Cubist Systematic Strategies LLC Has $1.40 Million Stock Holdings in TPG RE Finance Trust, Inc. $TRTX

Key Points

• Cubist Systematic Strategies LLC has reduced its position in TPG RE Finance Trust by 35.7%, now owning approximately 171,297 shares valued at $1.4 million after selling nearly 95,000 shares.
• TPG RE Finance Trust announced a $25 million share buyback plan, suggesting the board believes its shares are undervalued, and declared a quarterly dividend of $0.24 per share, yielding 9.9% annually.
• Multiple analysts have upgraded their ratings on TPG RE Finance Trust, with Wells Fargo setting a new price target of $11.00, indicating increasing confidence in the stock's potential.

Cubist Systematic Strategies LLC trimmed its position in TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) by 35.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,297 shares of the company's stock after selling 94,963 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.21% of TPG RE Finance Trust worth $1,396,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bank of America Corp DE raised its position in shares of TPG RE Finance Trust by 49.2% in the 4th quarter. Bank of America Corp DE now owns 426,174 shares of the company's stock valued at $3,622,000 after acquiring an additional 140,507 shares during the period. Deutsche Bank AG increased its stake in TPG RE Finance Trust by 114.6% during the 4th quarter. Deutsche Bank AG now owns 130,903 shares of the company's stock worth $1,113,000 after purchasing an additional 69,895 shares in the last quarter. Millennium Management LLC increased its stake in TPG RE Finance Trust by 6.9% during the 4th quarter. Millennium Management LLC now owns 1,053,474 shares of the company's stock worth $8,955,000 after purchasing an additional 68,116 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in TPG RE Finance Trust by 7.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,101 shares of the company's stock worth $290,000 after purchasing an additional 2,478 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in TPG RE Finance Trust by 23.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,214 shares of the company's stock worth $1,642,000 after purchasing an additional 37,282 shares in the last quarter. 57.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen raised TPG RE Finance Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Zacks Research raised TPG RE Finance Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, Wells Fargo & Company raised their price target on shares of TPG RE Finance Trust from $9.00 to $11.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $9.50.

TPG RE Finance Trust Stock Up 0.1%

Shares of NYSE TRTX traded up $0.01 during trading hours on Friday, hitting $9.44. The company had a trading volume of 754,551 shares, compared to its average volume of 600,419. The stock has a market capitalization of $741.50 million, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 2.54 and a beta of 1.68. The company has a quick ratio of 193.29, a current ratio of 193.29 and a debt-to-equity ratio of 2.75. TPG RE Finance Trust, Inc. has a 1-year low of $6.47 and a 1-year high of $9.85. The firm's 50 day moving average is $8.83 and its 200-day moving average is $8.18.

TPG RE Finance Trust announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 4th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

TPG RE Finance Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be issued a dividend of $0.3906 per share. This is an increase from TPG RE Finance Trust's previous quarterly dividend of $0.24. This represents a $1.56 annualized dividend and a yield of 16.6%. TPG RE Finance Trust's dividend payout ratio (DPR) is currently 147.69%.

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.