TPG RE Finance Trust (NYSE:TRTX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other analysts have also commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TPG RE Finance Trust in a research note on Wednesday, October 8th. JMP Securities reaffirmed a “market perform” rating on shares of TPG RE Finance Trust in a research note on Wednesday, September 17th. Citizens Jmp lowered TPG RE Finance Trust from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 17th. Zacks Research lowered TPG RE Finance Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wells Fargo & Company raised their price target on TPG RE Finance Trust from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.50.

TPG RE Finance Trust Trading Up 0.6%

Shares of TRTX stock opened at $8.58 on Friday. TPG RE Finance Trust has a fifty-two week low of $6.47 and a fifty-two week high of $9.85. The stock has a market cap of $673.91 million, a P/E ratio of 13.19, a P/E/G ratio of 2.30 and a beta of 1.68. The business has a fifty day simple moving average of $9.04 and a 200-day simple moving average of $8.24. The company has a quick ratio of 193.29, a current ratio of 193.29 and a debt-to-equity ratio of 2.75.

TPG RE Finance Trust (NYSE:TRTX) last announced its quarterly earnings results on Monday, June 6th. The company reported $0.27 earnings per share for the quarter. The business had revenue of $40.06 million during the quarter. TPG RE Finance Trust had a return on equity of 6.61% and a net margin of 21.09%. On average, analysts forecast that TPG RE Finance Trust will post 0.99 earnings per share for the current fiscal year.

TPG RE Finance Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, September 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend is Friday, September 26th. TPG RE Finance Trust’s payout ratio is currently 147.69%.

TPG RE Finance Trust declared that its board has authorized a stock 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On TPG RE Finance Trust

Several hedge funds have recently modified their holdings of TRTX. CWM LLC raised its holdings in shares of TPG RE Finance Trust by 473.7% during the 2nd quarter. CWM LLC now owns 3,517 shares of the company’s stock valued at $27,000 after buying an additional 2,904 shares during the period. Arlington Trust Co LLC purchased a new stake in shares of TPG RE Finance Trust during the 1st quarter valued at about $41,000. BNP Paribas Financial Markets raised its holdings in shares of TPG RE Finance Trust by 86.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company’s stock valued at $50,000 after buying an additional 3,013 shares during the period. 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 valued at $53,000 after buying an additional 4,865 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in TPG RE Finance Trust by 24.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,998 shares of the company’s stock worth $54,000 after purchasing an additional 1,375 shares during the last quarter. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

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.