TPG RE Finance Trust, Inc. (TRTX)

Over the past six months, TRTX closed two CRE CLOs, TRTX 2025-FL7 and TRTX 2025-FL6, generating net cash proceeds and leading to the redemption of TRTX 2021-FL4 and TRTX 2019-FL3, respectively. In Q3 2025, TRTX reported GAAP Net Income of $18.7 million, originated $279.2 million in loan commitments, out-earned its common stock dividend, and repurchased $9.3 million of common stock. In Q2 2025, the company reported GAAP Net Income of $16.9 million, or $0.21 per common share, with distributable earnings covering the quarterly dividend. In Q1 2025, TRTX reported GAAP net income of $10 million, or $0.12 per common share, with distributable earnings matching the quarterly dividend. In Q4 2024, the company out-earned its annual common stock dividend rate of $0.96 per share and maintained a 100% performing loan portfolio. TRTX's share price appreciated by 31.2% year-to-date through Q3 2024, and as of early January 2026, the share price showed an increase of 3.16% over the past year.

Information explicitly detailing demand seasonality for TPG RE Finance Trust, Inc.'s products and services is not available. There is no specific mention of seasonal fluctuations in demand for TRTX's loan originations or other debt investments, although the commercial real estate market can experience cyclicality.

TPG RE Finance Trust, Inc. (TRTX) is a commercial real estate finance company established in 2015, operating as a Mortgage REIT. The company aims to generate risk-adjusted returns by investing in a diversified portfolio of commercial real estate-related debt investments, focusing on originating, acquiring, and managing various loans and debt instruments. TRTX also invests in commercial real estate CLOs and CMBS across multiple sectors and is externally managed by TPG RE Finance Trust Management, L.P., an affiliate of TPG.

TRTX has a strong market presence in financing transactions across various property types and geographic regions throughout the United States. It primarily focuses on institutional properties located in primary and select secondary markets within the U.S.

TPG RE Finance Trust, Inc. maintains a positive brand reputation due to its consistent financial performance and strategic positioning in the commercial real estate finance market. Recent earnings summaries highlight positive attributes such as "bullish signals," "robust liquidity," "stable credit quality," and a "well-managed loan portfolio." The company is considered a reliable and strategic partner in the commercial real estate finance landscape.

Institutional investors hold a significant majority of TRTX's common stock, approximately 79.42% to 84.66%. Major institutional owners include Long Pond Capital, LP, BlackRock, Inc., Goldman Sachs Group Inc, Vanguard Group Inc, State of New Jersey Common Pension Fund A, Morgan Stanley, Citadel Advisors Llc, Nan Shan Life Insurance Co., Ltd., Tpg Gp A, Llc, and Gratia Capital, LLC.