JPMorgan Chase & Co. Cuts TPG RE Finance Trust (NYSE:TRTX) Price Target to $9.50
by Teresa Graham · The Cerbat GemTPG RE Finance Trust (NYSE:TRTX – Free Report) had its target price lowered by JPMorgan Chase & Co. from $10.50 to $9.50 in a report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
A number of other research firms also recently issued reports on TRTX. Citizens Jmp upgraded shares of TPG RE Finance Trust from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research note on Thursday, March 12th. Wells Fargo & Company dropped their price objective on shares of TPG RE Finance Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Citigroup upgraded shares of TPG RE Finance Trust from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 12th. Zacks Research downgraded shares of TPG RE Finance Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, Weiss Ratings downgraded shares of TPG RE Finance Trust from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.
View Our Latest Stock Report on TPG RE Finance Trust
TPG RE Finance Trust Price Performance
NYSE TRTX opened at $8.36 on Thursday. The company has a debt-to-equity ratio of 3.02, a quick ratio of 183.34 and a current ratio of 183.34. The firm’s 50 day moving average price is $8.24 and its 200-day moving average price is $8.69. TPG RE Finance Trust has a 52-week low of $6.97 and a 52-week high of $9.85. The company has a market cap of $647.68 million, a PE ratio of 14.92, a P/E/G ratio of 1.44 and a beta of 1.50.
TPG RE Finance Trust (NYSE:TRTX – Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). TPG RE Finance Trust had a net margin of 18.14% and a return on equity of 6.84%. The business had revenue of $35.04 million for the quarter, compared to the consensus estimate of $27.15 million. Sell-side analysts forecast that TPG RE Finance Trust will post 0.99 EPS for the current fiscal year.
TPG RE Finance Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, March 27th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 11.5%. The ex-dividend date is Friday, March 27th. TPG RE Finance Trust’s dividend payout ratio (DPR) is 171.43%.
Institutional Investors Weigh In On TPG RE Finance Trust
Several institutional investors have recently bought and sold shares of TRTX. Kemnay Advisory Services Inc. acquired a new stake in TPG RE Finance Trust in the fourth quarter valued at approximately $30,000. Kestra Advisory Services LLC purchased a new position in shares of TPG RE Finance Trust in the fourth quarter worth $30,000. BNP Paribas Financial Markets raised its holdings in shares of TPG RE Finance Trust by 86.6% in the second quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company’s stock worth $50,000 after buying an additional 3,013 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of TPG RE Finance Trust by 2,454.1% in the third quarter. Russell Investments Group Ltd. now owns 5,951 shares of the company’s stock worth $51,000 after buying an additional 5,718 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of TPG RE Finance Trust by 249.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,818 shares of the company’s stock worth $53,000 after buying an additional 4,865 shares during the last quarter. 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 (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.