TPG RE Finance Trust (NYSE:TRTX) Shares Gap Up to $7.29

TPG RE Finance Trust, Inc. (NYSE:TRTXGet Rating)’s share price gapped up before the market opened on Friday . The stock had previously closed at $7.29, but opened at $7.70. TPG RE Finance Trust shares last traded at $7.52, with a volume of 1,765 shares.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TRTX. Raymond James decreased their price objective on TPG RE Finance Trust from $11.50 to $11.00 and set a “strong-buy” rating for the company in a report on Thursday, November 3rd. JPMorgan Chase & Co. reduced their price target on TPG RE Finance Trust from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. Finally, BTIG Research cut TPG RE Finance Trust from a “buy” rating to a “neutral” rating in a report on Wednesday, November 2nd.

TPG RE Finance Trust Trading Up 1.8 %

The company has a debt-to-equity ratio of 2.86, a current ratio of 177.12 and a quick ratio of 177.12. The business’s 50-day moving average price is $7.88 and its two-hundred day moving average price is $9.27. The company has a market capitalization of $574.38 million, a price-to-earnings ratio of -8.53 and a beta of 1.83.

TPG RE Finance Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Wednesday, September 28th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, September 27th. This represents a $0.96 annualized dividend and a yield of 12.94%. TPG RE Finance Trust’s dividend payout ratio is currently -110.34%.

Institutional Trading of TPG RE Finance Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DigitalBridge Group Inc. boosted its position in TPG RE Finance Trust by 480.6% during the first quarter. DigitalBridge Group Inc. now owns 3,099,399 shares of the company’s stock valued at $8,611,000 after acquiring an additional 2,565,546 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in TPG RE Finance Trust by 102.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,936,292 shares of the company’s stock valued at $34,677,000 after acquiring an additional 1,488,474 shares during the last quarter. Coulter & Justus Financial Services LLC bought a new stake in TPG RE Finance Trust during the second quarter valued at $3,646,000. Allianz Asset Management GmbH acquired a new position in shares of TPG RE Finance Trust during the first quarter valued at about $4,095,000. Finally, Renaissance Technologies LLC raised its holdings in shares of TPG RE Finance Trust by 440.2% during the first quarter. Renaissance Technologies LLC now owns 239,294 shares of the company’s stock valued at $2,826,000 after purchasing an additional 195,000 shares during the period. Institutional investors own 57.36% of the company’s stock.

About TPG RE Finance Trust

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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; subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments; and commercial real estate collateralized loan obligations and commercial mortgage-backed securities secured by properties primarily in the office, multifamily, life science, mixed-use, hospitality, industrial, and retail real estate sectors.

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