TPG RE Finance Trust (NYSE:TRTX) Stock Rating Lowered by Wall Street Zen

Key Points

• TPG RE Finance Trust's stock rating has been downgraded from "hold" to "sell" by Wall Street Zen, reflecting a shift in analysts' sentiment towards the company.
• The company has initiated a stock repurchase plan authorizing the buyback of $25 million worth of shares, indicating management's belief that the stock may be undervalued.
• Despite recent downgrades, other analysts, including Zacks Research, have raised the stock rating, with a current consensus rating of "Moderate Buy" and an average price target of $9.50.

Wall Street Zen cut shares of TPG RE Finance Trust (NYSE:TRTX - Free Report) from a hold rating to a sell rating in a report issued on Saturday.

Several other brokerages also recently commented on TRTX. Citizens Jmp downgraded shares of TPG RE Finance Trust from an "outperform" rating to a "market perform" rating in a research report on Wednesday, September 17th. Zacks Research upgraded shares of TPG RE Finance Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Wells Fargo & Company upped their price objective on shares of 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. Citigroup lowered shares of TPG RE Finance Trust to a "market perform" rating in a research note on Wednesday, September 17th. Finally, JMP Securities restated a "market perform" rating on shares of TPG RE Finance Trust in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.50.

TPG RE Finance Trust Trading Up 0.5%

Shares of NYSE:TRTX traded up $0.05 during mid-day trading on Friday, hitting $9.12. The stock had a trading volume of 74,177 shares, compared to its average volume of 670,824. The company has a debt-to-equity ratio of 2.75, a quick ratio of 193.29 and a current ratio of 193.29. The company has a market cap of $716.35 million, a PE ratio of 14.04, a P/E/G ratio of 2.48 and a beta of 1.68. TPG RE Finance Trust has a 12-month low of $6.47 and a 12-month high of $9.85. The company's 50 day moving average is $8.97 and its 200-day moving average is $8.21.

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

TPG RE Finance Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, September 26th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a yield of 10.5%. TPG RE Finance Trust's dividend payout ratio is 147.69%.

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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of TPG RE Finance Trust by 3,783.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,324,357 shares of the company's stock worth $10,794,000 after acquiring an additional 1,290,256 shares during the period. Wellington Management Group LLP bought a new position in shares of TPG RE Finance Trust during the 4th quarter worth about $5,983,000. Balyasny Asset Management L.P. lifted 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 worth $7,567,000 after acquiring an additional 695,728 shares during the period. Dimension Capital Management LLC lifted its holdings in TPG RE Finance Trust by 390.4% during the 2nd quarter. Dimension Capital Management LLC now owns 459,723 shares of the company's stock valued at $3,549,000 after purchasing an additional 365,971 shares during the last quarter. Finally, Norges Bank bought a new position in TPG RE Finance Trust during the 2nd quarter valued at about $2,410,000. 57.12% of the stock is owned by institutional investors.

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.