MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 1,290,256 Shares of TPG RE Finance Trust, Inc. $TRTX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. significantly increased its stake in TPG RE Finance Trust by acquiring 1,290,256 shares, raising its ownership to approximately 1.66% valued at $10.7 million.
• TPG RE Finance Trust announced a quarterly dividend increase to $0.3906 per share, resulting in an annual yield of 16.4%, alongside the authorization of a $25 million share buyback plan.
• Research analysts have upgraded TPG RE Finance Trust's rating, with Zacks raising it to a "strong-buy" and Wells Fargo increasing the price target to $11.00.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) by 3,783.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,324,357 shares of the company's stock after purchasing an additional 1,290,256 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.66% of TPG RE Finance Trust worth $10,794,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC purchased a new position in TPG RE Finance Trust during the first quarter valued at $41,000. New Age Alpha Advisors LLC grew its stake in TPG RE Finance Trust by 38.8% during the first quarter. New Age Alpha Advisors LLC now owns 7,009 shares of the company's stock valued at $57,000 after acquiring an additional 1,959 shares in the last quarter. AlphaQuest LLC grew its stake in TPG RE Finance Trust by 151.2% during the first quarter. AlphaQuest LLC now owns 8,567 shares of the company's stock valued at $70,000 after acquiring an additional 5,157 shares in the last quarter. Vident Advisory LLC purchased a new position in TPG RE Finance Trust during the first quarter valued at $118,000. Finally, AQR Capital Management LLC purchased a new position in TPG RE Finance Trust during the first quarter valued at $127,000. 57.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

TPG RE Finance Trust Price Performance

Shares of NYSE:TRTX traded up $0.01 on Friday, reaching $9.44. The company's stock had a trading volume of 754,551 shares, compared to its average volume of 600,419. The company has a 50-day simple moving average of $8.83 and a 200 day simple moving average of $8.18. The company has a market cap of $741.50 million, a P/E ratio of 14.52, a PEG ratio of 2.54 and a beta of 1.68. 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, Inc. has a 52-week low of $6.47 and a 52-week high of $9.85.

TPG RE Finance Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be issued a $0.3906 dividend. This represents a $1.56 annualized dividend and a dividend yield of 16.6%. This is a positive change from TPG RE Finance Trust's previous quarterly dividend of $0.24. TPG RE Finance Trust's dividend payout ratio (DPR) is 147.69%.

TPG RE Finance Trust announced that its board has initiated a stock buyback program on Thursday, September 4th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

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.