TPG RE Finance Trust (NYSE:TRTX) Price Target Raised to $10.00

TPG RE Finance Trust (NYSE:TRTX) had its price target upped by JPMorgan Chase & Co. from $9.50 to $10.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on TRTX. Citigroup reiterated a “market outperform” rating on shares of TPG RE Finance Trust in a report on Tuesday, June 9th. Weiss Ratings reissued a “hold (c)” rating on shares of TPG RE Finance Trust in a research note on Friday, May 22nd. Finally, Zacks Research upgraded TPG RE Finance Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, TPG RE Finance Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

TPG RE Finance Trust Stock Up 0.1%

Shares of TRTX opened at $8.76 on Friday. TPG RE Finance Trust has a 52-week low of $7.57 and a 52-week high of $9.85. The company has a market capitalization of $676.85 million, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.79 and a beta of 1.40. The stock has a fifty day simple moving average of $8.43 and a two-hundred day simple moving average of $8.48. The company has a quick ratio of 201.40, a current 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, hitting the consensus estimate of $0.25. The business had revenue of $37.31 million for the quarter, compared to analyst estimates of $37.15 million. TPG RE Finance Trust had a return on equity of 6.91% and a net margin of 19.38%. As a group, equities analysts forecast that TPG RE Finance Trust will post 0.93 EPS for the current year.

TPG RE Finance Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 11.0%. TPG RE Finance Trust’s dividend payout ratio (DPR) is currently 152.38%.

Hedge Funds Weigh In On TPG RE Finance Trust

A number of hedge funds have recently made changes to their positions in TRTX. Redhawk Wealth Advisors Inc. acquired a new position in TPG RE Finance Trust during the fourth quarter worth $855,000. UBS Group AG grew its stake in shares of TPG RE Finance Trust by 34.4% in the fourth quarter. UBS Group AG now owns 451,997 shares of the company’s stock valued at $3,892,000 after buying an additional 115,787 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of TPG RE Finance Trust by 318.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 136,659 shares of the company’s stock valued at $1,067,000 after buying an additional 103,986 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of TPG RE Finance Trust in the 1st quarter valued at $217,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of TPG RE Finance Trust by 60.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 929,566 shares of the company’s stock valued at $7,260,000 after buying an additional 350,020 shares during the period. Hedge funds and other institutional investors own 57.12% of the company’s stock.

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.