TPG RE Finance Trust (NYSE:TRTX) Upgraded at Zacks Research

Zacks Research upgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company upped their target price on TPG RE Finance Trust from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Citizens Jmp downgraded shares of TPG RE Finance Trust from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 17th. JMP Securities reiterated a “market perform” rating on shares of TPG RE Finance Trust in a research note on Wednesday, September 17th. Citigroup downgraded shares of TPG RE Finance Trust to a “market perform” rating in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of TPG RE Finance Trust from $10.00 to $10.50 and gave the company an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

TPG RE Finance Trust Stock Performance

Shares of TPG RE Finance Trust stock opened at $8.65 on Thursday. TPG RE Finance Trust has a 12 month low of $6.47 and a 12 month 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 PE ratio of 13.31, a price-to-earnings-growth ratio of 2.30 and a beta of 1.68. The business has a fifty day simple moving average of $8.99 and a 200-day simple moving average of $8.37.

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

TPG RE Finance Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, September 26th were paid a $0.24 dividend. The ex-dividend date was Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a yield of 11.1%. TPG RE Finance Trust’s payout ratio is 147.69%.

TPG RE Finance Trust announced that its board has approved a stock buyback program on Thursday, September 4th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in TPG RE Finance Trust by 1.7% in 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 in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in TPG RE Finance Trust by 141.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 122,486 shares of the company’s stock valued at $998,000 after buying an additional 71,845 shares in the last quarter. Bracebridge Capital LLC acquired a new stake in shares of TPG RE Finance Trust in the first quarter worth about $1,166,000. Caxton Associates LLP bought a new stake in shares of TPG RE Finance Trust during the 1st quarter worth about $706,000. Finally, Nuveen LLC bought a new stake in shares of TPG RE Finance Trust during the 1st quarter worth about $1,321,000. 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.