TPG RE Finance Trust, Inc. (NYSE:TRTX) Receives Average Recommendation of “Hold” from Analysts

Shares of TPG RE Finance Trust, Inc. (NYSE:TRTX) have earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $9.50.

A number of research analysts have weighed in on the stock. 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 research report on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TPG RE Finance Trust in a research note on Wednesday. Zacks Research downgraded TPG RE Finance Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Citizens Jmp lowered shares of TPG RE Finance Trust from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 17th. Finally, Citigroup cut shares of TPG RE Finance Trust to a “market perform” rating in a research report on Wednesday, September 17th.

TPG RE Finance Trust Stock Down 1.1%

Shares of TRTX stock opened at $8.44 on Friday. TPG RE Finance Trust has a twelve month low of $6.47 and a twelve month high of $9.85. The stock has a market cap of $663.30 million, a P/E ratio of 12.98, a P/E/G ratio of 2.27 and a beta of 1.68. The stock has a 50 day moving average of $9.07 and a 200 day moving average of $8.23. The company has a current ratio of 193.29, a quick ratio of 193.29 and a debt-to-equity ratio of 2.75.

TPG RE Finance Trust (NYSE:TRTX) last posted its earnings results on Monday, June 6th. The company reported $0.27 earnings per share for the quarter. TPG RE Finance Trust had a net margin of 21.09% and a return on equity of 6.61%. The firm had revenue of $40.06 million during the quarter. As a group, sell-side analysts expect that TPG RE Finance Trust will post 0.99 EPS for the current year.

TPG RE Finance Trust announced that its board has initiated a stock buyback program on Thursday, September 4th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

TPG RE Finance Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, September 26th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 11.4%. The ex-dividend date is Friday, September 26th. TPG RE Finance Trust’s payout ratio is presently 147.69%.

Institutional Trading of TPG RE Finance Trust

A number of institutional investors have recently made changes to their positions in TRTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of TPG RE Finance Trust by 3,783.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,324,357 shares of the company’s stock worth $10,794,000 after purchasing an additional 1,290,256 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of TPG RE Finance Trust by 244.6% during the second quarter. Balyasny Asset Management L.P. now owns 980,198 shares of the company’s stock worth $7,567,000 after buying an additional 695,728 shares in the last quarter. Dimension Capital Management LLC raised its position in shares of TPG RE Finance Trust by 390.4% in the second quarter. Dimension Capital Management LLC now owns 459,723 shares of the company’s stock valued at $3,549,000 after buying an additional 365,971 shares during the last quarter. Norges Bank purchased a new position in shares of TPG RE Finance Trust in the second quarter worth about $2,410,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of TPG RE Finance Trust by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,930,865 shares of the company’s stock worth $32,037,000 after buying an additional 192,126 shares in the last quarter. 57.12% of the stock is owned by institutional investors and hedge funds.

About TPG RE Finance Trust

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.