TPG RE Finance Trust (NYSE:TRTX) Price Target Raised to $10.00 at JPMorgan Chase & Co.

TPG RE Finance Trust (NYSE:TRTX) had its target price upped by JPMorgan Chase & Co. from $9.50 to $10.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on TRTX. Weiss Ratings restated a “hold (c)” rating on shares of TPG RE Finance Trust in a research report on Friday, May 22nd. Citigroup reissued a “market outperform” rating on shares of TPG RE Finance Trust in a research note on Tuesday, June 9th. Finally, Zacks Research raised TPG RE Finance Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.00.

TPG RE Finance Trust Price Performance

Shares of NYSE:TRTX opened at $8.76 on Friday. The firm’s 50 day moving average is $8.43 and its two-hundred day moving average is $8.49. TPG RE Finance Trust has a 52 week low of $7.57 and a 52 week high of $9.85. The firm has a market capitalization of $676.85 million, a P/E ratio of 13.90, a PEG ratio of 1.79 and a beta of 1.40. The company has a current ratio of 201.40, a quick ratio of 201.40 and a debt-to-equity ratio of 3.11.

TPG RE Finance Trust (NYSE:TRTX) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. The company had revenue of $37.31 million for the quarter, compared to analysts’ expectations of $37.15 million. TPG RE Finance Trust had a return on equity of 6.91% and a net margin of 19.38%. Analysts anticipate that TPG RE Finance Trust will post 0.93 earnings per share for the current year.

TPG RE Finance Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, June 26th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date is Friday, June 26th. TPG RE Finance Trust’s dividend payout ratio is 152.38%.

Hedge Funds Weigh In On TPG RE Finance Trust

Hedge funds have recently modified their holdings of the company. Empowered Funds LLC acquired a new stake in shares of TPG RE Finance Trust in the first quarter valued at $217,000. Quantinno Capital Management LP boosted its stake in TPG RE Finance Trust by 30.0% during the first quarter. Quantinno Capital Management LP now owns 19,644 shares of the company’s stock valued at $153,000 after buying an additional 4,537 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in TPG RE Finance Trust by 60.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 929,566 shares of the company’s stock worth $7,260,000 after acquiring an additional 350,020 shares during the period. Jennison Associates LLC acquired a new position in TPG RE Finance Trust during the first quarter worth about $1,330,000. Finally, Y Intercept Hong Kong Ltd raised its position in TPG RE Finance Trust by 318.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 136,659 shares of the company’s stock worth $1,067,000 after acquiring an additional 103,986 shares in the last quarter. 57.12% of the stock is currently owned by institutional investors and hedge funds.

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.