Zacks Research Downgrades TPG RE Finance Trust (NYSE:TRTX) to Strong Sell

TPG RE Finance Trust (NYSE:TRTX) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also recently commented on TRTX. JPMorgan Chase & Co. raised their price target on shares of TPG RE Finance Trust from $10.00 to $10.50 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of TPG RE Finance Trust from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of TPG RE Finance Trust in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.75.

TPG RE Finance Trust Stock Down 0.7%

TPG RE Finance Trust stock traded down $0.07 during trading hours on Tuesday, hitting $9.19. The company had a trading volume of 83,816 shares, compared to its average volume of 708,319. The firm’s fifty day moving average is $9.01 and its 200-day moving average is $8.92. TPG RE Finance Trust has a fifty-two week low of $6.47 and a fifty-two week high of $9.85. The firm has a market capitalization of $718.82 million, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.75 and a beta of 1.54. The company has a debt-to-equity ratio of 2.61, a current ratio of 166.64 and a quick ratio of 166.64.

TPG RE Finance Trust (NYSE:TRTX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $37.84 million for the quarter, compared to the consensus estimate of $27.87 million. TPG RE Finance Trust had a return on equity of 6.37% and a net margin of 20.46%. On average, research analysts forecast that TPG RE Finance Trust will post 0.99 earnings per share for the current year.

Hedge Funds Weigh In On TPG RE Finance Trust

A number of institutional investors have recently added to or reduced their stakes in TRTX. State Board of Administration of Florida Retirement System grew its holdings in shares of TPG RE Finance Trust by 1.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 65,791 shares of the company’s stock valued at $508,000 after acquiring an additional 1,118 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of TPG RE Finance Trust by 8.9% in the 2nd quarter. ProShare Advisors LLC now owns 14,055 shares of the company’s stock worth $109,000 after buying an additional 1,144 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in TPG RE Finance Trust by 24.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,998 shares of the company’s stock valued at $54,000 after buying an additional 1,375 shares during the period. Van ECK Associates Corp boosted its stake in TPG RE Finance Trust by 0.5% in the third 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. Finally, CWM LLC grew its holdings in TPG RE Finance Trust by 473.7% during the second quarter. CWM LLC now owns 3,517 shares of the company’s stock valued at $27,000 after purchasing an additional 2,904 shares during the period. 57.12% of the stock is currently owned by institutional investors and hedge funds.

TPG RE Finance Trust Company Profile

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.