(TRTX) TPG RE Finance Trust - Overview

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US87266M1071

Stock:

Total Rating 47

Risk 50

Buy Signal -0.98

REIT - Mortgage -10.1
Mortgage REITs -12.0

Market Cap: 666m
Avg Trading Vol: 6.75M USD

ATR: 2.70%
Peers RS (IBD): 33.33

Risk 5d forecast
Volatility	26.7%
Relative Tail Risk	-0.57%

Reward TTM
Sharpe Ratio	0.44
Alpha	3.19

Character TTM
Beta	0.484
Beta Downside	0.741

Drawdowns 3y
Max DD	36.18%
CAGR/Max DD	0.34

EPS (Earnings per Share)

EPS CAGR: -1.08%
EPS Trend: 9.7%

Last SUE: -0.03
Qual. Beats: 0

Revenue

Rev. CAGR: 23.53%
Rev. Trend: 2.1%

Last SUE: 4.00
Qual. Beats: 3

Description: TRTX TPG RE Finance Trust

TPG RE Finance Trust, Inc., a commercial real estate finance company, originates and acquires a portfolio of commercial real estate-related assets in the United States. It engages in directly originating and selectively acquiring first mortgage loans secured by commercial real estate properties; and invests in other commercial real estate-related debt instruments, including subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. TPG RE Finance Trust, Inc. was incorporated in 2014 and is based in New York, New York.

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income: 59.9m TTM > 0 and > 6% of Revenue
FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.81 > 1.0
NWC/Revenue: -204.8% < 20% (prev 187.5%; Δ -392.3% < -1%)
CFO/TA 0.02 > 3% & CFO 90.4m > Net Income 59.9m
Net Debt (3.20b) to EBITDA (255.8m): 12.51 < 3
Current Ratio: 0.18 > 1.5 & < 3
Outstanding Shares: last quarter (78.3m) vs 12m ago -1.55% < -2%
Gross Margin: 78.97% > 18% (prev 0.61%; Δ 7836 % > 0.5%)
Asset Turnover: 6.51% > 50% (prev 2.44%; Δ 4.07% > 0%)
Interest Coverage Ratio: 1.29 > 6 (EBITDA TTM 255.8m / Interest Expense TTM 189.0m)

Altman Z'' -1.11

A: -0.12 (Total Current Assets 117.4m - Total Current Liabilities 660.3m) / Total Assets 4.41b
B: -0.15 (Retained Earnings -672.6m / Total Assets 4.41b)
C: 0.06 (EBIT TTM 243.9m / Avg Total Assets 4.07b)
D: -0.20 (Book Value of Equity -672.6m / Total Liabilities 3.34b)
Altman-Z'' Score: -1.11 = CCC

Beneish M

DSRI: 0.36 (Receivables 29.1m/27.6m, Revenue 265.0m/91.2m)
GMI: 0.77 (GM 78.97% / 60.94%)
AQI: none (AQ_t none / AQ_t-1 none)
SGI: 2.91 (Revenue 265.0m / 91.2m)
TATA: -0.01 (NI 59.9m - CFO 90.4m) / TA 4.41b)
Beneish M-Score: cannot calculate (missing components)

What is the price of TRTX shares?

As of February 24, 2026, the stock is trading at USD 8.34 with a total of 598,487 shares traded.
Over the past week, the price has changed by -5.33%, over one month by -7.02%, over three months by -1.99% and over the past year by +12.19%.

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	10.1	21.1%
Analysts Target Price	10.1	21.1%

TRTX Fundamental Data Overview February 24, 2026

P/E Trailing = 13.0462
P/E Forward = 11.1111
P/S = 5.0395
P/B = 0.6189
Revenue TTM = 265.0m USD
EBIT TTM = 243.9m USD
EBITDA TTM = 255.8m USD
Long Term Debt = 2.93b USD (from longTermDebt, two quarters ago)
Short Term Debt = 660.3m USD (from shortTermDebt, last quarter)
Debt = 3.29b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.20b USD (from netDebt column, last quarter)
Enterprise Value = 3.87b USD (666.4m + Debt 3.29b - CCE 87.6m)
Interest Coverage Ratio = 1.29 (Ebit TTM 243.9m / Interest Expense TTM 189.0m)
EV/FCF = 42.80x (Enterprise Value 3.87b / FCF TTM 90.4m)
FCF Yield = 2.34% (FCF TTM 90.4m / Enterprise Value 3.87b)
FCF Margin = 34.09% (FCF TTM 90.4m / Revenue TTM 265.0m)
Net Margin = 22.61% (Net Income TTM 59.9m / Revenue TTM 265.0m)
Gross Margin = 78.97% ((Revenue TTM 265.0m - Cost of Revenue TTM 55.7m) / Revenue TTM)
Gross Margin QoQ = 85.06% (prev 80.51%)
Tobins Q-Ratio = 0.88 (Enterprise Value 3.87b / Total Assets 4.41b)
Interest Expense / Debt = 1.57% (Interest Expense 51.5m / Debt 3.29b)
Taxrate = 2.09% (85.0k / 4.06m)
NOPAT = 238.8m (EBIT 243.9m * (1 - 2.09%))
Current Ratio = 0.18 (Total Current Assets 117.4m / Total Current Liabilities 660.3m)
Debt / Equity = 3.08 (Debt 3.29b / totalStockholderEquity, last quarter 1.07b)
Debt / EBITDA = 12.51 (Net Debt 3.20b / EBITDA 255.8m)
Debt / FCF = 35.42 (Net Debt 3.20b / FCF TTM 90.4m)
Total Stockholder Equity = 1.09b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.47% (Net Income 59.9m / Total Assets 4.41b)
RoE = 5.52% (Net Income TTM 59.9m / Total Stockholder Equity 1.09b)
RoCE = 6.07% (EBIT 243.9m / Capital Employed (Equity 1.09b + L.T.Debt 2.93b))
RoIC = 5.95% (NOPAT 238.8m / Invested Capital 4.02b)
WACC = 2.57% (E(666.4m)/V(3.96b) * Re(7.70%) + D(3.29b)/V(3.96b) * Rd(1.57%) * (1-Tc(0.02)))
Discount Rate = 7.70% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 33.33 | Cagr: 0.37%
[DCF Debug] Terminal Value 84.84% ; FCFF base≈96.9m ; Y1≈84.5m ; Y5≈68.0m
Fair Price DCF = N/A (negative equity: EV 2.06b - Net Debt 3.20b = -1.14b; debt exceeds intrinsic value)
EPS Correlation: 9.72 | EPS CAGR: -1.08% | SUE: -0.03 | # QB: 0
Revenue Correlation: 2.10 | Revenue CAGR: 23.53% | SUE: 4.0 | # QB: 3
EPS next Quarter (2026-03-31): EPS=0.25 | Chg30d=-0.013 | Revisions Net=-2 | Analysts=6
EPS current Year (2026-12-31): EPS=1.06 | Chg30d=-0.050 | Revisions Net=+0 | Growth EPS=+9.6% | Growth Revenue=+16.5%
EPS next Year (2027-12-31): EPS=1.16 | Chg30d=+0.010 | Revisions Net=+0 | Growth EPS=+9.1% | Growth Revenue=+21.5%

Additional Sources for TRTX Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Fund Manager Positions: Dataroma | Stockcircle