Almitas Capital LLC Purchases New Position in TPG RE Finance Trust, Inc. $TRTX

Key Points

• Almitas Capital acquired 362,684 shares of TPG RE Finance Trust during the second quarter, valued at approximately $3.0 million and representing about 0.47% of the company. Hedge funds and other institutional investors collectively own 57.12% of TRTX.
• Analyst sentiment is generally positive, with five Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $10.00 price target. However, recent opinions were mixed, including a downgrade to Sell from Wall Street Zen.
• TRTX reported quarterly earnings of $0.23 per share, below the $0.26 consensus estimate, while revenue of $34.01 million also missed expectations. The company’s $0.24 quarterly dividend implies a 12.4% annualized yield, though its payout ratio is elevated at 177.78%.

Almitas Capital LLC acquired a new position in TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 362,684 shares of the company's stock, valued at approximately $3,036,000. Almitas Capital LLC owned about 0.47% of TPG RE Finance Trust as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new stake in shares of TPG RE Finance Trust in the 4th quarter worth about $30,000. Kestra Advisory Services LLC bought a new position in TPG RE Finance Trust in the fourth quarter worth $30,000. BNP Paribas Financial Markets lifted its position in TPG RE Finance Trust by 86.6% during the second quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company's stock valued at $50,000 after buying an additional 3,013 shares during the period. Russell Investments Group Ltd. lifted its position in TPG RE Finance Trust by 2,454.1% during the third quarter. Russell Investments Group Ltd. now owns 5,951 shares of the company's stock valued at $51,000 after buying an additional 5,718 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of TPG RE Finance Trust by 249.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,818 shares of the company's stock valued at $53,000 after buying an additional 4,865 shares in the last quarter. 57.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TRTX shares. JPMorgan Chase & Co. increased their price target on shares of TPG RE Finance Trust from $9.50 to $10.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Citigroup reissued a "market outperform" rating on shares of TPG RE Finance Trust in a research note on Tuesday, June 9th. Wall Street Zen cut TPG RE Finance Trust from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings upgraded TPG RE Finance Trust from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $10.00.

TPG RE Finance Trust Stock Up 0.4%

TRTX stock opened at $7.74 on Friday. The stock has a market capitalization of $594.51 million, a P/E ratio of 14.34, a P/E/G ratio of 1.70 and a beta of 1.41. The company has a debt-to-equity ratio of 3.30, a current ratio of 200.26 and a quick ratio of 200.26. TPG RE Finance Trust, Inc. has a 1-year low of $7.57 and a 1-year high of $9.85. The business has a fifty day moving average price of $8.27 and a 200-day moving average price of $8.30.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.03). TPG RE Finance Trust had a net margin of 17.03% and a return on equity of 6.85%. The company had revenue of $34.01 million for the quarter, compared to the consensus estimate of $37.30 million. Equities analysts forecast that TPG RE Finance Trust, Inc. will post 0.92 earnings per share for the current fiscal year.

TPG RE Finance Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, June 26th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 12.4%. TPG RE Finance Trust's payout ratio is presently 177.78%.

About TPG RE Finance Trust

TPG RE Finance Trust, Inc NYSE: TRTX is a growth-oriented real estate finance company that originates and invests in a diversified portfolio of commercial real estate debt. The company’s primary business activities include the origination and acquisition of senior mortgage loans, mezzanine loans and preferred equity investments. These investments predominantly finance multifamily, office, industrial, retail and hospitality properties across the United States.

TPG RE Finance Trust pursues a flexible capital strategy, structuring transactions that range from first-lien floating-rate loans to subordinated debt and preferred equity.

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