Brokerages Set TPG RE Finance Trust, Inc. (NYSE:TRTX) PT at $10.75

Shares of TPG RE Finance Trust, Inc. (NYSE:TRTX) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $10.75.

TRTX has been the topic of several research reports. Zacks Research raised TPG RE Finance Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Citigroup cut TPG RE Finance Trust to a “market perform” rating in a research note on Wednesday, September 17th. Wells Fargo & Company lifted 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. Wall Street Zen upgraded TPG RE Finance Trust from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, JMP Securities restated a “market perform” rating on shares of TPG RE Finance Trust in a research note on Wednesday, September 17th.

Institutional Investors Weigh In On TPG RE Finance Trust

Several institutional investors have recently made changes to their positions in TRTX. State of New Jersey Common Pension Fund A purchased a new stake in TPG RE Finance Trust during the third quarter worth $26,957,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in TPG RE Finance Trust by 3,783.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,324,357 shares of the company’s stock valued at $10,794,000 after buying an additional 1,290,256 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in TPG RE Finance Trust by 244.6% during the 2nd 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 last quarter. Dimension Capital Management LLC increased its position in TPG RE Finance Trust by 390.4% during the second quarter. Dimension Capital Management LLC now owns 459,723 shares of the company’s stock worth $3,549,000 after buying an additional 365,971 shares in the last quarter. Finally, Norges Bank purchased a new position in TPG RE Finance Trust during the second quarter worth $2,410,000. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

TPG RE Finance Trust Trading Down 0.2%

TPG RE Finance Trust stock opened at $8.92 on Thursday. The company has a market capitalization of $697.69 million, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 2.37 and a beta of 1.67. The stock has a 50-day moving average price of $8.95 and a 200 day moving average price of $8.43. The company has a quick ratio of 166.64, a current ratio of 166.64 and a debt-to-equity ratio of 2.61. TPG RE Finance Trust has a 52 week low of $6.47 and a 52 week high of $9.85.

TPG RE Finance Trust (NYSE:TRTX) last posted its earnings results on Monday, June 6th. The company reported $0.27 EPS 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. Sell-side analysts anticipate that TPG RE Finance Trust will post 0.99 EPS for the current year.

TPG RE Finance Trust Cuts Dividend

The firm also recently disclosed 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 10.8%. TPG RE Finance Trust’s payout ratio is currently 147.69%.

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

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.