TPG RE Finance Trust, Inc. (TRTX) Stock

TPG RE Finance Trust, Inc. (TRTX) is a Real Estate stock trading at $7.88 (as of 2026-08-21), with a market capitalization of $609.19M and a trailing P/E of 8.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

TPG RE Finance Trust, Inc. is a commercial real estate finance company that invests in and manages commercial mortgage loans and other commercial real estate-related debt instruments in the United States. Its portfolio includes mortgage loans, subordinate and mezzanine interests, secured real estate securities, and related loan structures, including CMBS and collateralized loan obligations.

Understand TPG RE Finance Trust, Inc.: how it makes money

TPG RE Finance Trust invests in and manages U.S. commercial real estate debt, including commercial mortgage loans and related structured credit instruments, and it generates returns from these lending and investment activities.

Its profit model is fundamentally driven by the performance of its U.S. commercial real estate loan and structured-debt portfolio, which it originates, acquires, and manages across specific property types (office, multifamily, life science, mixed-use, and hospitality).

Business quality (Mixed): A specialized U.S. commercial real estate finance company focused on originating, acquiring, and managing mortgage loans and related debt instruments, with profitability shown by an operating margin of 25.7% for the quarter ended 2026-03-31.

Valuation: At 13× earnings, TRTX trades 61% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Focused business scope: The company’s activities center on originating, acquiring, and managing commercial real estate mortgage loans and other commercial real estate-related debt instruments.
  • Property-type targeting: Its investments are secured by properties primarily in office, multifamily, life science, mixed-use, and hospitality.

Bear case

  • Credit and collateral risk: Because it invests in commercial mortgage loans and other real estate debt instruments, its results depend on the performance of the underlying collateral and borrowers across its selected property types.
  • Structured credit complexity: The portfolio includes subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and other debt instruments, which can add sensitivity to losses and valuation impacts.
Valuation — source: SEC EDGAR (first-party)
Price$7.88
Market Cap$609.19M
P/E Ratio8.1
EV / EBITDA46.8
Price / Book0.57
Price / Sales2.10
DCF Value (model)$1.99
DCF Upside vs Price-74.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$290.24M
Net Margin20.8%
Revenue Growth (YoY)179.0%
EPS Growth (YoY)-88.3%
Valuation vs Sector & Industry
Stock P/E8.1
Sector P/E (Real Estate)27.2
Industry P/E (Trading)35.3
vs Sector-70.2%
vs Industry-77.1%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderLong Pond Capital, LP ($54.90M)
Institutional Holders Tracked10
Company
SectorReal Estate
IndustryTrading
CEODoug Bouquard
CountryUS
IPO Date2017-07-20

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TRTX earnings history · TRTX institutional & insider holders · TRTX KPIs & operating metrics · TRTX financials · TRTX investor presentations & press releases · TRTX SEC filings · TRTX peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.