TPG RE Finance Trust (NYSE:TRTX) Cut to Hold at Zacks Research

Zacks Research cut shares of TPG RE Finance Trust (NYSE:TRTX) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on TRTX. Weiss Ratings restated a “buy (b-)” rating on shares of TPG RE Finance Trust in a report on Monday. Citigroup downgraded shares of TPG RE Finance Trust to a “market perform” rating in a research report on Wednesday, September 17th. Citizens Jmp cut shares of TPG RE Finance Trust from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 17th. Wall Street Zen raised shares of TPG RE Finance Trust from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, JMP Securities reiterated a “market perform” rating on shares of TPG RE Finance Trust in a report on Wednesday, September 17th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, TPG RE Finance Trust presently has a consensus rating of “Hold” and an average target price of $10.75.

TPG RE Finance Trust Stock Performance

Shares of TPG RE Finance Trust stock opened at $8.62 on Monday. The firm has a fifty day moving average of $8.96 and a two-hundred day moving average of $8.77. The company has a debt-to-equity ratio of 2.61, a quick ratio of 166.64 and a current ratio of 166.64. The stock has a market capitalization of $674.60 million, a price-to-earnings ratio of 13.26, a PEG ratio of 2.04 and a beta of 1.54. 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 quarterly earnings results on Monday, June 6th. The company reported $0.27 earnings per share (EPS) for the quarter. The business had revenue of $40.06 million for the quarter. TPG RE Finance Trust had a return on equity of 6.37% and a net margin of 20.46%. As a group, equities research analysts predict that TPG RE Finance Trust will post 0.99 EPS for the current year.

TPG RE Finance Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, December 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $0.96 annualized dividend and a dividend yield of 11.1%. TPG RE Finance Trust’s dividend payout ratio is currently 147.69%.

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

Hedge Funds Weigh In On TPG RE Finance Trust

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of 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 valued at $12,660,000 after purchasing an additional 115,707 shares in the last quarter. Condor Capital Management lifted its stake in TPG RE Finance Trust by 33.7% in the 2nd quarter. Condor Capital Management now owns 620,539 shares of the company’s stock valued at $4,791,000 after acquiring an additional 156,309 shares in the last quarter. Caxton Associates LLP bought a new stake in TPG RE Finance Trust in the 1st quarter valued at approximately $706,000. Voya Investment Management LLC boosted its position in TPG RE Finance Trust by 40.4% during the 1st quarter. Voya Investment Management LLC now owns 90,391 shares of the company’s stock worth $737,000 after acquiring an additional 25,990 shares during the last quarter. Finally, Dimension Capital Management LLC boosted its position in TPG RE Finance Trust by 390.4% during the 2nd quarter. Dimension Capital Management LLC now owns 459,723 shares of the company’s stock worth $3,549,000 after acquiring an additional 365,971 shares during the last quarter. Institutional investors own 57.12% of the company’s stock.

TPG RE Finance Trust Company Profile

TPG RE Finance Trust, Inc (NYSE: TRTX) is a growth-oriented real estate finance company that originates and invests in a diversified portfolio of commercial real estate debt. The company’s primary business activities include the origination and acquisition of senior mortgage loans, mezzanine loans and preferred equity investments. These investments predominantly finance multifamily, office, industrial, retail and hospitality properties across the United States.

TPG RE Finance Trust pursues a flexible capital strategy, structuring transactions that range from first-lien floating-rate loans to subordinated debt and preferred equity.