TPG RE Finance Trust (NYSE:TRTX) Reaches New 52-Week High - Time to Buy?

Key Points

• TPG RE Finance Trust, Inc. shares have reached a new 52-week high of $9.40, showing a positive trading volume of 55,388 shares on the recent trading day.
• Several brokerages have upgraded the stock's rating, with Zacks Research moving it to a strong-buy and Wells Fargo raising its target price to $11.00, indicating positive market sentiment.
• The company announced a quarterly dividend of $0.24 per share, representing an annualized yield of 10.3%, although its dividend payout ratio is high at 147.69%.

TPG RE Finance Trust, Inc. (NYSE:TRTX - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $9.40 and last traded at $9.39, with a volume of 55388 shares trading hands. The stock had previously closed at $9.32.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen raised TPG RE Finance Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Zacks Research raised TPG RE Finance Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, Wells Fargo & Company raised their price objective on TPG RE Finance Trust from $9.00 to $11.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $9.50.

TPG RE Finance Trust Stock Up 0.4%

The stock has a 50 day moving average price of $8.67 and a 200 day moving average price of $8.14. The stock has a market capitalization of $763.50 million, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 2.60 and a beta of 1.68. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, July 25th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend was Friday, June 27th. TPG RE Finance Trust's payout ratio is currently 147.69%.

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

Hedge Funds Weigh In On TPG RE Finance Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in TRTX. Price T Rowe Associates Inc. MD lifted its stake in shares of TPG RE Finance Trust by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 78,716 shares of the company's stock worth $670,000 after acquiring an additional 4,007 shares during the period. Northern Trust Corp lifted its stake in shares of TPG RE Finance Trust by 15.5% in the fourth quarter. Northern Trust Corp now owns 629,451 shares of the company's stock worth $5,350,000 after acquiring an additional 84,652 shares during the period. Bank of America Corp DE lifted its stake in shares of TPG RE Finance Trust by 49.2% in the fourth quarter. Bank of America Corp DE now owns 426,174 shares of the company's stock worth $3,622,000 after acquiring an additional 140,507 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of TPG RE Finance Trust by 48.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 389,905 shares of the company's stock worth $3,314,000 after acquiring an additional 126,482 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of TPG RE Finance Trust by 114.6% in the fourth quarter. Deutsche Bank AG now owns 130,903 shares of the company's stock worth $1,113,000 after acquiring an additional 69,895 shares during the period. 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.