Bank of New York Mellon Corp Takes Position in TPG RE Finance Trust, Inc. $TRTX

Key Points

• Bank of New York Mellon initiated a position in TPG RE Finance Trust, purchasing 211,233 shares valued at approximately $1.77 million. Institutional investors collectively own 57.12% of the company.
• TRTX shares opened at $7.74, near their 52-week low, after the company reported quarterly EPS of $0.23 and revenue of $34.01 million—both below analyst estimates.
• The company’s quarterly dividend equates to an annualized $0.96 and a 12.4% yield, though its 177.78% payout ratio signals limited earnings coverage. Analysts maintain a “Moderate Buy” consensus with a $10 average price target.

Bank of New York Mellon Corp bought a new position in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 211,233 shares of the company's stock, valued at approximately $1,768,000. Bank of New York Mellon Corp owned about 0.28% of TPG RE Finance Trust as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its holdings in TPG RE Finance Trust by 60.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 929,566 shares of the company's stock worth $7,260,000 after purchasing an additional 350,020 shares during the last quarter. UBS Group AG boosted its position in shares of TPG RE Finance Trust by 34.4% in the fourth quarter. UBS Group AG now owns 451,997 shares of the company's stock valued at $3,892,000 after acquiring an additional 115,787 shares during the period. Jennison Associates LLC bought a new stake in shares of TPG RE Finance Trust in the first quarter valued at about $1,330,000. Y Intercept Hong Kong Ltd grew its stake in shares of TPG RE Finance Trust by 318.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 136,659 shares of the company's stock valued at $1,067,000 after acquiring an additional 103,986 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of TPG RE Finance Trust by 14.1% in the second quarter. The Manufacturers Life Insurance Company now owns 24,164 shares of the company's stock valued at $187,000 after acquiring an additional 2,985 shares in the last quarter. Institutional investors own 57.12% of the company's stock.

TPG RE Finance Trust Trading Down 2.0%

Shares of TRTX opened at $7.74 on Wednesday. The company has a debt-to-equity ratio of 3.30, a quick ratio of 200.26 and a current ratio of 200.26. TPG RE Finance Trust, Inc. has a 52-week low of $7.57 and a 52-week high of $9.71. The firm has a market cap of $593.89 million, a price-to-earnings ratio of 14.33, a PEG ratio of 1.74 and a beta of 1.42. The business's fifty day moving average is $8.16 and its 200-day moving average is $8.24.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate 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%. Equities analysts anticipate that TPG RE Finance Trust, Inc. will post 0.92 EPS for the current fiscal year.

TPG RE Finance Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 12.4%. TPG RE Finance Trust's dividend payout ratio is 177.78%.

Wall Street Analysts Forecast Growth

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

TPG RE Finance Trust Company Profile

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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