TPG RE Finance Trust (NYSE:TRTX) Raised to Hold at Wall Street Zen

Key Points

• TPG RE Finance Trust (NYSE:TRTX) has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, with a current consensus rating reflecting a mix of holds and buys from various analysts.
• The company recently approved a share buyback program valued at $25 million, indicating confidence from its board regarding the stock's current valuation.
• TPG RE Finance Trust has demonstrated substantial institutional interest, with a significant increase in holdings from key investors such as MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Balyasny Asset Management L.P.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

A number of other brokerages have also weighed in on TRTX. Weiss Ratings reaffirmed a "hold (c)" rating on shares of TPG RE Finance Trust in a research note on Wednesday, October 8th. JMP Securities restated a "market perform" rating on shares of TPG RE Finance Trust in a report on Wednesday, September 17th. Zacks Research lowered shares of TPG RE Finance Trust from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Citizens Jmp downgraded TPG RE Finance Trust from an "outperform" rating to a "market perform" rating in a research note on Wednesday, September 17th. Finally, Citigroup lowered TPG RE Finance Trust to a "market perform" rating in a report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $9.50.

TPG RE Finance Trust Price Performance

TRTX opened at $8.58 on Friday. 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 fifty day simple moving average of $9.04 and a 200 day simple moving average of $8.24. The stock has a market cap of $673.91 million, a P/E ratio of 13.19, a P/E/G ratio of 2.29 and a beta of 1.68.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) last posted its earnings results on Monday, June 6th. The company reported $0.27 earnings per share for the quarter. The firm had revenue of $40.06 million for the quarter. TPG RE Finance Trust had a return on equity of 6.61% and a net margin of 21.09%. On average, research analysts expect that TPG RE Finance Trust will post 0.99 EPS for the current year.

TPG RE Finance Trust declared that its board has approved a share buyback program on Thursday, September 4th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of TPG RE Finance Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in TPG RE Finance Trust by 3,783.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,324,357 shares of the company's stock valued at $10,794,000 after purchasing an additional 1,290,256 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of TPG RE Finance Trust by 244.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 980,198 shares of the company's stock valued at $7,567,000 after buying an additional 695,728 shares during the last quarter. Dimension Capital Management LLC boosted its holdings in shares of TPG RE Finance Trust by 390.4% in the 2nd quarter. Dimension Capital Management LLC now owns 459,723 shares of the company's stock valued at $3,549,000 after buying an additional 365,971 shares during the last quarter. Norges Bank bought a new position in shares of TPG RE Finance Trust in the second quarter valued at $2,410,000. Finally, Goldman Sachs Group Inc. increased its holdings in TPG RE Finance Trust by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,930,865 shares of the company's stock worth $32,037,000 after buying an additional 192,126 shares during the last quarter. Institutional investors own 57.12% of the company's stock.

TPG RE Finance Trust Company Profile

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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