TPG RE Finance Trust, Inc.

NYSE:TRTX Stock Report

Market Cap: US$709.7m

TPG RE Finance Trust Valuation

Is TRTX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TRTX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate TRTX's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate TRTX's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TRTX?

Key metric: As TRTX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TRTX. This is calculated by dividing TRTX's market cap by their current earnings.
What is TRTX's PE Ratio?
PE Ratio12.8x
EarningsUS$55.39m
Market CapUS$709.74m

Price to Earnings Ratio vs Peers

How does TRTX's PE Ratio compare to its peers?

The above table shows the PE ratio for TRTX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.7x
RWT Redwood Trust
12.4x20.2%US$875.6m
CIM Chimera Investment
4.3x-30.8%US$1.2b
NREF NexPoint Real Estate Finance
12x26.3%US$354.1m
DX Dynex Capital
18.3x22.9%US$1.4b
TRTX TPG RE Finance Trust
12.8x14.9%US$709.7m

Price-To-Earnings vs Peers: TRTX is expensive based on its Price-To-Earnings Ratio (12.8x) compared to the peer average (11.7x).

Price to Earnings Ratio vs Industry

How does TRTX's PE Ratio compare vs other companies in the US Mortgage REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
TRTX 12.8xIndustry Avg. 10.4xNo. of Companies5PE0612182430+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TRTX is expensive based on its Price-To-Earnings Ratio (12.8x) compared to the US Mortgage REITs industry average (10.4x).

Price to Earnings Ratio vs Fair Ratio

What is TRTX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TRTX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.8x
Fair PE Ratio14.3x

Price-To-Earnings vs Fair Ratio: TRTX is good value based on its Price-To-Earnings Ratio (12.8x) compared to the estimated Fair Price-To-Earnings Ratio (14.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TRTX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$8.77
US$9.92
+13.1%
6.1%US$11.00US$9.00n/a6
Dec ’25US$9.13
US$9.92
+8.6%
6.1%US$11.00US$9.00n/a6
Nov ’25US$8.76
US$9.92
+13.2%
6.1%US$11.00US$9.00n/a6
Oct ’25US$8.23
US$9.67
+17.5%
9.8%US$11.00US$8.00n/a6
Sep ’25US$9.06
US$9.67
+6.7%
9.8%US$11.00US$8.00n/a6
Aug ’25US$8.58
US$9.42
+9.8%
9.9%US$11.00US$8.00n/a6
Jul ’25US$8.48
US$8.80
+3.8%
8.5%US$9.50US$7.50n/a5
Jun ’25US$8.58
US$8.80
+2.6%
8.5%US$9.50US$7.50n/a5
May ’25US$8.29
US$7.80
-5.9%
13.8%US$9.50US$6.50n/a5
Apr ’25US$7.79
US$7.60
-2.4%
12.8%US$9.00US$6.50n/a5
Mar ’25US$7.55
US$7.42
-1.8%
13.7%US$9.00US$6.00n/a6
Feb ’25US$6.06
US$6.75
+11.4%
21.7%US$9.00US$5.00n/a6
Jan ’25US$6.50
US$6.75
+3.8%
21.7%US$9.00US$5.00n/a6
Dec ’24US$6.18
US$6.75
+9.2%
21.7%US$9.00US$5.00US$9.136
Nov ’24US$5.27
US$7.33
+39.2%
16.5%US$9.00US$6.00US$8.766
Oct ’24US$6.73
US$7.75
+15.2%
16.6%US$10.00US$6.50US$8.236
Sep ’24US$7.54
US$7.75
+2.8%
16.6%US$10.00US$6.50US$9.066
Aug ’24US$7.64
US$7.75
+1.4%
17.4%US$10.00US$6.00US$8.586
Jul ’24US$7.41
US$7.58
+2.3%
18.8%US$10.00US$6.00US$8.486
Jun ’24US$6.42
US$7.58
+18.1%
18.8%US$10.00US$6.00US$8.586
May ’24US$6.96
US$9.00
+29.3%
17.3%US$11.00US$7.00US$8.296
Apr ’24US$7.26
US$9.58
+32.0%
10.6%US$11.00US$8.50US$7.796
Mar ’24US$8.25
US$9.58
+16.2%
10.6%US$11.00US$8.50US$7.556
Feb ’24US$8.74
US$9.00
+3.0%
12.8%US$11.00US$8.00US$6.066
Jan ’24US$6.79
US$9.00
+32.5%
12.8%US$11.00US$8.00US$6.506
Dec ’23US$7.54
US$9.00
+19.4%
12.8%US$11.00US$8.00US$6.186

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 00:44
End of Day Share Price 2024/12/24 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

TPG RE Finance Trust, Inc. is covered by 11 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Derek HewettBofA Global Research
Eric DrayBofA Global Research
William CatherwoodBTIG