TPG RE Finance Trust (NYSE:TRTX) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Several other equities analysts also recently issued reports on TRTX. Citizens Jmp downgraded shares of TPG RE Finance Trust from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 17th. Citigroup downgraded shares of TPG RE Finance Trust to a “market perform” rating in a research note on Wednesday, September 17th. JMP Securities reissued a “market perform” rating on shares of TPG RE Finance Trust in a research note on Wednesday, September 17th. Wall Street Zen lowered TPG RE Finance Trust from a “hold” rating to a “sell” rating in a research note on Saturday, September 20th. Finally, Wells Fargo & Company increased their price target on TPG RE Finance Trust from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, TPG RE Finance Trust presently has a consensus rating of “Hold” and a consensus price target of $9.50.

TPG RE Finance Trust Price Performance

NYSE:TRTX opened at $8.58 on Monday. The firm has a market cap of $674.31 million, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 2.29 and a beta of 1.68. The company has a current ratio of 193.29, a quick ratio of 193.29 and a debt-to-equity ratio of 2.75. The company’s 50-day moving average is $9.05 and its two-hundred day moving average is $8.22. TPG RE Finance Trust has a 12-month low of $6.47 and a 12-month high of $9.85.

TPG RE Finance Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a yield of 11.2%. TPG RE Finance Trust’s dividend payout ratio (DPR) is currently 147.69%.

TPG RE Finance Trust declared that its board has authorized a share buyback program on Thursday, September 4th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. CWM LLC raised its position in shares of TPG RE Finance Trust by 473.7% in the 2nd quarter. CWM LLC now owns 3,517 shares of the company’s stock worth $27,000 after buying an additional 2,904 shares during the period. Arlington Trust Co LLC purchased a new position in shares of TPG RE Finance Trust in the 1st quarter worth about $41,000. BNP Paribas Financial Markets raised its holdings in shares of TPG RE Finance Trust by 86.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company’s stock worth $50,000 after purchasing an additional 3,013 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of TPG RE Finance Trust by 249.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,818 shares of the company’s stock worth $53,000 after purchasing an additional 4,865 shares during the period. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of TPG RE Finance Trust by 24.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,998 shares of the company’s stock worth $54,000 after purchasing an additional 1,375 shares during the period. 57.12% of the stock is 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.