Headquartered in New York, NY Fiscal year ends December NYSE: TRTX tpgrefinance.com
TPG RE Finance Trust, Inc. (NYSE: TRTX) is a commercial real estate finance company that originates, acquires, and manages primarily first mortgage loans secured by institutional properties located in primary and select secondary markets in the United States. The company's loan portfolio totals approximately $4.5 billion in commitments, with multifamily and industrial assets representing 76.4% of exposure, complemented by hotel, life science, office, mixed-use, and self-storage loans. TRTX is structured as a REIT and is externally managed by TPG RE Finance Trust Management, L.P., part of the real estate investment platform of global alternative asset management firm TPG Inc. (NASDAQ: TPG). The company finances its loan portfolio through a diversified mix of collateralized loan obligations, secured credit agreements, asset-specific financings, a term loan, and a corporate revolver, with 85.2% of borrowings in non-mark-to-market structures. TRTX also holds a real estate owned portfolio consisting of office and multifamily properties acquired through foreclosure, with a carrying value of approximately $236.8 million. The company's floating-rate-focused portfolio (99.7% floating rate) generates net interest income as its primary revenue source, and it targets an annualized dividend yield supported by distributable earnings. Updated
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TPG RE Finance Trust, Inc. (NYSE: TRTX) is a commercial real estate finance company that originates, acquires, and manages primarily first mortgage loans secured by institutional properties located in primary and select secondary markets in the United States.
The Wall Street consensus 12-month price target for TRTX is $9.88.
