TPG RE Finance Trust (NYSE:TRTX) issued its earnings results on Monday. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02), Fidelity Earnings reports. TPG RE Finance Trust had a return on equity of 8.10% and a net margin of 43.06%. The company had revenue of $36.60 million during the quarter, compared to analysts’ expectations of $35.90 million. During the same quarter in the previous year, the company earned $0.35 EPS. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year.
Shares of TRTX traded down $0.15 during mid-day trading on Tuesday, reaching $19.83. The company had a trading volume of 141,757 shares, compared to its average volume of 204,834. TPG RE Finance Trust has a 52-week low of $18.22 and a 52-week high of $21.05. The company has a quick ratio of 18.34, a current ratio of 18.34 and a debt-to-equity ratio of 2.25. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 2.27 and a beta of -0.14.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Friday, September 28th were paid a $0.43 dividend. The ex-dividend date was Thursday, September 27th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 8.67%. TPG RE Finance Trust’s payout ratio is 98.85%.
An institutional investor recently raised its position in TPG RE Finance Trust stock. Bank of New York Mellon Corp boosted its holdings in shares of TPG RE Finance Trust Inc (NYSE:TRTX) by 50.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,910 shares of the company’s stock after purchasing an additional 40,076 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.18% of TPG RE Finance Trust worth $2,417,000 at the end of the most recent reporting period. 38.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on TRTX shares. Zacks Investment Research upgraded TPG RE Finance Trust from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Friday, July 27th. BTIG Research started coverage on TPG RE Finance Trust in a research note on Tuesday, October 9th. They issued a “buy” rating and a $21.50 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.88.
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TPG RE Finance Trust Company Profile
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; and subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments secured by properties primarily in the office, mixed use, multifamily, industrial, retail, and hospitality real estate sectors.
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