Invesco Ltd. Trims Stake in TPG RE Finance Trust, Inc. $TRTX

Key Points

• Invesco Ltd. reduced its stake in TPG RE Finance Trust by 14.5% in the first quarter, now holding 244,500 shares valued at approximately $1.99 million.
• Bank of America and Deutsche Bank significantly increased their holdings in TPG RE Finance Trust during the fourth quarter, showcasing a trend of increased institutional interest in the company.
• The latest dividend announced was $0.24 per share, yielding 10.3% annually, though the payout ratio stands at an unusually high 147.69%.

Invesco Ltd. cut its position in TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) by 14.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,500 shares of the company's stock after selling 41,333 shares during the quarter. Invesco Ltd. owned 0.31% of TPG RE Finance Trust worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in TPG RE Finance Trust by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 5,025,832 shares of the company's stock worth $40,961,000 after purchasing an additional 86,212 shares in the last quarter. Two Sigma Advisers LP grew its stake in TPG RE Finance Trust by 23.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,585,600 shares of the company's stock worth $13,478,000 after purchasing an additional 303,100 shares in the last quarter. Millennium Management LLC grew 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. Two Sigma Investments LP grew its stake in TPG RE Finance Trust by 17.9% during the 4th quarter. Two Sigma Investments LP now owns 1,015,597 shares of the company's stock worth $8,633,000 after purchasing an additional 154,401 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in TPG RE Finance Trust during the 4th quarter worth $5,983,000. 57.12% of the stock is owned by institutional investors and hedge funds.

TPG RE Finance Trust Stock Up 0.9%

Shares of NYSE:TRTX traded up $0.09 on Monday, hitting $9.36. 674,475 shares of the company's stock were exchanged, compared to its average volume of 499,036. The firm's 50-day moving average is $8.55 and its 200 day moving average is $8.11. The company has a market capitalization of $735.21 million, a PE ratio of 14.39, a P/E/G ratio of 2.51 and a beta of 1.68. TPG RE Finance Trust, Inc. has a 1-year low of $6.47 and a 1-year high of $9.38. The company has a debt-to-equity ratio of 2.75, a quick ratio of 193.29 and a current ratio of 193.29.

TPG RE Finance Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, July 25th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 10.3%. The ex-dividend date of this dividend was Friday, June 27th. TPG RE Finance Trust's dividend payout ratio is currently 147.69%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TRTX shares. Zacks Research raised TPG RE Finance Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Wells Fargo & Company boosted their target price on 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. Finally, Wall Street Zen raised TPG RE Finance Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $9.50.

About TPG RE Finance Trust

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.