TPG RE Finance Trust, Inc. (NYSE:TRTX) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• TPG RE Finance Trust, Inc. has received a consensus rating of "Moderate Buy" from five rating firms, with a 12-month price target average of $9.50.
• The company announced a quarterly dividend of $0.24 per share, with a yield of 10.4%, while also revealing a stock repurchase program authorizing up to $25 million in buybacks.
• Institutional investors have recently increased their stakes in TPG RE Finance Trust, with Bank of America boosting its position by 49.2% and Deutsche Bank by 114.6% in the last quarter.

Shares of TPG RE Finance Trust, Inc. (NYSE:TRTX - Get Free Report) have received an average rating of "Moderate Buy" from the five ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $9.50.

TRTX has been the subject of several research reports. Zacks Research upgraded shares of TPG RE Finance Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Wells Fargo & Company raised their price objective on shares of TPG RE Finance Trust from $9.00 to $11.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. JMP Securities reissued a "market perform" rating on shares of TPG RE Finance Trust in a research note on Wednesday. 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. Finally, Citizens Jmp cut shares of TPG RE Finance Trust from an "outperform" rating to a "market perform" rating in a research report on Wednesday.

Hedge Funds Weigh In On TPG RE Finance Trust

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in TPG RE Finance Trust by 49.2% during the 4th quarter. Bank of America Corp DE now owns 426,174 shares of the company's stock worth $3,622,000 after purchasing an additional 140,507 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of TPG RE Finance Trust by 114.6% in the 4th quarter. Deutsche Bank AG now owns 130,903 shares of the company's stock valued at $1,113,000 after purchasing an additional 69,895 shares during the last quarter. Millennium Management LLC boosted its stake in shares of 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 valued at $8,955,000 after purchasing an additional 68,116 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $290,000 after purchasing an additional 2,478 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of TPG RE Finance Trust by 23.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,214 shares of the company's stock valued at $1,642,000 after purchasing an additional 37,282 shares during the last quarter. 57.12% of the stock is currently owned by institutional investors and hedge funds.

TPG RE Finance Trust Stock Down 0.2%

Shares of TPG RE Finance Trust stock traded down $0.02 on Wednesday, hitting $9.26. 249,737 shares of the company traded hands, compared to its average volume of 661,862. The company has a 50-day moving average price of $8.89 and a 200 day moving average price of $8.19. The company has a quick ratio of 193.29, a current ratio of 193.29 and a debt-to-equity ratio of 2.75. TPG RE Finance Trust has a 12-month low of $6.47 and a 12-month high of $9.85. The company has a market cap of $727.35 million, a PE ratio of 14.24, a PEG ratio of 2.54 and a beta of 1.68.

TPG RE Finance Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, September 26th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.4%. The ex-dividend date of this dividend is Friday, September 26th. TPG RE Finance Trust's dividend payout ratio (DPR) is 147.69%.

TPG RE Finance Trust announced that its Board of Directors has approved a stock repurchase program on Thursday, September 4th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

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.

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