TPG RE Finance Trust, Inc. (TRTX)
NYSE · Real Estate Investment Trusts · Finance, insurance and real estate · CIK 1630472 · fiscal year ends in Dec
Closing price $6.42 on 29 Oct 2026; 52-week range $5.64 to $9.31.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $142.3M
- Revenue growth
- -2.4%
- Net income, last twelve months
- $45.4M
- Earnings per share
- $0.39
- Net margin
- 31.9%
- Return on equity
- 4.4%
- Market value
- $486.8M
- Price to earnings
- 16.5x
- Dividend yield
- 15.0%
- Cash
- $70.8M
- Debt
- $4.2B
- Debt to equity
- 4.10
- Shares outstanding
- 75.8M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $146.1M | – | $60.3M | $0.57 | – | 10-K filed 17 Feb 2026 |
| FY2024 | 31 Dec 2024 | $153.1M | – | $74.3M | $0.75 | – | 10-K filed 18 Feb 2025 |
| FY2023 | 31 Dec 2023 | $116.4M | – | -$116.6M | -$1.69 | – | 10-K filed 20 Feb 2024 |
| FY2022 | 31 Dec 2022 | $145.0M | – | -$60.1M | -$0.95 | – | 10-K filed 21 Feb 2023 |
| FY2021 | 31 Dec 2021 | $155.6M | – | $138.6M | $0.87 | – | 10-K filed 23 Feb 2022 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q3 FY2026 | 30 Sep 2026 | $35.9M | $9.4M | $0.08 |
| Q2 FY2026 | 30 Jun 2026 | $34.0M | $13.1M | $0.12 |
| Q1 FY2026 | 31 Mar 2026 | $37.3M | $18.9M | $0.19 |
| Q4 FY2025 | 31 Dec 2025 | $35.0M | $4.0M | $0.00 |
| Q3 FY2025 | 30 Sep 2025 | $37.8M | $22.0M | $0.23 |
| Q2 FY2025 | 30 Jun 2025 | $36.2M | $20.6M | $0.21 |
| Q1 FY2025 | 31 Mar 2025 | $37.0M | $13.7M | $0.12 |
| Q4 FY2024 | 31 Dec 2024 | $34.7M | $10.7M | $0.09 |
Company events
The newest 8-K filings of 95 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 26 Oct 2026 | 8-K | Results | 2.02, 9.01 |
| 6 Oct 2026 | 8-K | Material agreement, New debt | 1.01, 2.03, 9.01 |
| 28 Jul 2026 | 8-K | Results | 2.02, 9.01 |
| 1 Jun 2026 | 8-K | Investor update | 7.01, 9.01 |
| 21 May 2026 | 8-K | Shareholder vote | 5.07, 9.01 |
| 15 May 2026 | 8-K | Material agreement, New debt, Investor update | 1.01, 2.03, 7.01, 9.01 |
| 28 Apr 2026 | 8-K | Results | 2.02, 9.01 |
| 2 Mar 2026 | 8-K | Investor update | 7.01, 9.01 |
| 17 Feb 2026 | 8-K | Results | 2.02, 9.01 |
| 21 Nov 2025 | 8-K | Material agreement, New debt, Investor update | 1.01, 2.03, 7.01, 9.01 |
| 17 Nov 2025 | 8-K | Investor update | 7.01, 9.01 |
| 28 Oct 2025 | 8-K | Results | 2.02, 9.01 |
Every filing
The newest filings with the SEC of 189 held.
| Filed | Form | Period |
|---|---|---|
| 26 Oct 2026 | 8-K | 26 Oct 2026 |
| 26 Oct 2026 | 10-Q | 30 Sep 2026 |
| 6 Oct 2026 | 8-K | 2 Oct 2026 |
| 28 Jul 2026 | 8-K | 28 Jul 2026 |
| 28 Jul 2026 | 10-Q | 30 Jun 2026 |
| 1 Jun 2026 | 8-K | 1 Jun 2026 |
| 21 May 2026 | 8-K | 19 May 2026 |
| 15 May 2026 | 8-K | 14 May 2026 |
| 28 Apr 2026 | 8-K | 28 Apr 2026 |
| 28 Apr 2026 | 10-Q | 31 Mar 2026 |
| 8 Apr 2026 | ARS | 31 Dec 2025 |
| 8 Apr 2026 | DEFA14A | – |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 31 Jul 2026 | Vanguard Capital Management | 13G | 5.07% | 3.9M |
| 30 Jul 2026 | BlackRock, Inc. | 13G amended | 7.7% | 6.0M |
| 21 Apr 2026 | Gratia Capital, LLC | 13D amended | 3.7% | 2.9M |
| 27 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 8 Jan 2026 | Gratia Capital, LLC | 13D | 5.6% | 4.4M |
| 14 Nov 2025 | TPG GP A, LLC | 13G amended | 3.2% | 2.5M |
| 31 Oct 2025 | The Vanguard Group | 13G | 5.03% | 4.0M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 6.9M | +6.33% | 4.67 |
| 30 Sep 2026 | 6.5M | +25.49% | 5.07 |
| 15 Sep 2026 | 5.2M | +5.66% | 7.58 |
| 31 Aug 2026 | 4.9M | +9.16% | 5.85 |
| 14 Aug 2026 | 4.5M | +32.31% | 4.89 |
| 31 Jul 2026 | 3.4M | -5.66% | 4.29 |
| 15 Jul 2026 | 3.6M | -5.76% | 5.59 |
| 30 Jun 2026 | 3.8M | +2.87% | 4.14 |
Funds that hold it
From each fund's latest Form 13F.
171 funds held it at 30 Jun 2026: 80 added and 39 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| Long Pond Capital, LP | 7,029,102 | $58.8M | 0 |
| BlackRock, Inc. | 6,497,688 | $54.4M | +226,588 |
| Vanguard Capital Management LLC | 3,352,835 | $28.1M | +129,803 |
| Mirae Asset Global ETFS Holdings Ltd. | 3,286,960 | $27.5M | +105,664 |
| State of New Jersey Common Pension Fund A | 3,149,148 | $26.4M | 0 |
| TPG GP A, LLC | 2,392,863 | $20.0M | 0 |
| Gratia Capital, LLC | 2,067,333 | $17.3M | -634,416 |
| Geode Capital Management, LLC | 1,955,268 | $16.4M | +111,965 |
| State Street Corp. | 1,836,490 | $15.8M | -60,949 |
| Goldman Sachs Group Inc. | 1,516,270 | $12.7M | +315,085 |
Peers
Companies in the same industry.
- Welltower Inc. (WELL): revenue $13.8B, market value $170.7B
- Prologis, Inc. (PLD): revenue $9.4B, market value $121.7B
- Equinix Inc. (EQIX): revenue $10.1B, market value $102.6B
- American Tower Corp. (AMT): revenue $11.0B, market value $86.3B
- Simon Property Group Inc. (SPG): revenue $6.9B, market value $69.9B
- Digital Realty Trust, Inc. (DLR): revenue $6.8B, market value $67.8B
- Public Storage (PSA): revenue $5.0B, market value $59.3B
- Realty Income Corp. (O): revenue $6.1B, market value $54.1B
- Ventas, Inc. (VTR): revenue $6.8B, market value $44.3B
- Crown Castle Inc. (CCI): revenue –, market value $37.9B