TPG RE Finance Trust (NYSE:TRTX) Price Target Raised to $9.00 at Wells Fargo & Company

TPG RE Finance Trust (NYSE:TRTX) had its target price raised by Wells Fargo & Company from $7.00 to $9.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also weighed in on TRTX. Raymond James lowered shares of TPG RE Finance Trust from a strong-buy rating to an outperform rating and set a $8.50 target price on the stock. in a research report on Friday, April 12th. Bank of America restated an underperform rating and issued a $6.50 price target on shares of TPG RE Finance Trust in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. lifted their price objective on TPG RE Finance Trust from $7.00 to $7.50 and gave the stock a neutral rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $8.10.

TPG RE Finance Trust Price Performance

Shares of NYSE TRTX opened at $8.85 on Tuesday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 138.05 and a current ratio of 138.05. TPG RE Finance Trust has a one year low of $4.64 and a one year high of $8.89. The firm has a market capitalization of $689.15 million, a P/E ratio of -5.64 and a beta of 2.10. The company’s fifty day moving average is $7.65 and its two-hundred day moving average is $6.62.

TPG RE Finance Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.85%. TPG RE Finance Trust’s dividend payout ratio (DPR) is -61.15%.

Institutional Investors Weigh In On TPG RE Finance Trust

A number of institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of TPG RE Finance Trust by 3,051.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 935,165 shares of the company’s stock valued at $6,294,000 after buying an additional 905,492 shares during the period. Acadian Asset Management LLC purchased a new stake in TPG RE Finance Trust during the third quarter valued at about $1,203,000. Los Angeles Capital Management LLC purchased a new position in shares of TPG RE Finance Trust in the 1st quarter worth about $952,000. Evoke Wealth LLC lifted its stake in shares of TPG RE Finance Trust by 183.0% in the 4th quarter. Evoke Wealth LLC now owns 182,710 shares of the company’s stock valued at $1,231,000 after purchasing an additional 118,149 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of TPG RE Finance Trust by 9.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,230,218 shares of the company’s stock worth $7,996,000 after purchasing an additional 108,106 shares during the period. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

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 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.