TPG RE Finance Trust Inc (NYSE:TRTX)
$ 8.6 0.02 (0.23%) Market Cap: 690.03 Mil Enterprise Value: 3.14 Bil PE Ratio: 0 PB Ratio: 0.60 GF Score: 53/100

TPG RE Finance Trust Inc at NAREIT REITweek: Investor Conference Transcript

Jun 06, 2023 / 07:45PM GMT
Release Date Price: $7.22 (+4.18%)
Steven DeLaney
JMP Securities - Analyst

Good afternoon, everyone, and thank you for joining our panel discussion featuring TPG RE Finance Trust. I'm Steven DeLaney, a Managing Director at JMP Securities, now a Citizens company where I served as Director of Mortgage and Real Estate Finance Equity Research. With a strong assist from my commercial research partner, Chris Muller, CFA, we're pleased to cover TPG RE as well as 22 other names that comprise the 23-company public commercial mortgage REIT universe.

This group of CM REITs collectively manages total assets of over 140 billion and has an aggregate common equity market capitalization of about 22 billion. TPG RE trades on the NYSE with the ticker, TRTX; has a current market cap of about $500 million and a senior floating rate CRE loan portfolio of right at $5 billion as of March 31.

The company was founded as a private REIT in late 2014 when TPG acquired a $2.5 billion special [sits] CRE loan portfolio from Deutsche Bank. And in July of 2017, the company completed an initial public offering, which I remember well; some other folks in

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