TPG RE Finance Trust, Inc. $TRTX Shares Acquired by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its TPG RE Finance Trust stake by 60.4% in the first quarter, purchasing 350,020 additional shares and bringing its ownership to 929,566 shares, or 1.2% of the company.
• Analyst sentiment remains generally positive, with four Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $10.00; however, one firm recently downgraded the stock to Sell.
• TRTX reported quarterly EPS of $0.23, below the $0.26 consensus estimate, while revenue of $34.01 million also missed expectations. The company pays a $0.24 quarterly dividend, representing a 12.0% yield.

Arrowstreet Capital Limited Partnership raised its stake in TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) by 60.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 929,566 shares of the company's stock after purchasing an additional 350,020 shares during the period. Arrowstreet Capital Limited Partnership owned 1.20% of TPG RE Finance Trust worth $7,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Long Pond Capital LP boosted its holdings in shares of TPG RE Finance Trust by 1.9% in the 4th quarter. Long Pond Capital LP now owns 7,032,626 shares of the company's stock valued at $60,551,000 after buying an additional 134,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in TPG RE Finance Trust by 5.1% in the third quarter. Vanguard Group Inc. now owns 3,957,587 shares of the company's stock valued at $33,877,000 after acquiring an additional 190,505 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in TPG RE Finance Trust by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,930,865 shares of the company's stock valued at $32,037,000 after acquiring an additional 192,126 shares in the last quarter. State Street Corp grew its holdings in shares of TPG RE Finance Trust by 3.8% during the fourth quarter. State Street Corp now owns 1,793,778 shares of the company's stock worth $15,861,000 after purchasing an additional 65,382 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of TPG RE Finance Trust by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 1,783,107 shares of the company's stock valued at $15,357,000 after purchasing an additional 37,173 shares during the last quarter. Institutional investors and hedge funds own 57.12% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TRTX shares. Wall Street Zen downgraded TPG RE Finance Trust from a "hold" rating to a "sell" rating in a research note on Saturday. Zacks Research upgraded TPG RE Finance Trust from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. Weiss Ratings reissued a "hold (c)" rating on shares of TPG RE Finance Trust in a report on Friday, May 22nd. Citigroup restated a "market outperform" rating on shares of TPG RE Finance Trust in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $10.00.

TPG RE Finance Trust Price Performance

TPG RE Finance Trust stock opened at $7.98 on Friday. TPG RE Finance Trust, Inc. has a 12 month low of $7.57 and a 12 month high of $9.85. The company has a debt-to-equity ratio of 3.30, a current ratio of 200.26 and a quick ratio of 201.40. The business has a 50 day simple moving average of $8.48 and a 200-day simple moving average of $8.46. The stock has a market capitalization of $612.32 million, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.63 and a beta of 1.40.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.03). TPG RE Finance Trust had a return on equity of 6.85% and a net margin of 17.03%.The firm had revenue of $34.01 million for the quarter, compared to analysts' expectations of $37.30 million. Equities analysts predict 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 declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, June 26th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 12.0%. The ex-dividend date of this dividend was Friday, June 26th. TPG RE Finance Trust's dividend payout ratio (DPR) is currently 177.78%.

TPG RE Finance Trust 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.

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