Jennison Associates LLC Takes Position in TPG RE Finance Trust, Inc. $TRTX

Key Points

• Jennison Associates LLC disclosed a new 13F position in TPG RE Finance Trust, buying 170,302 shares worth about $1.33 million and ending with roughly 0.22% ownership.
• Analyst sentiment was mixed but generally positive, with JPMorgan raising its price target to $10.00 and the stock carrying an average Moderate Buy rating with four Buy and two Hold ratings.
• TPG RE Finance Trust reported quarterly EPS of $0.25 in line with estimates and announced a quarterly dividend of $0.24 per share, implying an annualized yield of about 11.1%.

Jennison Associates LLC bought a new position in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 170,302 shares of the company's stock, valued at approximately $1,330,000. Jennison Associates LLC owned approximately 0.22% of TPG RE Finance Trust at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new position in shares of TPG RE Finance Trust in the 4th quarter valued at about $30,000. Kemnay Advisory Services Inc. acquired a new stake in TPG RE Finance Trust in the fourth quarter valued at approximately $30,000. BNP Paribas Financial Markets lifted its stake in TPG RE Finance Trust by 86.6% in the second quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company's stock worth $50,000 after acquiring an additional 3,013 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in TPG RE Finance Trust by 2,454.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 5,951 shares of the company's stock worth $51,000 after acquiring an additional 5,718 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of 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. Hedge funds and other institutional investors own 57.12% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on TRTX. Zacks Research upgraded shares of TPG RE Finance Trust from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of TPG RE Finance Trust in a research report on Friday, May 22nd. Citigroup reissued a "market outperform" rating on shares of TPG RE Finance Trust in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. upped their price target on TPG RE Finance Trust from $9.50 to $10.00 and gave the company an "overweight" rating in a 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $10.00.

TPG RE Finance Trust Stock Down 0.2%

Shares of NYSE TRTX opened at $8.66 on Thursday. The business has a 50-day moving average price of $8.45 and a 200 day moving average price of $8.48. The stock has a market cap of $669.89 million, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. The company has a quick ratio of 201.40, a current ratio of 201.40 and a debt-to-equity ratio of 3.11. TPG RE Finance Trust, Inc. has a 52-week low of $7.57 and a 52-week high of $9.85.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The company had revenue of $37.31 million for the quarter, compared to analyst estimates of $37.15 million. TPG RE Finance Trust had a return on equity of 6.91% and a net margin of 19.38%. Equities research analysts forecast that TPG RE Finance Trust, Inc. will post 0.93 earnings per share for the current year.

TPG RE Finance Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, June 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date of this dividend is Friday, June 26th. TPG RE Finance Trust's payout ratio is presently 152.38%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.