TPG RE Finance Trust (NYSE:TRTX) Hits New 1-Year High After Analyst Upgrade

TPG RE Finance Trust, Inc. (NYSE:TRTX) shares hit a new 52-week high during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $7.00 to $9.00. Wells Fargo & Company currently has an overweight rating on the stock. TPG RE Finance Trust traded as high as $8.81 and last traded at $8.80, with a volume of 39371 shares traded. The stock had previously closed at $8.60.

Other research analysts have also issued reports about the company. Bank of America reiterated an “underperform” rating and set a $6.50 price objective on shares of TPG RE Finance Trust in a research note on Monday, March 4th. Raymond James downgraded shares of TPG RE Finance Trust from a “strong-buy” rating to an “outperform” rating and set a $8.50 price target for the company. in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of TPG RE Finance Trust from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.10.

Institutional Investors Weigh In On TPG RE Finance Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TFO Wealth Partners LLC increased its holdings in shares of TPG RE Finance Trust by 35,280.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,076 shares of the company’s stock valued at $46,000 after purchasing an additional 7,056 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of TPG RE Finance Trust during the third quarter worth $70,000. Quantbot Technologies LP acquired a new stake in TPG RE Finance Trust in the third quarter worth about $80,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TPG RE Finance Trust by 51.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,186 shares of the company’s stock valued at $99,000 after purchasing an additional 5,128 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of TPG RE Finance Trust by 1,094.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,657 shares of the company’s stock worth $102,000 after buying an additional 14,346 shares during the period. Institutional investors and hedge funds own 57.12% of the company’s stock.

TPG RE Finance Trust Stock Performance

The firm has a market capitalization of $689.15 million, a P/E ratio of -5.64 and a beta of 2.10. The company has a debt-to-equity ratio of 2.25, a current ratio of 138.05 and a quick ratio of 138.05. The stock’s 50 day moving average is $7.65 and its two-hundred day moving average is $6.62.

TPG RE Finance Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Thursday, March 28th were given a $0.24 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 10.85%. TPG RE Finance Trust’s dividend payout ratio is currently -61.15%.

About TPG RE Finance Trust

TPG RE Finance Trust, Inc, a commercial real estate finance company, originates, acquires, and manages commercial mortgage loans and other commercial real estate-related debt instruments in the United States. It invests in commercial mortgage loans; subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments; and commercial real estate collateralized loan obligations and commercial mortgage-backed securities secured by properties primarily in the multifamily, life science, mixed-use, hospitality, self storage, industrial, and retail real estate sectors.