Wall Street Zen Downgrades TPG RE Finance Trust (NYSE:TRTX) to Sell

Key Points

• Wall Street Zen downgraded TPG RE Finance Trust (NYSE:TRTX) from “hold” to “sell,” despite the broader analyst consensus remaining “Moderate Buy” with an average price target of $10.00.
• TRTX shares opened at $7.98, down 2.5%, and remain below their 50-day and 200-day moving averages. The stock has traded between $7.57 and $9.85 over the past year.
• The company’s latest quarterly results fell short of expectations, reporting adjusted earnings of $0.23 per share versus the $0.26 consensus estimate and revenue of $34.01 million versus expectations of $37.30 million.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

TRTX has been the subject of a number of other reports. JPMorgan Chase & Co. raised their target price on TPG RE Finance Trust from $9.50 to $10.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of TPG RE Finance Trust in a research note on Friday, May 22nd. Citigroup reissued a "market outperform" rating on shares of TPG RE Finance Trust in a report on Tuesday, June 9th. Finally, Zacks Research raised shares of TPG RE Finance Trust from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.00.

TPG RE Finance Trust Trading Down 2.5%

Shares of TRTX stock opened at $7.98 on Friday. The company has a 50 day moving average of $8.48 and a 200-day moving average of $8.46. The company has a quick ratio of 201.40, a current ratio of 200.26 and a debt-to-equity ratio of 3.30. TPG RE Finance Trust has a 12-month low of $7.57 and a 12-month high of $9.85. The firm has a market cap of $612.32 million, a P/E ratio of 14.77, a PEG ratio of 1.67 and a beta of 1.40.

TPG RE Finance Trust (NYSE:TRTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.03). TPG RE Finance Trust had a net margin of 17.03% and a return on equity of 6.85%. The firm had revenue of $34.01 million during the quarter, compared to analysts' expectations of $37.30 million. Sell-side analysts anticipate that TPG RE Finance Trust will post 0.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. purchased a new stake in shares of TPG RE Finance Trust in the fourth quarter worth about $30,000. Kestra Advisory Services LLC purchased a new position in TPG RE Finance Trust during the fourth quarter valued at approximately $30,000. BNP Paribas Financial Markets grew its stake in TPG RE Finance Trust by 86.6% during the second quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company's stock valued at $50,000 after acquiring an additional 3,013 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in TPG RE Finance Trust by 2,454.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 5,951 shares of the company's stock worth $51,000 after acquiring an additional 5,718 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in TPG RE Finance Trust by 249.1% during 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 during the period. Hedge funds and other institutional investors own 57.12% of the company's stock.

TPG RE Finance Trust Company Profile

TPG RE Finance Trust, Inc NYSE: TRTX is a growth-oriented real estate finance company that originates and invests in a diversified portfolio of commercial real estate debt. The company’s primary business activities include the origination and acquisition of senior mortgage loans, mezzanine loans and preferred equity investments. These investments predominantly finance multifamily, office, industrial, retail and hospitality properties across the United States.

TPG RE Finance Trust pursues a flexible capital strategy, structuring transactions that range from first-lien floating-rate loans to subordinated debt and preferred equity.

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