TPG RE Finance Trust, Inc.’s Lock-Up Period Set To End on January 16th (NYSE:TRTX)
TPG RE Finance Trust’s (NYSE:TRTX) lock-up period will end on Tuesday, January 16th. TPG RE Finance Trust had issued 11,000,000 shares in its IPO on July 20th. The total size of the offering was $220,000,000 based on an initial share price of $20.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
Several analysts have commented on TRTX shares. Zacks Investment Research upgraded TPG RE Finance Trust from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Thursday, October 26th. Citigroup restated a “neutral” rating and issued a $22.00 price target on shares of TPG RE Finance Trust in a report on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. TPG RE Finance Trust currently has a consensus rating of “Buy” and a consensus target price of $21.33.
Shares of TPG RE Finance Trust (NYSE TRTX) opened at $18.87 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 10.75 and a quick ratio of 10.75. TPG RE Finance Trust has a fifty-two week low of $18.61 and a fifty-two week high of $20.70.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.06%. The ex-dividend date of this dividend is Thursday, December 28th.
In other news, CEO Greta Guggenheim bought 10,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was acquired at an average price of $19.19 per share, for a total transaction of $191,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Large investors have recently modified their holdings of the company. Boothbay Fund Management LLC purchased a new stake in shares of TPG RE Finance Trust during the 3rd quarter worth about $275,000. California State Teachers Retirement System purchased a new stake in shares of TPG RE Finance Trust during the 3rd quarter worth about $356,000. Cubist Systematic Strategies LLC purchased a new stake in shares of TPG RE Finance Trust during the 3rd quarter worth about $390,000. HGI Capital Management LLC purchased a new stake in shares of TPG RE Finance Trust during the 3rd quarter worth about $459,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of TPG RE Finance Trust during the 3rd quarter worth about $652,000. Institutional investors and hedge funds own 26.37% of the company’s stock.
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TPG RE Finance Trust Company Profile
TPG RE Finance Trust, Inc is a commercial real estate finance company. The Company is engaged in originating, acquiring and managing commercial mortgage loans and other commercial real estate-related debt instruments. It focuses primarily on directly originating and selectively acquiring floating rate first mortgage loans that are secured by high quality commercial real estate properties undergoing some form of transition and value creation, such as re-tenanting, refurbishment or other form of repositioning.
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