TPG RE Finance Trust (TRTX) Operating Expenses (2016 - 2026)

TPG RE Finance Trust's (TRTX) quarterly Operating Expenses came in at $910000.0 in Q1 2026, down 17.35% year-on-year from $1.1 million in Q1 2025, and down 23.08% quarter-over-quarter from $1.2 million in Q4 2025.

TPG RE Finance Trust (TRTX) Operating Expenses (2016 - 2026) Analysis & Trends

TPG RE Finance Trust's Operating Expenses history runs 11 years deep, the most recent figure standing at $910000.0 for Q1 2026.

  • On a quarterly basis, Operating Expenses fell 17.35% year-over-year to $910000.0 in Q1 2026; TTM through Mar 2026 was $4.1 million, a 6.83% decrease from a year earlier, with the FY2025 full-year figure at $4.3 million, changed 0.16% from the prior year.
  • Operating Expenses fell to $910000.0 in Q1 2026 per TRTX's latest filing, from $1.2 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $1.3 million in Q2 2023 and bottomed at $718000.0 in Q3 2023.
  • The 5-year median for Operating Expenses is $1.0 million (2024), against an average of $1.0 million.
  • Across the five-year window, Operating Expenses sank 40.02% in 2023 and surged 48.05% in 2024, its largest moves.
  • Year by year, Operating Expenses stood at $1.1 million in 2022, then fell by 10.52% to $970000.0 in 2023, then advanced by 6.08% to $1.0 million in 2024, then advanced by 14.97% to $1.2 million in 2025, then decreased by 23.08% to $910000.0 in 2026.
  • Per Business Quant, the three latest TRTX Operating Expenses figures stand at $910000.0 (Q1 2026), $1.2 million (Q4 2025), and $998000.0 (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Annaly Capital Management 16.30 Bn 14.44 Bn - 63.74 Mn
2 AGNC Investment 11.85 Bn 11.36 Bn - 34.00 Mn
3 Starwood Property Trust 5.99 Bn 5.94 Bn - 480.31 Mn
4 Rithm Capital 5.01 Bn 5.01 Bn - 1.24 Bn
5 Blackstone Mortgage Trust 2.78 Bn 2.24 Bn - 110.77 Mn
6 Ellington Financial 1.63 Bn 1.51 Bn - 80.37 Mn
7 Dynex Capital 1.56 Bn 1.05 Bn - 21.25 Mn
8 Armour Residential REIT 1.42 Bn 1.34 Bn - 17.16 Mn
9 Two Harbors Investment 1.27 Bn 987.19 Mn - 49.45 Mn
10 TPG RE Finance Trust 664.36 Mn 572.36 Mn - 910,000.00

Historic Data

Download Data
DateValue
Mar 31, 2026 910,000.00
Dec 31, 2025 1.18 Mn
Sep 30, 2025 998,000.00
Jun 30, 2025 989,000.00
Mar 31, 2025 1.10 Mn
Dec 31, 2024 1.03 Mn
Sep 30, 2024 1.06 Mn
Jun 30, 2024 1.19 Mn
Mar 31, 2024 986,000.00
Dec 31, 2023 970,000.00
Sep 30, 2023 718,000.00
Jun 30, 2023 1.26 Mn
Mar 31, 2023 896,000.00
Dec 31, 2022 1.08 Mn
Sep 30, 2022 1.20 Mn
Jun 30, 2022 949,000.00
Mar 31, 2022 1.17 Mn
Dec 31, 2021 1.11 Mn
Sep 30, 2021 1.17 Mn
Jun 30, 2021 1.08 Mn