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 profile
Ticker
TRTX, TRTX+C
Exchange
Website
CEO
Greta Guggenheim
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
TPG RE Finance, Ltd. • TPG RE Finance • TPG RE Finance, LLC • TRT Securities 1, LLC • TRT Securities 2, LLC • TRT Securities 3, LLC • TRT Securities 4, LLC • TRT Securities 5, LLC • TRTX CLO Loan Seller 2, LLC • TRTX 2018-FL2 Retention Holder, LLC ...
TRTX stock data
Latest filings (excl ownership)
8-K
Submission of Matters to a Vote of Security Holders
15 May 24
8-K
Results of Operations and Financial Condition
30 Apr 24
10-Q
2024 Q1
Quarterly report
30 Apr 24
ARS
2023 FY
Annual report to shareholders
3 Apr 24
DEFA14A
Additional proxy soliciting materials
3 Apr 24
DEF 14A
Definitive proxy
3 Apr 24
8-K
Results of Operations and Financial Condition
20 Feb 24
10-K
2023 FY
Annual report
20 Feb 24
8-K
Regulation FD Disclosure
3 Jan 24
8-K
Departure of Directors or Certain Officers
15 Dec 23
Transcripts
TRTX
Earnings call transcript
2024 Q1
1 May 24
TRTX
Earnings call transcript
2023 Q4
21 Feb 24
TRTX
Earnings call transcript
2023 Q3
1 Nov 23
TRTX
Earnings call transcript
2023 Q2
2 Aug 23
TRTX
Earnings call transcript
2023 Q1
3 May 23
TRTX
Earnings call transcript
2022 Q4
22 Feb 23
TRTX
Earnings call transcript
2022 Q3
2 Nov 22
TRTX
Earnings call transcript
2022 Q2
3 Aug 22
TRTX
Earnings call transcript
2022 Q1
4 May 22
TRTX
Earnings call transcript
2021 Q4
23 Feb 22
Latest ownership filings
4
BARRY S STERNLICHT
10 May 24
4
Change in insider ownership
10 May 24
SC 13D/A
STARWOOD CAPITAL GROUP GLOBAL II, L.P.
10 May 24
4
Michael Gillmore
29 Apr 24
4
GREGORY WHITE
29 Apr 24
4
WENDY SILVERSTEIN
29 Apr 24
4
Michael Bradley Smith
29 Apr 24
4
Todd Schuster
29 Apr 24
SC 13G/A
Nan Shan Life Insurance Co., Ltd.
14 Feb 24
SC 13G/A
VANGUARD GROUP INC
13 Feb 24
Financial summary
Quarter (USD) | Mar 24 | Dec 23 | Sep 23 | Jun 23 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 23 | Dec 22 | Dec 21 | Dec 20 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 203.36 mm | 203.36 mm | 203.36 mm | 203.36 mm | 203.36 mm | 203.36 mm |
Cash burn (monthly) | 1.22 mm | (no burn) | (no burn) | 8.90 mm | (no burn) | (no burn) |
Cash used (since last report) | 2.52 mm | n/a | n/a | 18.42 mm | n/a | n/a |
Cash remaining | 200.84 mm | n/a | n/a | 184.95 mm | n/a | n/a |
Runway (months of cash) | 164.8 | n/a | n/a | 20.8 | n/a | n/a |
Institutional ownership, Q4 2023
16.7% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 11 |
Opened positions | 0 |
Closed positions | 109 |
Increased positions | 2 |
Reduced positions | 7 |
13F shares | Current |
---|---|
Total value | 6.33 bn |
Total shares | 13.00 mm |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Starwood Capital Group Global Ii | 12.00 mm | $90.12 mm |
Mirae Asset Global Investments | 856.31 k | $5.57 bn |
SG Americas Securities | 35.40 k | $230.00 k |
Nisa Investment Advisors | 26.61 k | $172.95 mm |
Raymond James Financial Services Advisors | 25.47 k | $165.54 mm |
Raymond James & Associates | 23.40 k | $152.09 mm |
Arizona State Retirement System | 16.30 k | $105.93 mm |
Wiley Bros.-aintree Capital | 10.32 k | $67.10 mm |
IFP Advisors | 1.20 k | $7.80 mm |
AdvisorNet Financial | 32.00 | $209.00 k |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
8 May 24 | Starwood Capital Group Global Ii | Common Stock | Sell | Dispose S | No | No | 8.84 | 9,352,941 | 82.68 mm | 2,647,059 |
8 May 24 | Starwood Capital Group Global Ii | Common Stock | Acquire X | No | No | 6.89 | 12,000,000 | 82.68 mm | 12,000,000 | |
8 May 24 | Starwood Capital Group Global Ii | Warrants Common Stock | Dispose X | No | No | 6.89 | 12,000,000 | 82.68 mm | 0 | |
8 May 24 | Holder, L.L.Cc PE | Common Stock | Sell | Dispose S | No | No | 8.84 | 9,352,941 | 82.68 mm | 2,647,059 |
8 May 24 | Holder, L.L.Cc PE | Common Stock | Acquire X | No | No | 6.89 | 12,000,000 | 82.68 mm | 12,000,000 | |
8 May 24 | Holder, L.L.Cc PE | Warrants Common Stock | Dispose X | No | No | 6.89 | 12,000,000 | 82.68 mm | 0 | |
25 Apr 24 | Gillmore Michael | Common Stock | Grant | Acquire A | No | No | 7.72 | 936 | 7.23 k | 62,122 |
25 Apr 24 | White Gregory | Common Stock | Grant | Acquire A | No | No | 7.72 | 936 | 7.23 k | 62,122 |
25 Apr 24 | Silverstein Wendy | Common Stock | Grant | Acquire A | No | No | 7.72 | 936 | 7.23 k | 62,122 |
News
Mortgage Applications Climb For Third Week As 30-Year Interest Rates Drop
22 May 24
Evaluating TPG RE Finance Trust: Insights From 5 Financial Analysts
7 May 24
Wells Fargo Maintains Overweight on TPG RE Finance Trust, Raises Price Target to $9
7 May 24
TPG RE Finance Trust Surpasses Q1 Earnings and Revenue Estimates
1 May 24
TPG RE Finance Trust Q1 2024 Adj EPS $0.30 Beats $0.18 Estimate, Sales $38.927M Beat $23.180M Estimate
30 Apr 24