TPG RE Finance Trust (NYSE:TRTX) Rating Lowered to "Market Perform" at Citizens Jmp

Key Points

• Citizens Jmp downgraded TPG RE Finance Trust (NYSE:TRTX) from an "outperform" rating to a "market perform" rating, reflecting a shift in analysts' perspective.
• The company's board has authorized a $25 million stock buyback plan, signaling confidence that the shares are undervalued.
• Recent institutional activity shows significant investments, with CWM LLC increasing its holdings by 473.7% during the second quarter, demonstrating growing interest in the stock.

Citizens Jmp cut shares of TPG RE Finance Trust (NYSE:TRTX - Free Report) from an outperform rating to a market perform rating in a report released on Wednesday morning, Marketbeat Ratings reports.

Several other research analysts also recently weighed in on TRTX. Wells Fargo & Company upped their price objective on shares of TPG RE Finance Trust from $9.00 to $11.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wall Street Zen upgraded shares of TPG RE Finance Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Zacks Research upgraded shares of TPG RE Finance Trust from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, TPG RE Finance Trust currently has an average rating of "Moderate Buy" and an average target price of $9.50.

TPG RE Finance Trust Stock Performance

TPG RE Finance Trust stock traded down $0.11 during midday trading on Wednesday, hitting $9.24. The company's stock had a trading volume of 2,167,484 shares, compared to its average volume of 663,348. TPG RE Finance Trust has a 1-year low of $6.47 and a 1-year high of $9.85. The company has a debt-to-equity ratio of 2.75, a current ratio of 193.29 and a quick ratio of 193.29. The company has a 50-day moving average price of $8.96 and a two-hundred day moving average price of $8.21. The company has a market cap of $725.78 million, a price-to-earnings ratio of 14.21, a PEG ratio of 2.48 and a beta of 1.68.

TPG RE Finance Trust declared that its board has approved a share buyback program on Thursday, September 4th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

TPG RE Finance Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, September 26th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.4%. TPG RE Finance Trust's payout ratio is 147.69%.

Institutional Trading of TPG RE Finance Trust

Hedge funds have recently modified their holdings of the company. Northern Trust Corp lifted its position in TPG RE Finance Trust by 15.5% in the fourth quarter. Northern Trust Corp now owns 629,451 shares of the company's stock worth $5,350,000 after buying an additional 84,652 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of TPG RE Finance Trust by 49.2% during the fourth quarter. Bank of America Corp DE now owns 426,174 shares of the company's stock valued at $3,622,000 after purchasing an additional 140,507 shares during the period. Deutsche Bank AG increased its stake in shares of TPG RE Finance Trust by 114.6% during the fourth quarter. Deutsche Bank AG now owns 130,903 shares of the company's stock valued at $1,113,000 after buying an additional 69,895 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in TPG RE Finance Trust by 7.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,101 shares of the company's stock valued at $290,000 after purchasing an additional 2,478 shares during the last quarter. Finally, Millennium Management LLC grew its stake in TPG RE Finance Trust by 6.9% in the fourth quarter. Millennium Management LLC now owns 1,053,474 shares of the company's stock valued at $8,955,000 after purchasing an additional 68,116 shares during the last quarter. 57.12% of the stock is owned by hedge funds and other institutional investors.

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.