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

Key Points

• Nuveen LLC has initiated a new investment in TPG RE Finance Trust, purchasing 162,093 shares valued at approximately $1.32 million, bringing its ownership to about 0.20% of the company.
• TPG RE Finance Trust declared a quarterly dividend of $0.24 per share with an annualized yield of 10.3%, despite a high dividend payout ratio of 147.69%.
• Analysts are optimistic about TPG RE Finance Trust, with Wells Fargo raising their price target from $9.00 to $11.00 and a consensus rating of "Buy" among equities research analysts.

Nuveen LLC purchased a new stake in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 162,093 shares of the company's stock, valued at approximately $1,321,000. Nuveen LLC owned 0.20% of TPG RE Finance Trust as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 valued at $40,961,000 after buying an additional 86,212 shares during the period. Two Sigma Advisers LP raised its holdings 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 valued at $13,478,000 after buying an additional 303,100 shares during the period. Millennium Management LLC raised its holdings 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 valued at $8,955,000 after buying an additional 68,116 shares during the period. Two Sigma Investments LP increased its stake in TPG RE Finance Trust by 17.9% in the fourth 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 during the period. Finally, Wellington Management Group LLP purchased a new stake in TPG RE Finance Trust in the fourth quarter worth $5,983,000. Hedge funds and other institutional investors own 57.12% of the company's stock.

TPG RE Finance Trust Stock Up 0.6%

TRTX stock traded up $0.06 during trading on Wednesday, reaching $9.38. 335,440 shares of the company traded hands, compared to its average volume of 654,188. TPG RE Finance Trust, Inc. has a 12 month low of $6.47 and a 12 month high of $9.40. The business has a 50 day simple moving average of $8.57 and a 200 day simple moving average of $8.12. The company has a market capitalization of $736.78 million, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 2.51 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, July 25th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.2%. TPG RE Finance Trust's payout ratio is 147.69%.

Analysts Set New Price Targets

TRTX has been the topic of a number of recent analyst reports. Wells Fargo & Company increased 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. Wall Street Zen upgraded TPG RE Finance Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Zacks Research upgraded TPG RE Finance Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $9.50.

TPG RE Finance Trust 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.