JPMorgan Chase & Co. Raises TPG RE Finance Trust (NYSE:TRTX) Price Target to $7.50

TPG RE Finance Trust (NYSE:TRTX - Free Report) had its price target increased by JPMorgan Chase & Co. from $7.00 to $7.50 in a research report sent to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

TRTX has been the subject of several other research reports. Wells Fargo & Company increased their price objective on TPG RE Finance Trust from $6.00 to $7.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Bank of America reissued an underperform rating and set a $6.50 price objective on shares of TPG RE Finance Trust in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, TPG RE Finance Trust currently has an average rating of Moderate Buy and an average price target of $7.70.

TPG RE Finance Trust Stock Performance

Shares of TRTX stock traded down $0.35 during mid-day trading on Wednesday, hitting $7.46. The stock had a trading volume of 842,877 shares, compared to its average volume of 660,068. The firm has a market cap of $580.91 million, a PE ratio of -4.41 and a beta of 2.10. The company's 50-day simple moving average is $6.95 and its 200-day simple moving average is $6.44. The company has a debt-to-equity ratio of 2.46, a current ratio of 158.41 and a quick ratio of 158.41. TPG RE Finance Trust has a fifty-two week low of $4.64 and a fifty-two week high of $8.12.

TPG RE Finance Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 12.87%. The ex-dividend date of this dividend is Wednesday, March 27th. TPG RE Finance Trust's payout ratio is currently -56.80%.

Hedge Funds Weigh In On TPG RE Finance Trust

Several hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in shares of TPG RE Finance Trust in the third quarter valued at approximately $1,203,000. Swiss National Bank boosted its holdings in shares of TPG RE Finance Trust by 9.2% during the third quarter. Swiss National Bank now owns 127,600 shares of the company's stock worth $859,000 after purchasing an additional 10,700 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of TPG RE Finance Trust by 48.0% in the third quarter. Hsbc Holdings PLC now owns 42,399 shares of the company's stock valued at $284,000 after purchasing an additional 13,745 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in TPG RE Finance Trust by 3,051.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 935,165 shares of the company's stock valued at $6,294,000 after purchasing an additional 905,492 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in TPG RE Finance Trust by 0.9% during the third quarter. Vanguard Group Inc. now owns 5,985,415 shares of the company's stock worth $40,282,000 after buying an additional 51,839 shares during the period. Hedge funds and other institutional investors own 57.12% of the company's stock.

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.