TPG RE Finance Trust Target of Unusually Large Options Trading (NYSE:TRTX)

TPG RE Finance Trust, Inc. (NYSE:TRTX) saw some unusual options trading on Tuesday. Stock traders acquired 44,063 call options on the stock. This represents an increase of approximately 6,536% compared to the typical daily volume of 664 call options.

Analysts Set New Price Targets

Several research firms recently weighed in on TRTX. Wall Street Zen upgraded TPG RE Finance Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Wells Fargo & Company upped their price objective on TPG RE Finance Trust from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Zacks Research raised TPG RE Finance Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $9.50.

TPG RE Finance Trust Stock Performance

Shares of TPG RE Finance Trust stock opened at $9.28 on Wednesday. The stock’s fifty day moving average is $8.89 and its two-hundred day moving average is $8.19. The company has a market capitalization of $729.32 million, a PE ratio of 14.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.68. The company has a quick ratio of 193.29, a current ratio of 193.29 and a debt-to-equity ratio of 2.75. TPG RE Finance Trust has a 52 week low of $6.47 and a 52 week high of $9.85.

TPG RE Finance Trust declared that its board has initiated a share repurchase program on Thursday, September 4th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

TPG RE Finance Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, September 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.3%. TPG RE Finance Trust’s dividend payout ratio is presently 147.69%.

Hedge Funds Weigh In On TPG RE Finance Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of TPG RE Finance Trust by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 5,025,832 shares of the company’s stock worth $40,961,000 after buying an additional 86,212 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of TPG RE Finance Trust by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,930,865 shares of the company’s stock worth $32,037,000 after buying an additional 192,126 shares in the last quarter. Geode Capital Management LLC grew its position in shares of TPG RE Finance Trust by 7.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,639,667 shares of the company’s stock worth $12,660,000 after buying an additional 115,707 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of TPG RE Finance Trust by 23.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,585,600 shares of the company’s stock worth $13,478,000 after buying an additional 303,100 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of TPG RE Finance Trust by 9.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,454,008 shares of the company’s stock worth $11,225,000 after buying an additional 129,651 shares in the last quarter. Institutional investors own 57.12% of the company’s stock.

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.