TPG RE Finance Trust (NYSE:TRTX) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

TPG RE Finance Trust (NYSE:TRTX) released its quarterly earnings results on Tuesday. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03), FiscalAI reports. The company had revenue of $35.04 million for the quarter, compared to analyst estimates of $27.15 million. TPG RE Finance Trust had a net margin of 20.46% and a return on equity of 6.37%.

TPG RE Finance Trust Stock Performance

TPG RE Finance Trust stock traded down $0.02 during trading on Tuesday, hitting $8.84. The stock had a trading volume of 849,413 shares, compared to its average volume of 736,535. The stock’s 50 day moving average is $9.01 and its two-hundred day moving average is $8.99. TPG RE Finance Trust has a 1 year low of $6.47 and a 1 year high of $9.85. The stock has a market cap of $691.43 million, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.70 and a beta of 1.53. The company has a quick ratio of 166.64, a current ratio of 166.64 and a debt-to-equity ratio of 2.61.

TPG RE Finance Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Friday, December 26th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date of this dividend was Friday, December 26th. TPG RE Finance Trust’s payout ratio is 147.69%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Weiss Ratings lowered TPG RE Finance Trust from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Zacks Research cut TPG RE Finance Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, JPMorgan Chase & Co. upped their target price 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. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.75.

Institutional Investors Weigh In On TPG RE Finance Trust

Several institutional investors have recently added to or reduced their stakes in TRTX. Zacks Investment Management purchased a new stake in shares of TPG RE Finance Trust during the third quarter worth $126,000. Seven Mile Advisory bought a new stake in shares of TPG RE Finance Trust during the 3rd quarter valued at $138,000. BNP Paribas Financial Markets lifted its holdings in TPG RE Finance Trust by 150.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 16,267 shares of the company’s stock worth $139,000 after purchasing an additional 9,773 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in TPG RE Finance Trust by 395.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 14,383 shares of the company’s stock worth $111,000 after purchasing an additional 11,481 shares during the period. Finally, Modern Wealth Management LLC purchased a new position in TPG RE Finance Trust during the 2nd quarter valued at about $161,000. 57.12% of the stock is owned by hedge funds and other institutional investors.

About TPG RE Finance Trust

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.