Gratia Capital LLC Sells 2,234,416 Shares of TPG RE Finance Trust, Inc. $TRTX

Key Points

• Gratia Capital cut its TPG RE Finance Trust stake by 51.9%, selling 2,234,416 shares and retaining 2,067,333 shares worth approximately $17.3 million. Institutional investors collectively own 57.12% of TRTX.
• TRTX reported quarterly earnings of $0.23 per share, below the $0.26 analyst consensus, while revenue of $34.01 million also missed estimates. Shares opened at $7.67, near the 52-week low of $7.57.
• The company paid a quarterly dividend of $0.24 per share, equivalent to a 12.5% annualized yield, although its 177.78% payout ratio signals that the dividend exceeds reported earnings. Analysts maintain a “Moderate Buy” consensus with a $10.00 target price.

Gratia Capital LLC reduced its position in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) by 51.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,067,333 shares of the company's stock after selling 2,234,416 shares during the quarter. TPG RE Finance Trust accounts for approximately 10.5% of Gratia Capital LLC's investment portfolio, making the stock its 2nd biggest holding. Gratia Capital LLC owned approximately 2.69% of TPG RE Finance Trust worth $17,304,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TRTX. Kemnay Advisory Services Inc. bought a new position in shares of TPG RE Finance Trust in the 4th quarter valued at about $30,000. Kestra Advisory Services LLC acquired a new position in shares of TPG RE Finance Trust during the 4th quarter worth about $30,000. BNP Paribas Financial Markets raised its holdings in shares of TPG RE Finance Trust by 86.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company's stock valued at $50,000 after purchasing an additional 3,013 shares during the period. Russell Investments Group Ltd. raised its holdings 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 period. Finally, Tower Research Capital LLC TRC lifted its stake in TPG RE Finance Trust by 249.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,818 shares of the company's stock valued at $53,000 after purchasing an additional 4,865 shares during the last quarter. Institutional investors and hedge funds own 57.12% of the company's stock.

TPG RE Finance Trust Stock Performance

Shares of TRTX stock opened at $7.67 on Thursday. TPG RE Finance Trust, Inc. has a 52 week low of $7.57 and a 52 week high of $9.63. The company has a market capitalization of $589.21 million, a price-to-earnings ratio of 14.21, a PEG ratio of 1.70 and a beta of 1.42. The company has a 50-day simple moving average of $8.14 and a 200 day simple moving average of $8.24. 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 (NYSE:TRTX - Get Free Report) last released its quarterly earnings results 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). 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 during the quarter, compared to the consensus estimate of $37.30 million. On average, sell-side analysts predict that TPG RE Finance Trust, Inc. will post 0.92 earnings per share for the current year.

TPG RE Finance Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, June 26th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 12.5%. The ex-dividend date of this dividend was Friday, June 26th. TPG RE Finance Trust's dividend payout ratio (DPR) is presently 177.78%.

Wall Street Analysts Forecast Growth

TRTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on TPG RE Finance Trust from $9.50 to $10.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Citigroup reaffirmed a "market outperform" rating on shares of TPG RE Finance Trust in a research report on Tuesday, June 9th. Wall Street Zen upgraded TPG RE Finance Trust from a "sell" rating to a "hold" rating in a research note on Saturday, September 5th. Finally, Weiss Ratings lowered TPG RE Finance Trust from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, September 1st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.

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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