TPG RE Finance Trust (NYSE:TRTX) Lowered to Market Perform Rating by Citizens Jmp

Citizens Jmp cut shares of TPG RE Finance Trust (NYSE:TRTX) from an outperform rating to a market perform rating in a research report released on Wednesday, Marketbeat reports.

TRTX has been the topic of several other reports. Wells Fargo & Company boosted their target price on shares of TPG RE Finance Trust from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Zacks Research upgraded shares of TPG RE Finance Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Finally, Wall Street Zen upgraded shares of TPG RE Finance Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TPG RE Finance Trust presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

TPG RE Finance Trust Stock Performance

NYSE:TRTX opened at $9.27 on Wednesday. The firm’s fifty day moving average price is $8.91 and its 200 day moving average price is $8.20. TPG RE Finance Trust has a 1-year low of $6.47 and a 1-year high of $9.85. The company has a debt-to-equity ratio of 2.75, a current ratio of 193.29 and a quick ratio of 193.29. The firm has a market cap of $728.53 million, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 2.49 and a beta of 1.68.

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 paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 10.4%. The ex-dividend date of this dividend is Friday, September 26th. TPG RE Finance Trust’s payout ratio is 147.69%.

TPG RE Finance Trust declared that its board has initiated a stock repurchase program on Thursday, September 4th that permits the company to buyback $25.00 million in 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 leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC raised its stake in shares of TPG RE Finance Trust by 473.7% during the 2nd quarter. CWM LLC now owns 3,517 shares of the company’s stock worth $27,000 after buying an additional 2,904 shares during the last quarter. Arlington Trust Co LLC acquired a new position in shares of TPG RE Finance Trust during the 1st quarter worth $41,000. BNP Paribas Financial Markets raised its stake in shares of TPG RE Finance Trust by 86.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company’s stock worth $50,000 after buying an additional 3,013 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of TPG RE Finance Trust by 249.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,818 shares of the company’s stock worth $53,000 after buying an additional 4,865 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of TPG RE Finance Trust by 24.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,998 shares of the company’s stock worth $54,000 after buying an additional 1,375 shares during the last quarter. Institutional investors and hedge funds 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.