TPG RE Finance Trust’s (TRTX) Market Perform Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of TPG RE Finance Trust (NYSE:TRTX) in a report released on Wednesday morning,Benzinga reports.

Other analysts have also issued research reports about the stock. Wall Street Zen raised shares of TPG RE Finance Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Wells Fargo & Company upped their price objective on shares of TPG RE Finance Trust from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Zacks Research upgraded shares of TPG RE Finance Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Finally, Citizens Jmp lowered shares of TPG RE Finance Trust from an “outperform” rating to a “market perform” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.50.

TPG RE Finance Trust Stock Down 1.1%

TPG RE Finance Trust stock opened at $9.24 on Wednesday. The stock has a market cap of $725.78 million, a PE ratio of 14.21, a price-to-earnings-growth ratio of 2.51 and a beta of 1.68. The company has a debt-to-equity ratio of 2.75, a quick ratio of 193.29 and a current ratio of 193.29. TPG RE Finance Trust has a fifty-two week low of $6.47 and a fifty-two week high of $9.85. The firm’s 50-day simple moving average is $8.96 and its 200 day simple moving average is $8.21.

TPG RE Finance Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend is Friday, September 26th. TPG RE Finance Trust’s payout ratio is presently 147.69%.

TPG RE Finance Trust declared that its board has approved a stock repurchase program on Thursday, September 4th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of TPG RE Finance Trust

Several hedge funds have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of TPG RE Finance Trust by 395.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 14,383 shares of the company’s stock valued at $111,000 after acquiring an additional 11,481 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of TPG RE Finance Trust by 249.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,818 shares of the company’s stock worth $53,000 after acquiring an additional 4,865 shares during the period. Vident Advisory LLC increased its position in shares of TPG RE Finance Trust by 77.2% during the 2nd quarter. Vident Advisory LLC now owns 25,633 shares of the company’s stock worth $198,000 after purchasing an additional 11,166 shares during the last quarter. Modern Wealth Management LLC acquired a new position in TPG RE Finance Trust in the 2nd quarter valued at about $161,000. Finally, BNP Paribas Financial Markets grew its position in TPG RE Finance Trust by 86.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company’s stock valued at $50,000 after acquiring an additional 3,013 shares in the last quarter. 57.12% of the stock is owned by hedge funds and other institutional investors.

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.