JPMorgan Chase & Co. Raises TPG RE Finance Trust (NYSE:TRTX) Price Target to $10.50

TPG RE Finance Trust (NYSE:TRTX) had its price target raised by investment analysts at JPMorgan Chase & Co. from $10.00 to $10.50 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 21.36% from the stock’s previous close.

TRTX has been the subject of a number of other research reports. Wall Street Zen raised TPG RE Finance Trust from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Wells Fargo & Company increased their price objective on shares of 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. Citigroup downgraded shares of TPG RE Finance Trust to a “market perform” rating in a research report on Wednesday, September 17th. JMP Securities restated a “market perform” rating on shares of TPG RE Finance Trust in a research report on Wednesday, September 17th. Finally, Zacks Research downgraded shares of TPG RE Finance Trust from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.75.

TPG RE Finance Trust Trading Down 0.8%

NYSE:TRTX opened at $8.65 on Thursday. The company’s 50 day moving average price is $8.99 and its 200-day moving average price is $8.36. TPG RE Finance Trust has a 52 week low of $6.47 and a 52 week high of $9.85. The company has a quick ratio of 193.29, a current ratio of 166.64 and a debt-to-equity ratio of 2.61. The stock has a market cap of $677.11 million, a price-to-earnings ratio of 13.31, a PEG ratio of 2.32 and a beta of 1.68.

TPG RE Finance Trust (NYSE:TRTX) last posted its quarterly earnings results on Monday, June 6th. The company reported $0.27 EPS for the quarter. The firm had revenue of $40.06 million for the quarter. TPG RE Finance Trust had a net margin of 20.46% and a return on equity of 6.37%. On average, equities research analysts forecast that TPG RE Finance Trust will post 0.99 earnings per share for the current fiscal year.

TPG RE Finance Trust announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 4th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On TPG RE Finance Trust

Several hedge funds and other institutional investors have recently modified their holdings of TRTX. Vanguard Group Inc. lifted its position in shares of TPG RE Finance Trust by 1.7% during the first quarter. Vanguard Group Inc. now owns 5,025,832 shares of the company’s stock worth $40,961,000 after purchasing an additional 86,212 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in TPG RE Finance Trust by 5.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,930,865 shares of the company’s stock valued at $32,037,000 after buying an additional 192,126 shares during the period. Geode Capital Management LLC grew its stake in TPG RE Finance Trust by 7.6% in the second quarter. Geode Capital Management LLC now owns 1,639,667 shares of the company’s stock worth $12,660,000 after purchasing an additional 115,707 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in TPG RE Finance Trust by 9.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,454,008 shares of the company’s stock worth $11,225,000 after purchasing an additional 129,651 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in shares of TPG RE Finance Trust by 244.6% during the second quarter. Balyasny Asset Management L.P. now owns 980,198 shares of the company’s stock valued at $7,567,000 after buying an additional 695,728 shares during the period. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

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.