Jennison Associates LLC Takes Position in TPG RE Finance Trust, Inc. $TRTX

Jennison Associates LLC bought a new position in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX) in the 1st quarter, Holdings Channel reports. The fund bought 170,302 shares of the company’s stock, valued at approximately $1,330,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TRTX. Van ECK Associates Corp raised its stake in TPG RE Finance Trust by 0.5% during the 3rd quarter. Van ECK Associates Corp now owns 530,776 shares of the company’s stock valued at $4,543,000 after acquiring an additional 2,379 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of TPG RE Finance Trust by 14.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,164 shares of the company’s stock valued at $187,000 after purchasing an additional 2,985 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of 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 purchasing an additional 3,013 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of TPG RE Finance Trust by 3.8% in the fourth quarter. Royal Bank of Canada now owns 90,818 shares of the company’s stock valued at $781,000 after purchasing an additional 3,311 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of TPG RE Finance Trust in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 57.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TRTX shares. JPMorgan Chase & Co. increased their price target on TPG RE Finance Trust from $9.50 to $10.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Citigroup reissued a “market outperform” rating on shares of TPG RE Finance Trust in a research note on Tuesday, June 9th. Weiss Ratings restated a “hold (c)” rating on shares of TPG RE Finance Trust in a research report on Friday, May 22nd. Finally, Zacks Research upgraded shares of TPG RE Finance Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.00.

TPG RE Finance Trust Stock Performance

NYSE TRTX opened at $8.66 on Thursday. The stock has a market capitalization of $669.89 million, a price-to-earnings ratio of 13.75, a PEG ratio of 1.77 and a beta of 1.40. The business’s 50 day moving average is $8.45 and its two-hundred day moving average is $8.48. TPG RE Finance Trust, Inc. has a 12-month low of $7.57 and a 12-month high of $9.85. 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 posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. TPG RE Finance Trust had a return on equity of 6.91% and a net margin of 19.38%.The business had revenue of $37.31 million during the quarter, compared to analysts’ expectations of $37.15 million. Research analysts expect that TPG RE Finance Trust, Inc. will post 0.93 EPS for the current year.

TPG RE Finance Trust Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, June 26th. This represents a $0.96 annualized dividend and a yield of 11.1%. TPG RE Finance Trust’s dividend payout ratio is presently 152.38%.

About TPG RE Finance Trust

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.