TPG RE Finance Trust Inc (NYSE:TRTX) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,590,000 shares, a drop of 21.3% from the August 15th total of 2,020,000 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily volume of 738,700 shares, the days-to-cover ratio is currently 2.2 days.
TRTX stock opened at $9.04 on Wednesday. The stock’s fifty day moving average price is $8.83 and its 200-day moving average price is $8.66. The company has a market cap of $694.64 million, a P/E ratio of -5.48 and a beta of 1.85. TPG RE Finance Trust has a 1 year low of $2.45 and a 1 year high of $21.30. The company has a debt-to-equity ratio of 2.89, a current ratio of 241.68 and a quick ratio of 241.68.
TPG RE Finance Trust (NYSE:TRTX) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.30. TPG RE Finance Trust had a negative return on equity of 4.43% and a negative net margin of 38.46%. The business had revenue of $44.31 million for the quarter, compared to analysts’ expectations of $35.58 million. As a group, analysts expect that TPG RE Finance Trust will post -1.47 earnings per share for the current year.
In related news, major shareholder Group Holdings (Sbs) Advis Tpg acquired 91,411 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were bought at an average cost of $8.99 per share, with a total value of $821,784.89. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired a total of 367,243 shares of company stock valued at $3,267,421 in the last ninety days. Insiders own 1.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in TRTX. Martingale Asset Management L P raised its stake in shares of TPG RE Finance Trust by 0.8% in the 1st quarter. Martingale Asset Management L P now owns 266,821 shares of the company’s stock valued at $1,466,000 after acquiring an additional 2,100 shares during the period. Principal Financial Group Inc. boosted its stake in shares of TPG RE Finance Trust by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 68,010 shares of the company’s stock valued at $373,000 after buying an additional 2,193 shares during the period. Van ECK Associates Corp lifted its position in shares of TPG RE Finance Trust by 1.3% during the 1st quarter. Van ECK Associates Corp now owns 177,342 shares of the company’s stock worth $974,000 after purchasing an additional 2,285 shares during the last quarter. Wiley BROS. Aintree Capital LLC increased its position in shares of TPG RE Finance Trust by 9.9% during the second quarter. Wiley BROS. Aintree Capital LLC now owns 26,878 shares of the company’s stock valued at $231,000 after purchasing an additional 2,423 shares during the period. Finally, Strs Ohio lifted its holdings in shares of TPG RE Finance Trust by 20.5% during the second quarter. Strs Ohio now owns 15,900 shares of the company’s stock valued at $136,000 after acquiring an additional 2,700 shares during the period. 58.72% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on TRTX. Raymond James reiterated a “buy” rating on shares of TPG RE Finance Trust in a research note on Thursday, August 6th. Zacks Investment Research lowered TPG RE Finance Trust from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. ValuEngine cut shares of TPG RE Finance Trust from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 3rd. Finally, Citigroup upped their target price on TPG RE Finance Trust from $6.00 to $7.50 and gave the company a “neutral” rating in a report on Monday, July 20th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $11.50.
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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