TPG RE Finance Trust Inc (NYSE:TRTX) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 520,800 shares, a decline of 50.4% from the September 30th total of 1,050,000 shares. Based on an average daily volume of 238,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.9% of the company’s stock are short sold.
Separately, Zacks Investment Research raised shares of 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 Sunday, November 3rd.
NYSE:TRTX traded up $0.03 during trading hours on Tuesday, reaching $20.15. The company’s stock had a trading volume of 320 shares, compared to its average volume of 168,003. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 2.28 and a beta of 0.35. TPG RE Finance Trust has a one year low of $17.81 and a one year high of $20.56. The business’s 50-day moving average is $19.92 and its 200-day moving average is $19.71. The company has a debt-to-equity ratio of 2.88, a current ratio of 41.26 and a quick ratio of 41.26.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 8.54%. The ex-dividend date was Thursday, September 26th. TPG RE Finance Trust’s dividend payout ratio is presently 101.18%.
Large investors have recently modified their holdings of the stock. First Trust Advisors LP lifted its stake in shares of TPG RE Finance Trust by 7.4% in the second quarter. First Trust Advisors LP now owns 181,851 shares of the company’s stock valued at $3,508,000 after buying an additional 12,598 shares during the period. Bessemer Group Inc. lifted its position in TPG RE Finance Trust by 2.6% during the 2nd quarter. Bessemer Group Inc. now owns 102,200 shares of the company’s stock worth $1,971,000 after acquiring an additional 2,600 shares during the period. LDR Capital Management LLC lifted its position in TPG RE Finance Trust by 13.5% during the 2nd quarter. LDR Capital Management LLC now owns 467,156 shares of the company’s stock worth $9,011,000 after acquiring an additional 55,570 shares during the period. Jag Capital Management LLC acquired a new stake in TPG RE Finance Trust during the 2nd quarter worth approximately $948,000. Finally, Prudential Financial Inc. lifted its position in TPG RE Finance Trust by 38.8% during the 2nd quarter. Prudential Financial Inc. now owns 186,572 shares of the company’s stock worth $3,599,000 after acquiring an additional 52,120 shares during the period. Hedge funds and other institutional investors own 52.90% of the company’s stock.
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 North America. 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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