JMP Securities Reiterates "Market Perform" Rating for TPG RE Finance Trust (NYSE:TRTX)

Key Points

• TPG RE Finance Trust's stock received a "market perform" rating from JMP Securities, reflecting a shift in analyst sentiment with several brokerages adjusting their ratings recently.
• The company announced a $25 million stock buyback program, indicating that management believes its shares are undervalued.
• TPG RE Finance Trust shares experienced a 0.6% decline, reaching a value of $9.22, amidst notable trading activity on Wednesday.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report)'s stock had its "market perform" rating reiterated by stock analysts at JMP Securities in a research note issued to investors on Wednesday,Benzinga reports.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of TPG RE Finance Trust from $9.00 to $11.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Zacks Research raised shares of TPG RE Finance Trust from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Wall Street Zen raised shares of TPG RE Finance Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Citizens Jmp downgraded shares of TPG RE Finance Trust from an "outperform" rating to a "market perform" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.50.

TPG RE Finance Trust Stock Up 1.1%

Shares of TPG RE Finance Trust stock traded up $0.10 on Wednesday, reaching $9.35. The stock had a trading volume of 551,236 shares, compared to its average volume of 677,908. The company has a 50 day moving average price of $8.93 and a 200 day moving average price of $8.20. 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 1 year low of $6.47 and a 1 year high of $9.85. The stock has a market capitalization of $734.82 million, a P/E ratio of 14.38, a P/E/G ratio of 2.49 and a beta of 1.68.

TPG RE Finance Trust announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 4th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Institutional Trading of TPG RE Finance Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co lifted its stake in shares of TPG RE Finance Trust by 395.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 14,383 shares of the company's stock valued at $111,000 after purchasing an additional 11,481 shares during the period. Tower Research Capital LLC TRC increased its holdings 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 worth $53,000 after acquiring an additional 4,865 shares in the last quarter. Vident Advisory LLC raised its position in shares of TPG RE Finance Trust by 77.2% in the second quarter. Vident Advisory LLC now owns 25,633 shares of the company's stock valued at $198,000 after buying an additional 11,166 shares during the last quarter. Modern Wealth Management LLC acquired a new stake in shares of TPG RE Finance Trust in the second quarter valued at about $161,000. Finally, BNP Paribas Financial Markets raised its position in shares of TPG RE Finance Trust by 86.6% in the second quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company's stock valued at $50,000 after buying an additional 3,013 shares during the last quarter. 57.12% of the stock is currently owned by institutional investors and hedge funds.

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.