TRTX Stock Analysis: TPG RE Finance Trust | NYSE
REIT - Mortgage | NYSE, USA | Market Cap: 630m USD | 12M Return: 2.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.56M
Qual. Beats: -1
Rev. Trend: -89.6%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 8.9 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
TPG RE Finance Trust, Inc. (NYSE: TRTX) is a commercial real estate finance company that originates and acquires commercial real estate-related assets in the United States. Its primary activity is directly originating first mortgage loans secured by commercial real estate properties, while it also selectively invests in other debt instruments, including subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, and preferred equity.
The company operates as a real estate investment trust (REIT), which subjects it to federal income tax rules requiring the distribution of at least 90% of its taxable income to shareholders in order to avoid federal corporate income tax. As a mortgage REIT, TRTX generates revenue primarily through interest income on its loan portfolio rather than rental income from owned properties. Incorporated in 2014 and headquartered in New York, the company has been listed on the NYSE since 2017.
- Office loan credit losses pressure book value and earnings
- Net interest margin compresses on rising funding costs
- Dividend sustainability questioned amid CRE market stress
| Net Income: 58.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.34 > 1.0 |
| NWC/Revenue: 23.62% < 20% (prev 1.18k%; Δ -1.15k% < -1%) |
| CFO/TA 0.02 > 3% & CFO 92.6m > Net Income 58.0m |
| Net Debt (3.38b) to EBITDA (268.1m): 12.62 < 3 |
| Current Ratio: 2.99 > 1.5 & < 3 |
| Outstanding Shares: last quarter (78.0m) vs 12m ago -2.72% < -2% |
| Gross Margin: 74.20% > 18% (prev 78.22%; Δ -4.02% > 0.5%) |
| Asset Turnover: 6.09% > 50% (prev 7.89%; Δ -1.80% > 0%) |
| Interest Coverage Ratio: 1.29 > 6 (EBIT TTM 257.6m / Interest Expense TTM 199.1m) |
| A: 0.01 (Total Current Assets 94.7m - Total Current Liabilities 31.7m) / Total Assets 4.60b |
| B: -0.15 (Retained Earnings -700.3m / Total Assets 4.60b) |
| C: 0.06 (EBIT TTM 257.6m / Avg Total Assets 4.38b) |
| D: 0.29 (Book Value of Equity 1.04b / Total Liabilities 3.55b) |
| Altman-Z'' = 0.30 = B |
| DSRI: 0.10 (Receivables 29.1m/3.71b, Revenue 266.8m/328.4m) |
| GMI: 1.05 (GM 78.22% / 74.20%) |
| AQI: 120.3 (AQ_t 0.93 / AQ_t-1 0.01) |
| SGI: 0.81 (Revenue 266.8m / 328.4m) |
| TATA: -0.01 (NI 58.0m - CFO 92.6m) / TA 4.60b) |
| Beneish M = 66.90 (Cap -4..+1) = D |
As of August 01, 2026, the stock is trading at USD 7.97 with a total of 976,849 shares traded. Over the past week, the price has changed by -7.54%, over one month by -4.78%, over three months by -3.06% and over the past year by +2.57%.
Current recommended Stop Loss: 7.60 (which is 4.6% or 1.9 ATR below the current price).
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
| Analysts Target Price | 10.1 | 26.5% |
P/E Trailing = 14.9273
P/E Forward = 11.1111
P/S = 4.7656
P/B = 0.6216
Revenue TTM = 266.8m USD
EBIT TTM = 257.6m USD
EBITDA TTM = 268.1m USD
Long Term Debt = 3.29b USD (from longTermDebt, last fiscal year)
Short Term Debt = 660.3m USD (from shortTermDebt, last fiscal year)
Debt = 3.45b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.38b USD (calculated: Debt 3.45b - CCE 65.6m)
Enterprise Value = 4.01b USD (630.3m + Debt 3.45b - CCE 65.6m)
Interest Coverage Ratio = 1.29 (Ebit TTM 257.6m / Interest Expense TTM 199.1m)
EV/FCF = 48.42x (Enterprise Value 4.01b / FCF TTM 82.9m)
FCF Yield = 2.07% (FCF TTM 82.9m / Enterprise Value 4.01b)
FCF Margin = 31.07% (FCF TTM 82.9m / Revenue TTM 266.8m)
Net Margin = 21.76% (Net Income TTM 58.0m / Revenue TTM 266.8m)
Gross Margin = 74.20% ((Revenue TTM 266.8m - Cost of Revenue TTM 68.8m) / Revenue TTM)
Gross Margin QoQ = none% (prev 80.55%)
Tobins Q-Ratio = 0.87 (Enterprise Value 4.01b / Total Assets 4.60b)
Interest Expense / Debt = 5.77% (Interest Expense 199.1m / Debt 3.45b)
Taxrate = 0.70% (407k / 58.4m)
NOPAT = 255.8m (EBIT 257.6m * (1 - 0.70%))
Current Ratio = 2.99 (Total Current Assets 94.7m / Total Current Liabilities 31.7m)
Debt / Equity = 3.30 (Debt 3.45b / totalStockholderEquity, last quarter 1.04b)
Debt / EBITDA = 12.62 (Net Debt 3.38b / EBITDA 268.1m)
Debt / FCF = 40.82 (Net Debt 3.38b / FCF TTM 82.9m)
Total Stockholder Equity = 1.06b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.33% (Net Income 58.0m / Total Assets 4.60b)
RoE = 5.45% (Net Income TTM 58.0m / Total Stockholder Equity 1.06b)
RoCE = 5.92% (EBIT 257.6m / Capital Employed (Equity 1.06b + L.T.Debt 3.29b))
RoIC = 4.88% (NOPAT 255.8m / Invested Capital 5.24b)
WACC = 6.10% (E(630.3m)/V(4.08b) * Re(8.08%) + D(3.45b)/V(4.08b) * Rd(5.77%) * (1-Tc(0.01)))
Discount Rate = 8.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -43.15 | Cagr: 0.09%
[DCF] Terminal Value 74.40% ; FCFF base≈85.5m ; Y1≈80.6m ; Y5≈75.4m
[DCF] Fair Price = N/A (negative equity: EV 1.19b - Net Debt 3.38b = -2.19b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.98 | # QB: -1
Revenue Correlation: -89.55 | Revenue CAGR: -10.37% | SUE: -0.20 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.26 | Chg30d=+0.50% | Revisions=-25% | Analysts=6
EPS current Year (2026-12-31): EPS=1.04 | Chg30d=+0.48% | Revisions=-25% | GrowthEPS=+7.7% | GrowthRev=+4.3%
EPS next Year (2027-12-31): EPS=1.15 | Chg30d=+0.79% | Revisions=+0% | GrowthEPS=+9.6% | GrowthRev=+8.4%
[Analyst] Revisions Ratio: -29% (up=1, down=3)