Wells Fargo & Company Increases TPG RE Finance Trust (NYSE:TRTX) Price Target to $9.00

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) had its price objective upped by analysts at Wells Fargo & Company from $7.00 to $9.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 1.69% from the stock's previous close.

A number of other research analysts have also recently issued reports on the stock. Bank of America reiterated an "underperform" rating and issued a $6.50 target price on shares of TPG RE Finance Trust in a research note on Monday, March 4th. Raymond James lowered shares of TPG RE Finance Trust from a "strong-buy" rating to an "outperform" rating and set a $8.50 price objective on the stock. in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. raised their target price on TPG RE Finance Trust from $7.00 to $7.50 and gave the stock a "neutral" rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TPG RE Finance Trust presently has a consensus rating of "Hold" and a consensus price target of $8.10.

TPG RE Finance Trust Stock Performance

Shares of TRTX traded up $0.25 on Tuesday, reaching $8.85. 828,890 shares of the stock traded hands, compared to its average volume of 642,896. The stock's 50-day moving average price is $7.65 and its 200-day moving average price is $6.62. The company has a debt-to-equity ratio of 2.25, a current ratio of 138.05 and a quick ratio of 138.05. The firm has a market cap of $689.15 million, a price-to-earnings ratio of -5.64 and a beta of 2.10. TPG RE Finance Trust has a 12 month low of $4.64 and a 12 month high of $8.89.

Hedge Funds Weigh In On TPG RE Finance Trust

A number of large investors have recently bought and sold shares of TRTX. Acadian Asset Management LLC bought a new position in shares of TPG RE Finance Trust in the third quarter valued at $1,203,000. Swiss National Bank grew its position in 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 buying an additional 10,700 shares in the last quarter. Hsbc Holdings PLC increased its stake in TPG RE Finance Trust by 48.0% during the 3rd quarter. Hsbc Holdings PLC now owns 42,399 shares of the company's stock worth $284,000 after acquiring an additional 13,745 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 worth $6,294,000 after purchasing an additional 905,492 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of TPG RE Finance Trust by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,985,415 shares of the company's stock valued at $40,282,000 after buying an additional 51,839 shares in the last quarter. Institutional investors and hedge funds own 57.12% of the company's stock.

About TPG RE Finance Trust

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.