Zacks Investment Research upgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a sell rating to a hold rating in a research report report published on Friday, Zacks.com reports.
According to Zacks, “TPG RE Finance Trust, Inc. is a commercial real estate finance company. It focuses primarily on directly originating, acquiring and managing commercial mortgage loans and other commercial real estate-related debt instruments. TPG RE Finance Trust, Inc. is headquartered in SAN FRANCISCO, United States. “
A number of other equities research analysts have also recently weighed in on the stock. JMP Securities cut their price objective on shares of TPG RE Finance Trust from $21.00 to $8.00 and set an outperform rating on the stock in a research note on Monday, April 6th. Raymond James boosted their price target on shares of TPG RE Finance Trust from $10.00 to $13.00 and gave the stock an outperform rating in a research report on Thursday, June 11th. Citigroup increased their price objective on shares of TPG RE Finance Trust from $4.00 to $6.00 and gave the company a neutral rating in a report on Friday, May 15th. ValuEngine raised TPG RE Finance Trust from a hold rating to a buy rating in a report on Thursday, May 14th. Finally, Wells Fargo & Co decreased their price target on TPG RE Finance Trust from $22.00 to $9.00 and set an overweight rating for the company in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $13.42.
Shares of NYSE:TRTX opened at $8.51 on Friday. The company has a quick ratio of 225.54, a current ratio of 225.54 and a debt-to-equity ratio of 3.62. The company’s 50-day moving average price is $7.98 and its 200 day moving average price is $13.33. The company has a market cap of $640.80 million, a PE ratio of -4.89 and a beta of 1.94. TPG RE Finance Trust has a fifty-two week low of $2.45 and a fifty-two week high of $21.30.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.40%. The ex-dividend date is Thursday, June 25th. TPG RE Finance Trust’s dividend payout ratio (DPR) is currently 45.45%.
Large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in TPG RE Finance Trust in the 4th quarter valued at $32,000. US Bancorp DE boosted its holdings in TPG RE Finance Trust by 86.0% during the first quarter. US Bancorp DE now owns 6,150 shares of the company’s stock valued at $34,000 after acquiring an additional 2,843 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of TPG RE Finance Trust by 171.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,326 shares of the company’s stock valued at $51,000 after purchasing an additional 5,896 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of TPG RE Finance Trust in the first quarter valued at about $56,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of TPG RE Finance Trust in the first quarter worth about $57,000. Hedge funds and other institutional investors own 59.01% 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 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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