Bank of America Corp DE Makes New Investment in TPG RE Finance Trust, Inc. $TRTX

Key Points

• Bank of America acquired 270,651 shares of TPG RE Finance Trust in the second quarter, valued at approximately $2.27 million, giving it a 0.35% stake. Institutional investors collectively own 57.12% of the company.
• TPG RE Finance Trust reported quarterly EPS of $0.23, below the $0.26 analyst consensus, while revenue of $34.01 million also missed estimates. The stock was trading at $6.26, near its 52-week low of $6.18.
• The company declared a quarterly dividend of $0.24 per share, equivalent to an annualized $0.96 and a 15.3% yield. Analysts maintain a consensus “Moderate Buy” rating with a $10.00 price target, though recent ratings have been mixed.

Bank of America Corp DE acquired a new stake in TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 270,651 shares of the company's stock, valued at approximately $2,265,000. Bank of America Corp DE owned about 0.35% of TPG RE Finance Trust at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in shares of TPG RE Finance Trust during the 2nd quarter worth about $70,000. Pictet Asset Management Holding SA bought a new position in shares of TPG RE Finance Trust in the first quarter valued at approximately $88,000. Ieq Capital LLC bought a new position in shares of TPG RE Finance Trust in the second quarter valued at approximately $128,000. The Manufacturers Life Insurance Company bought a new position in shares of TPG RE Finance Trust in the second quarter valued at approximately $150,000. Finally, Quantinno Capital Management LP lifted its stake in shares of TPG RE Finance Trust by 30.0% in the first quarter. Quantinno Capital Management LP now owns 19,644 shares of the company's stock worth $153,000 after buying an additional 4,537 shares during the last quarter. 57.12% of the stock is currently owned by institutional investors.

TPG RE Finance Trust Trading Down 1.2%

Shares of TPG RE Finance Trust stock opened at $6.26 on Thursday. TPG RE Finance Trust, Inc. has a 52-week low of $6.18 and a 52-week high of $9.37. The firm has a market capitalization of $480.89 million, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.40 and a beta of 1.42. The company has a debt-to-equity ratio of 3.30, a current ratio of 200.26 and a quick ratio of 200.26. The company's fifty day moving average price is $7.68 and its two-hundred day moving average price is $8.09.

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

TPG RE Finance Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Monday, September 28th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 15.3%. The ex-dividend date of this dividend is Monday, September 28th. TPG RE Finance Trust's dividend payout ratio is currently 177.78%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup reiterated a "market outperform" rating on shares of TPG RE Finance Trust in a research note on Thursday, September 17th. Weiss Ratings downgraded TPG RE Finance Trust from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, September 18th. JPMorgan Chase & Co. raised their target price on TPG RE Finance Trust from $9.50 to $10.00 and gave the company an "overweight" rating in a report on Friday, July 17th. UBS Group downgraded TPG RE Finance Trust to a "neutral" rating in a research report on Thursday, September 17th. Finally, Wall Street Zen lowered TPG RE Finance Trust from a "hold" rating to a "sell" rating in a report on Saturday, September 19th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, TPG RE Finance Trust has an average rating of "Moderate Buy" and a consensus price target of $10.00.

TPG RE Finance Trust Profile

TPG RE Finance Trust, Inc is a real estate investment trust that originates, acquires and manages commercial real estate loans. The company primarily focuses on senior mortgage loans secured by institutional-quality properties in major U.S. markets.

Its portfolio may include loans backed by a range of commercial property types, such as multifamily, office, hospitality, industrial, retail and other commercial assets. TPG RE Finance Trust generally seeks to provide financing to owners and operators of income-producing real estate while managing credit, interest-rate and other investment risks.

The company was established in 2014 and is externally managed by TPG RE Finance Trust Management, LLC, an affiliate of global alternative asset manager TPG Inc Through its relationship with TPG, the company benefits from access to real estate investment and lending expertise.

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