TPG RE Finance Trust (NYSE:TRTX) Hits New 1-Year High at $9.64

TPG RE Finance Trust, Inc. (NYSE:TRTX)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $9.64 and last traded at $9.59, with a volume of 76418 shares traded. The stock had previously closed at $9.42.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Raymond James downgraded TPG RE Finance Trust from a “strong-buy” rating to an “outperform” rating and set a $8.50 price objective for the company. in a research note on Friday, April 12th. Wells Fargo & Company raised their price target on TPG RE Finance Trust from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. BTIG Research reaffirmed a “buy” rating and set a $11.00 price target on shares of TPG RE Finance Trust in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of TPG RE Finance Trust from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.58.

TPG RE Finance Trust Stock Down 0.9 %

The company has a market cap of $718.95 million, a PE ratio of -5.71 and a beta of 2.19. The firm has a 50-day simple moving average of $8.71 and a two-hundred day simple moving average of $7.68. The company has a debt-to-equity ratio of 2.25, a current ratio of 138.05 and a quick ratio of 138.05.

TPG RE Finance Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, June 27th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.96 annualized dividend and a yield of 10.71%. TPG RE Finance Trust’s dividend payout ratio (DPR) is presently -61.15%.

Insiders Place Their Bets

In related news, major shareholder Starwood Capital Group Global sold 9,352,941 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $8.84, for a total transaction of $82,679,998.44. Following the completion of the sale, the insider now owns 2,647,059 shares of the company’s stock, valued at approximately $23,400,001.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TPG RE Finance Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in TPG RE Finance Trust by 0.9% in the third quarter. Vanguard Group Inc. now owns 5,985,415 shares of the company’s stock valued at $40,282,000 after purchasing an additional 51,839 shares during the last quarter. Long Pond Capital LP bought a new position in TPG RE Finance Trust during the 1st quarter valued at $16,638,000. Charles Schwab Investment Management Inc. grew its holdings in TPG RE Finance Trust by 9.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,230,218 shares of the company’s stock worth $7,996,000 after acquiring an additional 108,106 shares in the last quarter. Nokomis Capital L.L.C. acquired a new position in TPG RE Finance Trust during the 1st quarter worth $1,437,000. Finally, Evoke Wealth LLC lifted its position in shares of TPG RE Finance Trust by 183.0% during the fourth quarter. Evoke Wealth LLC now owns 182,710 shares of the company’s stock worth $1,231,000 after purchasing an additional 118,149 shares during the last quarter. Institutional investors and hedge funds own 57.12% of the company’s stock.

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.