TPG RE Finance Trust (NYSE:TRTX) Downgraded by Raymond James to Outperform

Raymond James downgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a strong-buy rating to an outperform rating in a report issued on Friday morning, MarketBeat reports. The brokerage currently has $8.50 target price on the stock.

TRTX has been the subject of several other research reports. Wells Fargo & Company upped their price target on shares of TPG RE Finance Trust from $6.00 to $7.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Bank of America reaffirmed an underperform rating and issued a $6.50 price target on shares of TPG RE Finance Trust in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of TPG RE Finance Trust from $7.00 to $7.50 and gave the stock a neutral rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $7.70.

TPG RE Finance Trust Trading Down 3.6 %

Shares of TRTX opened at $7.31 on Friday. The company has a 50 day moving average price of $7.01 and a 200-day moving average price of $6.45. TPG RE Finance Trust has a fifty-two week low of $4.64 and a fifty-two week high of $8.12. The company has a quick ratio of 158.41, a current ratio of 158.41 and a debt-to-equity ratio of 2.46.

TPG RE Finance Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 13.13%. TPG RE Finance Trust’s payout ratio is -56.80%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its stake in shares of TPG RE Finance Trust by 102.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,936,292 shares of the company’s stock worth $34,677,000 after acquiring an additional 1,488,474 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of TPG RE Finance Trust by 3,051.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 935,165 shares of the company’s stock worth $6,294,000 after acquiring an additional 905,492 shares during the period. Bank of America Corp DE increased its stake in shares of TPG RE Finance Trust by 155.7% in the first quarter. Bank of America Corp DE now owns 843,809 shares of the company’s stock worth $6,126,000 after acquiring an additional 513,815 shares during the period. Barclays PLC increased its stake in shares of TPG RE Finance Trust by 633.4% in the fourth quarter. Barclays PLC now owns 509,182 shares of the company’s stock worth $3,458,000 after acquiring an additional 439,759 shares during the period. Finally, Allianz Asset Management GmbH acquired a new stake in shares of TPG RE Finance Trust in the first quarter worth $4,095,000. Institutional investors and hedge funds own 57.12% 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 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 multifamily, life science, mixed-use, hospitality, self storage, industrial, and retail real estate sectors.