TPG RE Finance Trust (NYSE:TRTX) Downgraded to "Hold" Rating by Zacks Research

Key Points

• TPG RE Finance Trust has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting a more cautious outlook on the stock.
• Despite the downgrade, Wells Fargo recently raised its price target for TRTX shares from $9.00 to $11.00, indicating differing opinions among analysts about the stock's potential.
• The company initiated a $25 million share repurchase plan, suggesting that the board believes its shares are undervalued in the market.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on TRTX. Wells Fargo & Company lifted 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. Citigroup downgraded shares of TPG RE Finance Trust to a "market perform" rating in a research report on Wednesday, September 17th. Citizens Jmp downgraded shares of TPG RE Finance Trust from an "outperform" rating to a "market perform" rating in a research report on Wednesday, September 17th. JMP Securities reaffirmed a "market perform" rating on shares of TPG RE Finance Trust in a research note on Wednesday, September 17th. Finally, Wall Street Zen lowered TPG RE Finance Trust from a "hold" rating to a "sell" rating in a research note on Saturday, September 20th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $9.50.

TPG RE Finance Trust Price Performance

TRTX stock opened at $8.58 on Monday. The firm has a 50 day moving average of $9.05 and a 200-day moving average of $8.22. TPG RE Finance Trust has a 12-month low of $6.47 and a 12-month 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 company has a market cap of $674.31 million, a price-to-earnings ratio of 13.20, a PEG ratio of 2.29 and a beta of 1.68.

TPG RE Finance Trust announced that its board has initiated a share repurchase plan on Thursday, September 4th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On TPG RE Finance Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new position in shares of TPG RE Finance Trust during the 4th quarter worth $203,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of TPG RE Finance Trust by 23.9% during 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 worth $1,642,000 after purchasing an additional 37,282 shares during the period. Mackenzie Financial Corp lifted its stake in shares of TPG RE Finance Trust by 299.0% during the 4th quarter. Mackenzie Financial Corp now owns 59,011 shares of the company's stock worth $502,000 after purchasing an additional 44,222 shares during the period. Wellington Management Group LLP purchased a new position in shares of TPG RE Finance Trust during the 4th quarter worth $5,983,000. Finally, Arlington Trust Co LLC purchased a new position in shares of TPG RE Finance Trust during the 1st quarter worth $41,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.