TPG RE Finance Trust (NYSE:TRTX) Sets New 12-Month High - Should You 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%.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on TRTX. Zacks Research upgraded shares of TPG RE Finance Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Wells Fargo & Company raised their target price on shares of TPG RE Finance Trust from $9.00 to $11.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $9.50.

TPG RE Finance Trust Trading Up 0.5%

The firm's 50-day moving average is $8.57 and its 200 day moving average is $8.12. The company has a current ratio of 193.29, a quick ratio of 193.29 and a debt-to-equity ratio of 2.75. The firm has a market capitalization of $736.00 million, a price-to-earnings ratio of 14.41, a P/E/G ratio of 2.51 and a beta of 1.68.

TPG RE Finance Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, July 25th were given a dividend of $0.24 per share. The ex-dividend date was Friday, June 27th. This represents a $0.96 annualized dividend and a yield of 10.3%. TPG RE Finance Trust's dividend payout ratio (DPR) is currently 147.69%.

Institutional Investors Weigh In On TPG RE Finance Trust

Several hedge funds have recently added to or reduced their stakes in TRTX. State Board of Administration of Florida Retirement System lifted its position in shares of TPG RE Finance Trust by 1.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 65,791 shares of the company's stock worth $508,000 after purchasing an additional 1,118 shares during the period. ProShare Advisors LLC lifted its position in shares of TPG RE Finance Trust by 8.9% in the 2nd quarter. ProShare Advisors LLC now owns 14,055 shares of the company's stock worth $109,000 after purchasing an additional 1,144 shares during the period. State of Wyoming lifted its position in shares of TPG RE Finance Trust by 2.9% in the 4th quarter. State of Wyoming now owns 48,955 shares of the company's stock worth $416,000 after purchasing an additional 1,374 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of TPG RE Finance Trust by 24.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,998 shares of the company's stock worth $54,000 after purchasing an additional 1,375 shares during the period. Finally, New Age Alpha Advisors LLC lifted its position in shares of TPG RE Finance Trust by 38.8% in the 1st quarter. New Age Alpha Advisors LLC now owns 7,009 shares of the company's stock worth $57,000 after purchasing an additional 1,959 shares during the period. 57.12% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.