TPG RE Finance Trust, Inc. $TRTX Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

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 stake in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) by 3,783.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,324,357 shares of the company's stock after buying an additional 1,290,256 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.66% of TPG RE Finance Trust worth $10,794,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in TPG RE Finance Trust by 49.2% during the fourth quarter. Bank of America Corp DE now owns 426,174 shares of the company's stock worth $3,622,000 after buying an additional 140,507 shares in the last quarter. Deutsche Bank AG lifted its position in TPG RE Finance Trust by 114.6% during the fourth quarter. Deutsche Bank AG now owns 130,903 shares of the company's stock worth $1,113,000 after buying an additional 69,895 shares in the last quarter. Millennium Management LLC lifted its position in TPG RE Finance Trust by 6.9% during the fourth quarter. Millennium Management LLC now owns 1,053,474 shares of the company's stock worth $8,955,000 after buying an additional 68,116 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in TPG RE Finance Trust by 23.9% during the fourth 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 buying an additional 37,282 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in TPG RE Finance Trust by 1.7% during the first quarter. Vanguard Group Inc. now owns 5,025,832 shares of the company's stock worth $40,961,000 after buying an additional 86,212 shares in the last quarter. Hedge funds and other institutional investors own 57.12% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company lifted their target price on TPG RE Finance Trust from $9.00 to $11.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Zacks Research upgraded TPG RE Finance Trust from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Finally, Wall Street Zen upgraded TPG RE Finance Trust from a "sell" rating to a "hold" rating in a research report 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 stock. Based on data from MarketBeat.com, TPG RE Finance Trust presently has a consensus rating of "Buy" and an average price target of $9.50.

TPG RE Finance Trust Stock Down 0.5%

TRTX traded down $0.05 on Monday, hitting $9.40. 91,097 shares of the company were exchanged, compared to its average volume of 660,382. TPG RE Finance Trust, Inc. has a twelve month low of $6.47 and a twelve month high of $9.85. The company has a market cap of $738.35 million, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 2.54 and a beta of 1.68. The company has a current ratio of 193.29, a quick ratio of 193.29 and a debt-to-equity ratio of 2.75. The firm has a 50-day moving average price of $8.83 and a two-hundred day moving average price of $8.18.

TPG RE Finance Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, September 26th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Friday, September 26th. TPG RE Finance Trust's dividend payout ratio is currently 147.69%.

TPG RE Finance Trust declared that its board has initiated a stock buyback program on Thursday, September 4th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

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.