BlackRock Inc. Invests $54.39 Million in TPG RE Finance Trust, Inc. $TRTX

Key Points

• BlackRock acquired 6.5 million shares of TPG RE Finance Trust in the second quarter, worth approximately $54.4 million and representing an 8.46% 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 opened at $7.76, near its 52-week low.
• The company’s quarterly dividend equates to an annualized $0.96 payout and a 12.4% yield, though its 177.78% payout ratio highlights potential sustainability concerns. Analysts maintain a generally positive view, with a “Moderate Buy” consensus and a $10 average price target.

BlackRock Inc. bought a new position in TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 6,497,688 shares of the company's stock, valued at approximately $54,386,000. BlackRock Inc. owned about 8.46% of TPG RE Finance Trust as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new stake in TPG RE Finance Trust during the fourth quarter worth $30,000. Kestra Advisory Services LLC acquired a new position in shares of TPG RE Finance Trust in the 4th quarter valued at $30,000. Russell Investments Group Ltd. lifted its stake in shares of TPG RE Finance Trust by 2,454.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 5,951 shares of the company's stock valued at $51,000 after purchasing an additional 5,718 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of TPG RE Finance Trust by 86.6% during 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. Finally, Tower Research Capital LLC TRC grew 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 worth $53,000 after purchasing an additional 4,865 shares during the period. Institutional investors and hedge funds own 57.12% of the company's stock.

TPG RE Finance Trust Trading Up 0.4%

NYSE TRTX opened at $7.76 on Tuesday. The company has a quick ratio of 200.26, a current ratio of 200.26 and a debt-to-equity ratio of 3.30. TPG RE Finance Trust, Inc. has a 52 week low of $7.57 and a 52 week high of $9.85. The stock has a market capitalization of $595.74 million, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.70 and a beta of 1.41. The firm has a 50 day moving average of $8.24 and a two-hundred day moving average of $8.28.

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 analysts' consensus estimates of $0.26 by ($0.03). The firm had revenue of $34.01 million during the quarter, compared to analyst estimates of $37.30 million. TPG RE Finance Trust had a net margin of 17.03% and a return on equity of 6.85%. As a group, research analysts expect that TPG RE Finance Trust, Inc. will post 0.92 EPS for the current fiscal year.

TPG RE Finance Trust Cuts Dividend

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

Analyst Upgrades and Downgrades

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