TPG RE Finance Trust (NYSE:TRTX) Receives Market Perform Rating from JMP Securities

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 research analysts at JMP Securities in a report issued on Wednesday,Benzinga reports.

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

TPG RE Finance Trust Trading Down 1.1%

Shares of NYSE:TRTX traded down $0.11 during trading on Wednesday, reaching $9.24. 2,167,484 shares of the stock were exchanged, compared to its average volume of 663,348. The company has a debt-to-equity ratio of 2.75, a quick ratio of 193.29 and a current ratio of 193.29. TPG RE Finance Trust has a 12-month low of $6.47 and a 12-month high of $9.85. The firm has a market cap of $725.78 million, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 2.48 and a beta of 1.68. The firm's 50-day moving average price is $8.96 and its 200 day moving average price is $8.21.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TRTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in TPG RE Finance Trust by 3,783.6% during 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 buying an additional 1,290,256 shares during the period. Wellington Management Group LLP acquired a new position in shares of TPG RE Finance Trust during the 4th quarter valued at about $5,983,000. Balyasny Asset Management L.P. increased its holdings in shares of TPG RE Finance Trust by 244.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 980,198 shares of the company's stock valued at $7,567,000 after acquiring an additional 695,728 shares during the last quarter. Dimension Capital Management LLC grew its holdings in 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. Finally, Norges Bank bought a new stake in shares of TPG RE Finance Trust in the 2nd quarter worth approximately $2,410,000. 57.12% of the stock is owned by institutional investors and hedge funds.

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.