TPG RE Finance Trust

TRTX · NYSE

$5.86−$0.05 (−0.85%)TodayMarket closed · Oct 21, 4:35 AM ET

Prev close $5.91

TRTX analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 8 analysts

Average $10.05 (+71.5% upside)

Low: $8.33
Now: $5.86
High: $11.55

Upgrades and downgrades

The latest rating actions, newest first

TRTX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Jul 17, 2026	Maintains	Overweight	$9.50 → $10.00	56%
JP Morgan	Apr 16, 2026	Maintains	Overweight	$10.50 → $9.50	56%
Citizens	Mar 12, 2026	Upgrade	Market Perform → Market Outperform	$10.00	0%
JP Morgan	Feb 19, 2026	Maintains	Overweight	$11.00 → $10.50	56%
Wells Fargo	Feb 19, 2026	Maintains	Overweight	$11.00 → $10.00	56%
JP Morgan	Oct 30, 2025	Maintains	Overweight	$10.00 → $10.50	56%

The case for and against

Updated Feb 9, 2026

Bull case

TPG RE Finance Trust Inc.'s portfolio experienced significant growth, reaching $3.8 billion as of June 30, reflecting a 15.5% increase from March 31. Despite an increase in leverage, with the debt-to-equity ratio rising to 2.63x, the company's ability to outperform the commercial mortgage real estate investment trust (CMREIT) peer group indicates strong market positioning, as its shares rose 20.1% since June 30, contrasting sharply with a 3.2% median gain in the peer group. This combination of portfolio growth and superior stock performance suggests a positive outlook for the company, as it continues to focus on first mortgage loans secured by high-quality commercial real estate.

Bear case

The financial outlook for TPG RE Finance Trust Inc. is marred by the potential for a significant decline in commercial real estate property values, which poses risks such as the inability to accrue interest on at-risk loans and possible principal losses from foreclosures. Additionally, an economic downturn or recession could lead to a contraction in CRE property sale transactions, resulting in fewer new lending opportunities and increased delays in borrower plans, ultimately jeopardizing the credit performance of the existing loan portfolio. This environment threatens to diminish the collateral cushion supporting the company's loans and may lead to a reduced demand for new loans from borrowers, further compounding the financial risks faced by the firm.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.