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TPG RE Finance Trust, Inc.

TRTX

TPG RE Finance Trust, Inc. is a commercial real estate finance company that specializes in the direct origination and acquisition of commercial real estate-related credit assets.

Market cap
$562.72M-22.6%
Revenue$299.8M+5.0%
Net income$58.0M-13.7%
Free cash flow$91.5M-1.6%
EPS (diluted)$0.55-15.4%
Trailing twelve months · change vs. prior year

Earnings

Next report

Oct 27, 2026 (in a month)
Revenue estimate$38.3M
EPS estimate$0.26

Financials

Q2 2026

Income statement

See full
Revenue$74.1M+4.8%
Net income$13.1M-36.3%
EPS (diluted)$0.12-42.9%

Balance sheet

See full
Cash & equivalents$39.5M-76.3%
Total debt$3.6B
Total equity$1.0B-4.2%
Total assets$4.6B+10.4%

Cash flow

See full
Operating cash flow$21.6M-12.8%
CapEx$183.0K
Free cash flow$21.4M-14.3%

Valuation & ratios

Valuation

See full
Market cap$562.72M-22.6%
Enterprise value$4.1B
P/E9.7×-1.1×
P/S1.9×-0.7×

Profitability

See full
Net margin19.4%-4.2pp
FCF margin30.5%-2.0pp

Returns & leverage

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Return on equity5.4%-0.6pp
Debt / equity3.4×

Competitors

Profile

TPG RE Finance Trust, Inc. is a commercial real estate finance company that specializes in the direct origination and acquisition of commercial real estate-related credit assets. The company focuses on first mortgage loans secured by institutional-quality properties undergoing transition or repositioning. It operates as a REIT and leverages the global alternative asset management platform of TPG to source and manage its portfolio.

Competitive position

A specialized commercial mortgage REIT backed by the extensive resources and deal flow of TPG's global real estate platform.

GeographiesUnited States
Customer segmentsInstitutional Investors, Commercial Property Owners
Business modelDirect Lending, Asset Management, REIT
SuppliersCapital Markets, Warehouse Financing Providers, TPG Management Services
CustomersCommercial Real Estate Borrowers, Property Owners undergoing repositioning
Listed2017
CEODoug Bouquard
FilingsSEC EDGAR

FAQ

What is TPG RE Finance Trust, Inc.'s market cap?
TPG RE Finance Trust, Inc. (TRTX) has a market capitalization of $562.7M and trades on NYSE.
What is TPG RE Finance Trust, Inc.'s revenue and profitability?
TPG RE Finance Trust, Inc. generated $299.8M in trailing twelve-month revenue with net income of $58.0M, representing a net margin of 19.4%, with free cash flow of $91.5M. The latest reported period is Q2 2026.
Who are TPG RE Finance Trust, Inc.'s competitors?
TPG RE Finance Trust, Inc.'s key competitors include Blackstone Mortgage Trust, Inc., Apollo Commercial Real Estate Finance, Inc., Starwood Property Trust, Inc., and others. These companies compete in similar markets and product categories.
Who does TPG RE Finance Trust, Inc. partner with?
TPG RE Finance Trust, Inc.'s notable partners include TPG Inc..
What subsidiaries does TPG RE Finance Trust, Inc. have?
TPG RE Finance Trust, Inc.'s subsidiaries include TPG RE Finance Trust Holdco, LLC.
Where is TPG RE Finance Trust, Inc. headquartered?
TPG RE Finance Trust, Inc. is headquartered in United States of America. It has been publicly traded since 2017.