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

TPG RE Finance Trust (TRTX) reported Operating Expenses of $910000.0 for Q1 2026, down 17.35% on a YoY basis 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 has reported Operating Expenses for 11 years, with the latest figure at $910000.0 in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses fell 17.35% year-over-year to $910000.0; the trailing twelve-month figure through Mar 2026 stood at $4.1 million (down 6.83% YoY), and the FY2025 full-year result was $4.3 million, changed 0.16% from the prior year.
  • Operating Expenses for Q1 2026 stood at $910000.0, down from $1.2 million in the prior quarter.
  • The five-year high for Operating Expenses was $1.3 million in Q2 2023, with the low at $718000.0 in Q3 2023.
  • Historically, Operating Expenses has averaged $1.0 million across 5 years, with a median of $1.0 million in 2024.
  • Annual changes were most pronounced in 2023 — Operating Expenses sank 40.02% — and 2024, when it soared 48.05%.
  • TPG RE Finance Trust's Operating Expenses stood at $1.1 million in 2022, then declined by 10.52% to $970000.0 in 2023, then gained by 6.08% to $1.0 million in 2024, then gained by 14.97% to $1.2 million in 2025, then retreated by 23.08% to $910000.0 in 2026.
  • The last three Operating Expenses figures came in at $910000.0 (Q1 2026), $1.2 million (Q4 2025), and $998000.0 (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Annaly Capital Management 15.34 Bn 13.08 Bn - 63.74 Mn
2 AGNC Investment 11.42 Bn 10.75 Bn - 34.00 Mn
3 Starwood Property Trust 6.25 Bn 6.25 Bn - 480.31 Mn
4 Rithm Capital 5.08 Bn 4.78 Bn - 1.24 Bn
5 Blackstone Mortgage Trust 3.10 Bn 2.56 Bn - 110.77 Mn
6 Dynex Capital 2.58 Bn 1.80 Bn - 21.25 Mn
7 Armour Residential REIT 2.05 Bn 1.32 Bn - 15.35 Mn
8 Ellington Financial 1.67 Bn 1.39 Bn - 80.37 Mn
9 Two Harbors Investment 1.29 Bn 746.67 Mn - 49.45 Mn
10 TPG RE Finance Trust 665.15 Mn 573.15 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