Wolverine Asset Management LLC Cuts Stock Position in TPG RE Finance Trust, Inc. (NYSE:TRTX)

Key Points

• Wolverine Asset Management LLC reduced its stake in TPG RE Finance Trust by 27.6%, selling 74,359 shares and now owning approximately 194,733 shares valued at $1,587,000.
• Several institutional investors, including Long Pond Capital and Renaissance Technologies, have significantly increased their holdings in TPG RE Finance Trust during the fourth quarter.
• TPG RE Finance Trust announced a quarterly dividend of $0.24 per share, which translates to a 10.8% yield, despite a payout ratio of 147.69%.

Wolverine Asset Management LLC trimmed its position in TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) by 27.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,733 shares of the company's stock after selling 74,359 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.24% of TPG RE Finance Trust worth $1,587,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRTX. Long Pond Capital LP lifted its holdings in shares of TPG RE Finance Trust by 117.1% in the fourth quarter. Long Pond Capital LP now owns 7,303,626 shares of the company's stock worth $62,081,000 after buying an additional 3,938,800 shares in the last quarter. Wellington Management Group LLP purchased a new stake in TPG RE Finance Trust in the fourth quarter valued at approximately $5,983,000. Solel Partners LP purchased a new stake in TPG RE Finance Trust in the fourth quarter valued at approximately $5,097,000. Two Sigma Advisers LP raised its stake in TPG RE Finance Trust by 23.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,585,600 shares of the company's stock valued at $13,478,000 after purchasing an additional 303,100 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in TPG RE Finance Trust by 58.8% in the fourth quarter. Renaissance Technologies LLC now owns 570,699 shares of the company's stock valued at $4,851,000 after purchasing an additional 211,205 shares in the last quarter. 57.12% of the stock is owned by hedge funds and other institutional investors.

TPG RE Finance Trust Price Performance

Shares of NYSE TRTX traded up $0.08 during midday trading on Wednesday, reaching $9.10. 180,846 shares of the stock traded hands, compared to its average volume of 668,329. The company has a debt-to-equity ratio of 2.75, a current ratio of 193.29 and a quick ratio of 193.29. The company's 50 day moving average is $8.19 and its 200 day moving average is $8.05. TPG RE Finance Trust, Inc. has a one year low of $6.47 and a one year high of $9.31. The stock has a market capitalization of $714.79 million, a PE ratio of 13.99, a P/E/G ratio of 2.35 and a beta of 1.63.

TPG RE Finance Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, July 25th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend was Friday, June 27th. TPG RE Finance Trust's dividend payout ratio (DPR) is currently 147.69%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TRTX. 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. JPMorgan Chase & Co. upped their price target on shares of TPG RE Finance Trust from $7.00 to $8.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company boosted their target price on TPG RE Finance Trust from $9.00 to $11.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st.

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.