Wellington Management Group LLP Grows Stake in TPG RE Finance Trust, Inc. $TRTX

Key Points

• Wellington Management Group LLP increased its stake in TPG RE Finance Trust, Inc. by 5.9% in Q1, now holding approximately 0.93% of the company's stock worth $6,075,000.
• TPG RE Finance Trust announced a quarterly dividend of $0.24 per share, reflecting an annualized dividend of $0.96 and a yield of 10.4%.
• Analysts have raised their price targets for TPG RE Finance Trust, with Wells Fargo increasing it from $9.00 to $11.00 and Zacks upgrading its rating to a "strong-buy."

Wellington Management Group LLP increased its stake in TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 745,419 shares of the company's stock after purchasing an additional 41,519 shares during the quarter. Wellington Management Group LLP owned about 0.93% of TPG RE Finance Trust worth $6,075,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE grew its position in shares of TPG RE Finance Trust by 49.2% in the fourth quarter. Bank of America Corp DE now owns 426,174 shares of the company's stock valued at $3,622,000 after purchasing an additional 140,507 shares in the last quarter. Raymond James Financial Inc. purchased a new position in TPG RE Finance Trust during the fourth quarter worth about $548,000. Deutsche Bank AG grew 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 increased its stake in TPG RE Finance Trust by 6.9% in the 4th quarter. Millennium Management LLC now owns 1,053,474 shares of the company's stock worth $8,955,000 after acquiring an additional 68,116 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in TPG RE Finance Trust by 7.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,101 shares of the company's stock worth $290,000 after acquiring an additional 2,478 shares during the last quarter. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on TRTX shares. Wall Street Zen upgraded TPG RE Finance Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company upped 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. 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 analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, TPG RE Finance Trust currently has an average rating of "Buy" and a consensus target price of $9.50.

TPG RE Finance Trust Price Performance

Shares of TPG RE Finance Trust stock traded up $0.09 during trading on Friday, hitting $9.36. 674,475 shares of the stock traded hands, compared to its average volume of 499,036. The company has a quick ratio of 193.29, a current ratio of 193.29 and a debt-to-equity ratio of 2.75. The stock has a market cap of $735.21 million, a price-to-earnings ratio of 14.39, a PEG ratio of 2.51 and a beta of 1.68. The firm's fifty day moving average is $8.52 and its 200-day moving average is $8.11. TPG RE Finance Trust, Inc. has a 52 week low of $6.47 and a 52 week high of $9.38.

TPG RE Finance Trust Dividend Announcement

The business 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 was Friday, June 27th. This represents a $0.96 annualized dividend and a yield of 10.3%. TPG RE Finance Trust's dividend payout ratio is currently 147.69%.

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.