(TRTX) TPG RE Finance Trust - Ratings and Ratios
Mortgage, Mezzanine, Securities, Equity, CMBS, CLO
Dividends
| Dividend Yield | 10.55% |
| Yield on Cost 5y | 15.56% |
| Yield CAGR 5y | -12.53% |
| Payout Consistency | 93.2% |
| Payout Ratio | 115.7% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 19.9% |
| Value at Risk 5%th | 32.0% |
| Relative Tail Risk | -2.31% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.44 |
| Alpha | 2.84 |
| CAGR/Max DD | 0.51 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.414 |
| Beta | 0.645 |
| Beta Downside | 0.768 |
| Drawdowns 3y | |
|---|---|
| Max DD | 38.38% |
| Mean DD | 10.57% |
| Median DD | 8.05% |
Description: TRTX TPG RE Finance Trust October 23, 2025
TPG RE Finance Trust Inc. (NYSE: TRTX) is a Mortgage REIT that originates, acquires, and manages a diversified portfolio of U.S. commercial mortgage loans and related debt instruments. Its investments span senior and subordinate mortgage loans, mezzanine financing, secured real-estate securities, preferred equity, and structured products such as CRE-CLOs and CMBS, with a concentration in multifamily, life-science, mixed-use, hospitality, self-storage, and industrial properties. Because it qualifies as a REIT, the company avoids federal corporate income tax provided it distributes at least 90 % of taxable income to shareholders.
As of the most recent quarterly filing (Q3 2024), TRTX reported a loan portfolio of roughly $5.5 billion, a weighted-average coupon of 5.2 %, and an average loan-to-value ratio near 65 %. The dividend yield has hovered around 8 %, reflecting the REIT’s high-distribution policy, while net interest margin is sensitive to Federal Reserve rate movements-an important macro driver for both loan origination volumes and the spread on existing assets. Additionally, the life-science and multifamily sectors have shown resilience in the current low-vacancy environment, supporting credit quality and cash-flow stability.
If you want a deeper, data-driven view of TRTX’s risk-adjusted performance and how its exposure to interest-rate cycles compares to peers, a quick look at ValueRay’s analyst dashboard can help you identify any hidden valuation gaps.
Piotroski VR‑10 (Strict, 0-10) 2.0
| Net Income (66.6m TTM) > 0 and > 6% of Revenue (6% = 12.7m TTM) |
| FCFTA 0.02 (>2.0%) and ΔFCFTA -0.69pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 93.04% (prev 135.3%; Δ -42.24pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.02 (>3.0%) and CFO 91.2m > Net Income 66.6m (YES >=105%, WARN >=100%) |
| Net Debt (2.84b) to EBITDA (197.7m) ratio: 14.36 <= 3.0 (WARN <= 3.5) |
| Current Ratio 110.0 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (78.8m) change vs 12m ago -3.14% (target <= -2.0% for YES) |
| Gross Margin 76.19% (prev 82.29%; Δ -6.10pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 5.47% (prev 4.24%; Δ 1.22pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 1.04 (EBITDA TTM 197.7m / Interest Expense TTM 181.8m) >= 6 (WARN >= 3) |
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 (Balance) -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 |
| Total Rating: -0.11 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 54.47
| 1. Piotroski 2.0pt |
| 2. FCF Yield 2.44% |
| 3. FCF Margin 41.06% |
| 4. Debt/Equity 2.71 |
| 5. Debt/Ebitda 14.36 |
| 6. ROIC - WACC (= 1.78)% |
| 7. RoE 6.07% |
| 8. Rev. Trend -15.88% |
| 9. EPS Trend 0.67% |
What is the price of TRTX shares?
Over the past week, the price has changed by -0.55%, over one month by +1.68%, over three months by -1.22% and over the past year by +12.44%.
Is TRTX a buy, sell or hold?
- Strong Buy: 2
- Buy: 2
- Hold: 0
- Sell: 1
- Strong Sell: 0
What are the forecasts/targets for the TRTX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 10.1 | 11.3% |
| Analysts Target Price | 10.1 | 11.3% |
| ValueRay Target Price | 10.3 | 13.6% |
TRTX Fundamental Data Overview December 05, 2025
P/E Trailing = 14.0769
P/E Forward = 11.1111
P/S = 5.1887
P/B = 0.6615
Beta = 1.575
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 = 3.56b USD (719.1m + Debt 2.93b - CCE 93.6m)
Interest Coverage Ratio = 1.04 (Ebit TTM 188.4m / Interest Expense TTM 181.8m)
FCF Yield = 2.44% (FCF TTM 86.7m / Enterprise Value 3.56b)
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 = 0.88 (Enterprise Value 3.56b / 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 = 1.64% (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 = 2.98% (E(719.1m)/V(3.65b) * Re(8.39%) + D(2.93b)/V(3.65b) * Rd(1.66%) * (1-Tc(0.00)))
Discount Rate = 8.39% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.69%
[DCF Debug] Terminal Value 74.71% ; FCFE base≈93.4m ; Y1≈81.1m ; Y5≈64.9m
Fair Price DCF = 14.18 (DCF Value 1.11b / Shares Outstanding 78.3m; 5y FCF grow -16.05% → 3.0% )
EPS Correlation: 0.67 | EPS CAGR: 2.25% | SUE: 0.0 | # 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=-0.001 | Revisions Net=-2 | Analysts=5
EPS next Year (2026-12-31): EPS=1.11 | Chg30d=+0.026 | Revisions Net=+1 | Growth EPS=+12.4% | Growth Revenue=+10.3%
Additional Sources for TRTX Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle