TPG RE Finance Trust, Inc., a commercial real estate finance company, originates, acquires, and manages commercial mortgage loans and other commercial real estate-related debt instruments in North America.
Proven track record and fair value.
Share Price & News
How has TPG RE Finance Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TRTX has not had significant price volatility in the past 3 months.
7 Day Return
US Mortgage REITs
1 Year Return
US Mortgage REITs
Return vs Industry: TRTX underperformed the US Mortgage REITs industry which returned 2.7% over the past year.
Return vs Market: TRTX underperformed the US Market which returned 10.5% over the past year.
Price Volatility Vs. Market
How volatile is TPG RE Finance Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 months ago | Simply Wall StRevenue Beat: TPG RE Finance Trust, Inc. Exceeded Revenue Forecasts By 12% And Analysts Are Updating Their Estimates
5 months ago | Simply Wall StHere's Why We're Wary Of Buying TPG RE Finance Trust, Inc.'s (NYSE:TRTX) For Its Upcoming Dividend
6 months ago | Simply Wall StHow Much Of TPG RE Finance Trust, Inc. (NYSE:TRTX) Do Institutions Own?
Is TPG RE Finance Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TRTX ($20.17) is trading below our estimate of fair value ($25.18)
Significantly Below Fair Value: TRTX is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: TRTX is good value based on its PE Ratio (11.6x) compared to the Mortgage REITs industry average (12.9x).
PE vs Market: TRTX is good value based on its PE Ratio (11.6x) compared to the US market (17.2x).
Price to Earnings Growth Ratio
PEG Ratio: TRTX is poor value based on its PEG Ratio (3.2x)
Price to Book Ratio
PB vs Industry: TRTX is overvalued based on its PB Ratio (1x) compared to the US Mortgage REITs industry average (1x).
How is TPG RE Finance Trust forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TRTX's forecast earnings growth (3.7% per year) is above the savings rate (1.7%).
Earnings vs Market: TRTX's earnings (3.7% per year) are forecast to grow slower than the US market (13.2% per year).
High Growth Earnings: TRTX's earnings are forecast to grow, but not significantly.
Revenue vs Market: TRTX's revenue (3.9% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: TRTX's revenue (3.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TRTX's Return on Equity is forecast to be low in 3 years time (8.8%).
How has TPG RE Finance Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TRTX has high quality earnings.
Growing Profit Margin: TRTX's current net profit margins (75.8%) are lower than last year (75.9%).
Past Earnings Growth Analysis
Earnings Trend: TRTX's earnings have grown by 17.4% per year over the past 5 years.
Accelerating Growth: TRTX's earnings growth over the past year (18.1%) exceeds its 5-year average (17.4% per year).
Earnings vs Industry: TRTX earnings growth over the past year (18.1%) exceeded the Mortgage REITs industry 11.3%.
Return on Equity
High ROE: TRTX's Return on Equity (8.4%) is considered low.
Return on Assets
Return on Capital Employed
How is TPG RE Finance Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: TRTX has a low level of unsold assets or inventory.
Debt Coverage by Assets: TRTX's debt is covered by short term assets (assets are 1.2x debt).
Financial Institutions Analysis
Asset Level: TRTX's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if TRTX has a sufficient allowance for bad loans.
Low Risk Liabilities: TRTX reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if TRTX has an acceptable proportion of non-loan assets held.
Low Risk Deposits: TRTX has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if TRTX has an appropriate level of bad loans.
What is TPG RE Finance Trust's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: TRTX's dividend (8.53%) is higher than the bottom 25% of dividend payers in the US market (1.52%).
High Dividend: TRTX's dividend (8.53%) is in the top 25% of dividend payers in the US market (3.9%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, TRTX has been paying a dividend for less than 10 years.
Growing Dividend: TRTX's dividend payments have increased, but the company has only paid a dividend for 2 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (99.1%), TRTX's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TRTX's dividends in 3 years are not forecast to be well covered by earnings (94.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Greta Guggenheim (60yo)
Ms. Greta Guggenheim is the Co-Founder of Ladder Capital Corp and served as its Chief Investment Officer from June 2012 to August 24, 2015. Ms. Guggenheim is a Partner of TPG and TPG Real Estate. Ms. Gugge ...
|CEO, President & Director||4.1yrs||US$2.90m||0.65% $10.1m|
|Chief Financial & Risk Officer||4.5yrs||US$601.30k||0.098% $1.5m|
|VP, General Counsel & Corporate Secretary||2.1yrs||US$140.00k||0.046% $703.3k|
|Vice President||3.3yrs||US$840.00k||0.15% $2.2m|
|Vice President||4yrs||no data||0.014% $216.5k|
|Investor Relations||0yrs||no data||no data|
Experienced Management: TRTX's management team is considered experienced (4 years average tenure).
|CEO, President & Director||4.1yrs||US$2.90m||0.65% $10.1m|
|Independent Director||2.6yrs||US$110.30k||0.0067% $102.5k|
|Director||5.2yrs||no data||0.030% $462.4k|
|Independent Director||2.6yrs||US$107.80k||0.0067% $102.5k|
|Chairman of the Board||5.2yrs||no data||0.030% $462.4k|
|Independent Director||2.6yrs||US$112.80k||0.0067% $102.5k|
|Independent Director||2.6yrs||US$120.30k||0.0021% $32.2k|
Experienced Board: TRTX's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 15.4%.
TPG RE Finance Trust, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: TPG RE Finance Trust, Inc.
- Ticker: TRTX
- Exchange: NYSE
- Founded: 2014
- Industry: Mortgage REITs
- Sector: Diversified Financials
- Market Cap: US$1.535b
- Shares outstanding: 76.41m
- Website: https://www.tpgrefinance.com
- TPG RE Finance Trust, Inc.
- 888 Seventh Avenue
- 35th Floor
- New York
- New York
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|TRTX||NYSE (New York Stock Exchange)||Yes||Common Stock||US||USD||Jul 2017|
TPG RE Finance Trust, Inc., a commercial real estate finance company, originates, acquires, and manages commercial mortgage loans and other commercial real estate-related debt instruments in North America. It invests in commercial mortgage loans; subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments; and commercial real estate collateralized loan obligations and commercial mortgage-backed securities secured by properties primarily in the office, mixed use, multifamily, industrial, retail, and hospitality real estate sectors. 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 founded in 2014 and is based in New York, New York.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/27 02:47|
|End of Day Share Price||2020/02/26 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.