TPG RE Finance Trust (NYSE:TRTX) Given Hold (C) Rating at Weiss Ratings

Key Points

• TPG RE Finance Trust's stock rating has been restated as "hold (c)" by Weiss Ratings, with a consensus rating of "Hold" and an average target price of $9.50.
• The company's board has approved a $25 million stock buyback program, indicating that the board believes shares may be undervalued.
• Shares of TPG RE Finance Trust saw a 0.9% increase during midday trading, reaching $8.66, with a market cap of approximately $680.59 million.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also issued research reports about the company. Citigroup lowered TPG RE Finance Trust to a "market perform" rating in a report on Wednesday, September 17th. JMP Securities reaffirmed a "market perform" rating on shares of TPG RE Finance Trust in a report on Wednesday, September 17th. Wall Street Zen lowered TPG RE Finance Trust from a "hold" rating to a "sell" rating in a report on Saturday, September 20th. Zacks Research lowered TPG RE Finance Trust from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Finally, Citizens Jmp lowered TPG RE Finance Trust from an "outperform" rating to a "market perform" rating in a report on Wednesday, September 17th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $9.50.

TPG RE Finance Trust Stock Up 0.9%

Shares of TRTX traded up $0.08 during midday trading on Wednesday, reaching $8.66. 317,372 shares of the stock were exchanged, compared to its average volume of 676,402. The company has a quick ratio of 193.29, a current ratio of 193.29 and a debt-to-equity ratio of 2.75. The company has a market cap of $680.59 million, a price-to-earnings ratio of 13.32, a P/E/G ratio of 2.30 and a beta of 1.68. The firm has a 50 day simple moving average of $9.08 and a 200-day simple moving average of $8.23. TPG RE Finance Trust has a 12-month low of $6.47 and a 12-month high of $9.85.

TPG RE Finance Trust declared that its board has approved a stock buyback 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 stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On TPG RE Finance Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co lifted its position in shares of TPG RE Finance Trust by 395.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 14,383 shares of the company's stock worth $111,000 after buying an additional 11,481 shares during the period. Tower Research Capital LLC TRC raised its position in TPG RE Finance Trust by 249.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,818 shares of the company's stock valued at $53,000 after purchasing an additional 4,865 shares during the last quarter. Vident Advisory LLC raised its position in TPG RE Finance Trust by 77.2% in the 2nd quarter. Vident Advisory LLC now owns 25,633 shares of the company's stock valued at $198,000 after purchasing an additional 11,166 shares during the last quarter. Modern Wealth Management LLC bought a new position in TPG RE Finance Trust in the 2nd quarter valued at $161,000. Finally, BNP Paribas Financial Markets raised its position 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 during the last quarter. 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.

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