TPG RE Finance Trust (NYSE:TRTX) Hits New 52-Week High After Analyst Upgrade

TPG RE Finance Trust, Inc. (NYSE:TRTX) shares hit a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $7.00 to $9.00. Wells Fargo & Company currently has an overweight rating on the stock. TPG RE Finance Trust traded as high as $8.81 and last traded at $8.80, with a volume of 39371 shares. The stock had previously closed at $8.60.

Other analysts have also issued reports about the stock. Bank of America reiterated an “underperform” rating and set a $6.50 target price on shares of TPG RE Finance Trust in a report on Monday, March 4th. Raymond James lowered TPG RE Finance Trust from a “strong-buy” rating to an “outperform” rating and set a $8.50 price objective on the stock. in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. boosted their target price on TPG RE Finance Trust from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of TPG RE Finance Trust by 3,051.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 935,165 shares of the company’s stock worth $6,294,000 after purchasing an additional 905,492 shares during the period. Acadian Asset Management LLC purchased a new position in shares of TPG RE Finance Trust during the 3rd quarter worth $1,203,000. Los Angeles Capital Management LLC bought a new stake in shares of TPG RE Finance Trust during the 1st quarter valued at $952,000. Evoke Wealth LLC increased its stake in shares of TPG RE Finance Trust by 183.0% in the 4th quarter. Evoke Wealth LLC now owns 182,710 shares of the company’s stock worth $1,231,000 after purchasing an additional 118,149 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in TPG RE Finance Trust by 9.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,230,218 shares of the company’s stock worth $7,996,000 after purchasing an additional 108,106 shares during the period. Institutional investors own 57.12% of the company’s stock.

TPG RE Finance Trust Stock Up 2.4 %

The company has a 50-day moving average of $7.62 and a two-hundred day moving average of $6.60. The company has a debt-to-equity ratio of 2.25, a current ratio of 138.05 and a quick ratio of 138.05. The company has a market capitalization of $686.03 million, a PE ratio of -5.61 and a beta of 2.10.

TPG RE Finance Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Thursday, March 28th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 10.90%. TPG RE Finance Trust’s payout ratio is -61.15%.

TPG RE Finance Trust Company Profile

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.