TPG RE Finance Trust (NYSE:TRTX) Reaches New 1-Year High After Analyst Upgrade

TPG RE Finance Trust, Inc. (NYSE:TRTX) shares hit a new 52-week high during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $7.00 to $9.00. Wells Fargo & Company currently has an overweight rating on the stock. TPG RE Finance Trust traded as high as $8.81 and last traded at $8.80, with a volume of 39371 shares traded. The stock had previously closed at $8.60.

TRTX has been the subject of several other research reports. Raymond James cut TPG RE Finance Trust from a “strong-buy” rating to an “outperform” rating and set a $8.50 price target for the company. in a report on Friday, April 12th. JPMorgan Chase & Co. raised their target price on TPG RE Finance Trust from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Finally, Bank of America reiterated an “underperform” rating and set a $6.50 price target on shares of TPG RE Finance Trust in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, TPG RE Finance Trust presently has an average rating of “Hold” and a consensus price target of $8.10.

Institutional Investors Weigh In On TPG RE Finance Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new position in TPG RE Finance Trust during the first quarter worth approximately $506,000. BNP Paribas Financial Markets lifted its holdings in shares of TPG RE Finance Trust by 4.7% during the first quarter. BNP Paribas Financial Markets now owns 56,807 shares of the company’s stock valued at $439,000 after purchasing an additional 2,552 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of TPG RE Finance Trust in the 1st quarter valued at $952,000. Tower Research Capital LLC TRC increased its stake in TPG RE Finance Trust by 1,094.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,657 shares of the company’s stock worth $102,000 after purchasing an additional 14,346 shares in the last quarter. Finally, Evoke Wealth LLC raised its holdings in TPG RE Finance Trust by 183.0% during the 4th quarter. Evoke Wealth LLC now owns 182,710 shares of the company’s stock worth $1,231,000 after buying an additional 118,149 shares during the period. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

TPG RE Finance Trust Stock Down 0.3 %

The business’s 50 day simple moving average is $7.69 and its 200 day simple moving average is $6.64. The company has a market capitalization of $686.03 million, a PE ratio of -5.61 and a beta of 2.10. The company has a quick ratio of 138.05, a current ratio of 138.05 and a debt-to-equity ratio of 2.25.

TPG RE Finance Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Thursday, March 28th were given a $0.24 dividend. 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 10.90%. TPG RE Finance Trust’s dividend payout ratio is currently -61.15%.

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.