TPG RE Finance Trust (NYSE:TRTX) Price Target Raised to $10.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on TPG RE Finance Trust to $10.00 from $9.50 and kept an overweight rating, implying about 14.22% upside from the prior close.
• Other analysts were mixed but generally constructive: Zacks upgraded TRTX to hold, Weiss reiterated hold, and Citigroup maintained market outperform. The stock now has a consensus rating of Moderate Buy with an average price target of $10.00.
• TRTX reported quarterly EPS of $0.25, matching expectations, and revenue of $37.31 million, slightly above estimates. The shares were up 2.2% in Friday trading and opened at $8.76.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) had its target price increased by JPMorgan Chase & Co. from $9.50 to $10.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 14.22% from the company's previous close.

A number of other brokerages also recently issued reports on TRTX. Zacks Research upgraded shares of TPG RE Finance Trust from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. Weiss Ratings reissued a "hold (c)" rating on shares of TPG RE Finance Trust in a research note on Friday, May 22nd. Finally, Citigroup reissued a "market outperform" rating on shares of TPG RE Finance Trust in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.00.

TPG RE Finance Trust Stock Up 2.2%

Shares of TRTX opened at $8.76 on Friday. TPG RE Finance Trust has a 52 week low of $7.57 and a 52 week high of $9.85. The firm has a market cap of $676.85 million, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.75 and a beta of 1.40. The firm's 50-day simple moving average is $8.43 and its 200 day simple moving average is $8.48. The company has a debt-to-equity ratio of 3.11, a quick ratio of 201.40 and a current ratio of 201.40.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. TPG RE Finance Trust had a return on equity of 6.91% and a net margin of 19.38%.The business had revenue of $37.31 million during the quarter, compared to analysts' expectations of $37.15 million. On average, analysts forecast that TPG RE Finance Trust will post 0.93 earnings per share for the current year.

Institutional Investors Weigh In On TPG RE Finance Trust

A number of hedge funds have recently added to or reduced their stakes in TRTX. Kemnay Advisory Services Inc. bought a new position in shares of TPG RE Finance Trust during the 4th quarter worth about $30,000. Kestra Advisory Services LLC acquired a new stake in TPG RE Finance Trust in the 4th quarter valued at $30,000. BNP Paribas Financial Markets increased its stake in TPG RE Finance Trust by 86.6% during 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. Russell Investments Group Ltd. raised its holdings in TPG RE Finance Trust by 2,454.1% during the third quarter. Russell Investments Group Ltd. now owns 5,951 shares of the company's stock worth $51,000 after buying an additional 5,718 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of 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 buying an additional 4,865 shares in the last quarter. 57.12% of the stock is currently owned by institutional investors.

TPG RE Finance Trust Company Profile

TPG RE Finance Trust, Inc NYSE: TRTX is a growth-oriented real estate finance company that originates and invests in a diversified portfolio of commercial real estate debt. The company’s primary business activities include the origination and acquisition of senior mortgage loans, mezzanine loans and preferred equity investments. These investments predominantly finance multifamily, office, industrial, retail and hospitality properties across the United States.

TPG RE Finance Trust pursues a flexible capital strategy, structuring transactions that range from first-lien floating-rate loans to subordinated debt and preferred equity.

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