (Revenue 211.1m / 155.4m) |
| TATA: -0.01 (NI 66.6m - CFO 91.2m) / TA 4.06b) |
| Beneish M-Score: -1.49 (Cap -4..+1) = D |
What is the price of TRTX shares?
As of February 02, 2026, the stock is trading at USD 9.03 with a total of 1,052,039 shares traded.
Over the past week, the price has changed by +0.56%, over one month by +2.38%, over three months by +5.99% and over the past year by +21.47%.
Over the past week, the price has changed by +0.56%, over one month by +2.38%, over three months by +5.99% and over the past year by +21.47%.
Is TRTX a buy, sell or hold?
TPG RE Finance Trust has received a consensus analysts rating of 4.00.
Therefore, it is recommended to buy TRTX.
- StrongBuy: 2
- Buy: 2
- Hold: 0
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the TRTX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 10.4 | 15.2% |
| Analysts Target Price | 10.4 | 15.2% |
| ValueRay Target Price | 10.5 | 16.6% |
TRTX Fundamental Data Overview January 27, 2026
P/E Trailing = 13.8
P/E Forward = 11.1111
P/S = 5.0866
P/B = 0.6485
Revenue TTM = 211.1m USD
EBIT TTM = 188.4m USD
EBITDA TTM = 197.7m USD
Long Term Debt = 2.93b USD (from longTermDebt, last quarter)
Short Term Debt = 742.6m USD (from shortTermDebt, last quarter)
Debt = 2.93b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.84b USD (from netDebt column, last quarter)
Enterprise Value = 3.54b USD (705.0m + Debt 2.93b - CCE 93.6m)
Interest Coverage Ratio = 1.04 (Ebit TTM 188.4m / Interest Expense TTM 181.8m)
EV/FCF = 40.89x (Enterprise Value 3.54b / FCF TTM 86.7m)
FCF Yield = 2.45% (FCF TTM 86.7m / Enterprise Value 3.54b)
FCF Margin = 41.06% (FCF TTM 86.7m / Revenue TTM 211.1m)
Net Margin = 31.56% (Net Income TTM 66.6m / Revenue TTM 211.1m)
Gross Margin = 76.19% ((Revenue TTM 211.1m - Cost of Revenue TTM 50.3m) / Revenue TTM)
Gross Margin QoQ = 83.64% (prev 80.61%)
Tobins Q-Ratio = 0.87 (Enterprise Value 3.54b / Total Assets 4.06b)
Interest Expense / Debt = 1.66% (Interest Expense 48.8m / Debt 2.93b)
Taxrate = 0.49% (109.0k / 22.1m)
NOPAT = 187.4m (EBIT 188.4m * (1 - 0.49%))
Current Ratio = 110.0 (out of range, set to none) (Total Current Assets 198.2m / Total Current Liabilities 1.80m)
Debt / Equity = 2.71 (Debt 2.93b / totalStockholderEquity, last quarter 1.08b)
Debt / EBITDA = 14.36 (Net Debt 2.84b / EBITDA 197.7m)
Debt / FCF = 32.75 (Net Debt 2.84b / FCF TTM 86.7m)
Total Stockholder Equity = 1.10b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.72% (Net Income 66.6m / Total Assets 4.06b)
RoE = 6.07% (Net Income TTM 66.6m / Total Stockholder Equity 1.10b)
RoCE = 4.67% (EBIT 188.4m / Capital Employed (Equity 1.10b + L.T.Debt 2.93b))
RoIC = 4.77% (NOPAT 187.4m / Invested Capital 3.93b)
WACC = 2.93% (E(705.0m)/V(3.64b) * Re(8.23%) + D(2.93b)/V(3.64b) * Rd(1.66%) * (1-Tc(0.00)))
Discount Rate = 8.23% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.69%
[DCF Debug] Terminal Value 84.80% ; FCFF base≈93.4m ; Y1≈81.1m ; Y5≈64.8m
Fair Price DCF = N/A (negative equity: EV 1.97b - Net Debt 2.84b = -872.8m; debt exceeds intrinsic value)
EPS Correlation: 4.99 | EPS CAGR: -2.99% | SUE: -0.39 | # QB: 0
Revenue Correlation: -15.88 | Revenue CAGR: 13.55% | SUE: 1.20 | # QB: 2
EPS next Quarter (2026-03-31): EPS=0.26 | Chg30d=-0.009 | Revisions Net=-2 | Analysts=5
EPS next Year (2026-12-31): EPS=1.11 | Chg30d=-0.003 | Revisions Net=+1 | Growth EPS=+13.1% | Growth Revenue=+10.8%
P/E Forward = 11.1111
P/S = 5.0866
P/B = 0.6485
Revenue TTM = 211.1m USD
EBIT TTM = 188.4m USD
EBITDA TTM = 197.7m USD
Long Term Debt = 2.93b USD (from longTermDebt, last quarter)
Short Term Debt = 742.6m USD (from shortTermDebt, last quarter)
Debt = 2.93b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.84b USD (from netDebt column, last quarter)
Enterprise Value = 3.54b USD (705.0m + Debt 2.93b - CCE 93.6m)
Interest Coverage Ratio = 1.04 (Ebit TTM 188.4m / Interest Expense TTM 181.8m)
EV/FCF = 40.89x (Enterprise Value 3.54b / FCF TTM 86.7m)
FCF Yield = 2.45% (FCF TTM 86.7m / Enterprise Value 3.54b)
FCF Margin = 41.06% (FCF TTM 86.7m / Revenue TTM 211.1m)
Net Margin = 31.56% (Net Income TTM 66.6m / Revenue TTM 211.1m)
Gross Margin = 76.19% ((Revenue TTM 211.1m - Cost of Revenue TTM 50.3m) / Revenue TTM)
Gross Margin QoQ = 83.64% (prev 80.61%)
Tobins Q-Ratio = 0.87 (Enterprise Value 3.54b / Total Assets 4.06b)
Interest Expense / Debt = 1.66% (Interest Expense 48.8m / Debt 2.93b)
Taxrate = 0.49% (109.0k / 22.1m)
NOPAT = 187.4m (EBIT 188.4m * (1 - 0.49%))
Current Ratio = 110.0 (out of range, set to none) (Total Current Assets 198.2m / Total Current Liabilities 1.80m)
Debt / Equity = 2.71 (Debt 2.93b / totalStockholderEquity, last quarter 1.08b)
Debt / EBITDA = 14.36 (Net Debt 2.84b / EBITDA 197.7m)
Debt / FCF = 32.75 (Net Debt 2.84b / FCF TTM 86.7m)
Total Stockholder Equity = 1.10b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.72% (Net Income 66.6m / Total Assets 4.06b)
RoE = 6.07% (Net Income TTM 66.6m / Total Stockholder Equity 1.10b)
RoCE = 4.67% (EBIT 188.4m / Capital Employed (Equity 1.10b + L.T.Debt 2.93b))
RoIC = 4.77% (NOPAT 187.4m / Invested Capital 3.93b)
WACC = 2.93% (E(705.0m)/V(3.64b) * Re(8.23%) + D(2.93b)/V(3.64b) * Rd(1.66%) * (1-Tc(0.00)))
Discount Rate = 8.23% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.69%
[DCF Debug] Terminal Value 84.80% ; FCFF base≈93.4m ; Y1≈81.1m ; Y5≈64.8m
Fair Price DCF = N/A (negative equity: EV 1.97b - Net Debt 2.84b = -872.8m; debt exceeds intrinsic value)
EPS Correlation: 4.99 | EPS CAGR: -2.99% | SUE: -0.39 | # QB: 0
Revenue Correlation: -15.88 | Revenue CAGR: 13.55% | SUE: 1.20 | # QB: 2
EPS next Quarter (2026-03-31): EPS=0.26 | Chg30d=-0.009 | Revisions Net=-2 | Analysts=5
EPS next Year (2026-12-31): EPS=1.11 | Chg30d=-0.003 | Revisions Net=+1 | Growth EPS=+13.1% | Growth Revenue=+10.8%