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

Zacks Research upgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.

TRTX has been the subject of several other research reports. Citigroup upgraded TPG RE Finance Trust from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 12th. Citizens Jmp raised TPG RE Finance Trust from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research report on Thursday, March 12th. Weiss Ratings cut TPG RE Finance Trust from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Wells Fargo & Company cut their price objective on TPG RE Finance Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, JPMorgan Chase & Co. cut their price objective on TPG RE Finance Trust from $10.50 to $9.50 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.83.

TPG RE Finance Trust Stock Performance

TRTX opened at $8.34 on Tuesday. The company has a market cap of $646.13 million, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.41 and a beta of 1.50. The stock has a 50-day moving average of $8.20 and a 200-day moving average of $8.68. TPG RE Finance Trust has a 52-week low of $7.16 and a 52-week high of $9.85. The company has a debt-to-equity ratio of 3.02, a quick ratio of 183.34 and a current ratio of 183.34.

TPG RE Finance Trust (NYSE:TRTX) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $35.04 million for the quarter, compared to the consensus estimate of $27.15 million. TPG RE Finance Trust had a return on equity of 6.84% and a net margin of 18.14%. As a group, equities research analysts forecast that TPG RE Finance Trust will post 0.96 earnings per share for the current fiscal year.

TPG RE Finance Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, March 27th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.96 annualized dividend and a yield of 11.5%. TPG RE Finance Trust’s dividend payout ratio is 171.43%.

Hedge Funds Weigh In On TPG RE Finance Trust

Several large investors have recently added to or reduced their stakes in TRTX. State of New Jersey Common Pension Fund A acquired a new position in TPG RE Finance Trust in the 3rd quarter valued at approximately $26,957,000. Balyasny Asset Management L.P. raised its holdings in TPG RE Finance Trust by 244.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 980,198 shares of the company’s stock valued at $7,567,000 after acquiring an additional 695,728 shares in the last quarter. Focus Partners Wealth acquired a new position in TPG RE Finance Trust in the 4th quarter valued at approximately $3,964,000. Millennium Management LLC raised its holdings in TPG RE Finance Trust by 2,595.3% in the 4th quarter. Millennium Management LLC now owns 358,749 shares of the company’s stock valued at $3,089,000 after acquiring an additional 345,439 shares in the last quarter. Finally, Norges Bank acquired a new position in TPG RE Finance Trust in the 4th quarter valued at approximately $2,264,000. Institutional investors and hedge funds own 57.12% of the company’s stock.

About TPG RE Finance Trust

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.