TPG RE Finance Trust, Inc. $TRTX Stake Lessened by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its holdings in TPG RE Finance Trust, Inc. (NYSE:TRTX) by 28.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 118,013 shares of the company’s stock after selling 47,407 shares during the quarter. Teacher Retirement System of Texas’ holdings in TPG RE Finance Trust were worth $911,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TRTX. Penserra Capital Management LLC lifted its stake in TPG RE Finance Trust by 21.1% in the 1st quarter. Penserra Capital Management LLC now owns 125,910 shares of the company’s stock worth $1,026,000 after acquiring an additional 21,898 shares in the last quarter. Arizona State Retirement System lifted its position in shares of TPG RE Finance Trust by 20.0% in the first quarter. Arizona State Retirement System now owns 19,731 shares of the company’s stock worth $161,000 after purchasing an additional 3,290 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of TPG RE Finance Trust by 141.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 122,486 shares of the company’s stock worth $998,000 after purchasing an additional 71,845 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in TPG RE Finance Trust during the first quarter valued at approximately $489,000. Finally, Jupiter Asset Management Ltd. increased its stake in TPG RE Finance Trust by 320.4% in the 1st quarter. Jupiter Asset Management Ltd. now owns 92,733 shares of the company’s stock valued at $756,000 after buying an additional 70,676 shares during the period. 57.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Zacks Research raised shares of TPG RE Finance Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Citigroup downgraded shares of TPG RE Finance Trust to a “market perform” rating in a research note on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price objective on TPG RE Finance Trust from $10.00 to $10.50 and gave the company an “overweight” rating in a research report on Thursday, October 30th. JMP Securities restated a “market perform” rating on shares of TPG RE Finance Trust in a research note on Wednesday, September 17th. Finally, Wall Street Zen raised TPG RE Finance Trust from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, TPG RE Finance Trust presently has a consensus rating of “Moderate Buy” and an average price target of $10.75.

TPG RE Finance Trust Stock Performance

TRTX opened at $8.94 on Friday. The company has a market cap of $699.25 million, a PE ratio of 13.75, a price-to-earnings-growth ratio of 2.41 and a beta of 1.67. The stock has a 50-day moving average of $8.96 and a 200-day moving average of $8.41. TPG RE Finance Trust, Inc. has a 52-week low of $6.47 and a 52-week high of $9.85. The company has a debt-to-equity ratio of 2.61, a quick ratio of 166.64 and a current ratio of 166.64.

TPG RE Finance Trust (NYSE:TRTX) last issued its quarterly earnings data on Monday, June 6th. The company reported $0.27 earnings per share for the quarter. The business had revenue of $40.06 million for the quarter. TPG RE Finance Trust had a return on equity of 6.37% and a net margin of 20.46%. As a group, equities research analysts forecast that TPG RE Finance Trust, Inc. will post 0.99 earnings per share for the current fiscal year.

TPG RE Finance Trust declared that its board has initiated a share repurchase plan 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 plans are generally a sign 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 was paid on Friday, October 24th. Stockholders of record on Friday, September 26th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date was Friday, September 26th. TPG RE Finance Trust’s payout ratio is presently 147.69%.

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.