Enables several functions, including activin binding activity; growth factor binding activity; and heparin binding activity. Involved in several processes, including animal organ regeneration; regulation of transforming growth factor beta receptor signaling pathway; and transforming growth factor beta receptor complex assembly. Located in cytoplasm; extracellular matrix; and extracellular space. Is integral component of plasma membrane. Part of receptor complex. Orthologous to human TGFBR3 (transforming growth factor beta receptor 3). [provided by Alliance of Genome Resources, Apr 2022]