Brokerages Set TPG RE Finance Trust, Inc. (NYSE:TRTX) Target Price at $9.50

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 earned a consensus rating of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $9.50.

TRTX has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of TPG RE Finance Trust from $9.00 to $11.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Citizens Jmp lowered shares of TPG RE Finance Trust from an "outperform" rating to a "market perform" rating in a report on Wednesday. Citigroup cut shares of TPG RE Finance Trust to a "market perform" rating in a research note on Wednesday. JMP Securities reissued a "market perform" rating on shares of TPG RE Finance Trust in a report on Wednesday. Finally, Wall Street Zen downgraded shares of TPG RE Finance Trust from a "hold" rating to a "sell" rating in a research report on Saturday.

TPG RE Finance Trust Stock Performance

Shares of TRTX traded down $0.11 during mid-day trading on Wednesday, hitting $9.24. 2,167,484 shares of the company's stock were exchanged, compared to its average volume of 663,348. TPG RE Finance Trust has a fifty-two week low of $6.47 and a fifty-two week high of $9.85. The company has a current ratio of 193.29, a quick ratio of 193.29 and a debt-to-equity ratio of 2.75. The firm has a market capitalization of $725.78 million, a P/E ratio of 14.21, a P/E/G ratio of 2.48 and a beta of 1.68. The business's 50 day moving average is $8.96 and its two-hundred day moving average is $8.21.

TPG RE Finance Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, September 26th will be issued a $0.24 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.96 annualized dividend and a yield of 10.4%. TPG RE Finance Trust's payout ratio is 147.69%.

TPG RE Finance Trust declared that its board has initiated a stock repurchase program on Thursday, September 4th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Institutional Trading of TPG RE Finance Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC increased its stake in shares of TPG RE Finance Trust by 473.7% during the second quarter. CWM LLC now owns 3,517 shares of the company's stock valued at $27,000 after buying an additional 2,904 shares during the period. Arlington Trust Co LLC acquired a new stake in shares of TPG RE Finance Trust in the 1st quarter valued at about $41,000. BNP Paribas Financial Markets increased its stake in TPG RE Finance Trust by 86.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company's stock valued at $50,000 after purchasing an additional 3,013 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in TPG RE Finance Trust by 249.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,818 shares of the company's stock valued at $53,000 after acquiring an additional 4,865 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in TPG RE Finance Trust by 24.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,998 shares of the company's stock valued at $54,000 after acquiring an additional 1,375 shares during the period. Hedge funds and other institutional investors 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.