TPG RE Finance Trust (NYSE:TRTX) Price Target Cut to $10.50 by Analysts at JPMorgan Chase & Co.

TPG RE Finance Trust (NYSE:TRTX) had its price target cut by JPMorgan Chase & Co. from $11.00 to $10.50 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

TRTX has been the subject of several other research reports. Zacks Research lowered shares of TPG RE Finance Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Weiss Ratings lowered shares of TPG RE Finance Trust from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Finally, Wells Fargo & Company decreased their price target on shares of TPG RE Finance Trust from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TPG RE Finance Trust has an average rating of “Hold” and a consensus target price of $10.25.

TPG RE Finance Trust Trading Down 0.2%

TRTX opened at $8.43 on Thursday. TPG RE Finance Trust has a 52 week low of $6.47 and a 52 week high of $9.85. The company has a quick ratio of 166.64, a current ratio of 183.34 and a debt-to-equity ratio of 3.02. The business has a fifty day simple moving average of $8.98 and a 200-day simple moving average of $8.98. The firm has a market cap of $660.49 million, a P/E ratio of 15.05, a P/E/G ratio of 1.62 and a beta of 1.53.

TPG RE Finance Trust (NYSE:TRTX) last posted its earnings results on Tuesday, February 17th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). TPG RE Finance Trust had a return on equity of 6.84% and a net margin of 18.14%.The firm had revenue of $35.04 million for the quarter, compared to analyst estimates of $27.15 million. On average, equities analysts expect that TPG RE Finance Trust will post 0.99 earnings per share for the current year.

TPG RE Finance Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Friday, December 26th were paid a $0.24 dividend. The ex-dividend date was Friday, December 26th. This represents a $0.96 dividend on an annualized basis and a yield of 11.4%. TPG RE Finance Trust’s payout ratio is currently 171.43%.

Institutional Investors Weigh In On TPG RE Finance Trust

A number of large investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund A purchased a new position in TPG RE Finance Trust in the third quarter valued at approximately $26,957,000. Geode Capital Management LLC boosted its holdings in shares of TPG RE Finance Trust by 7.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,639,667 shares of the company’s stock valued at $12,660,000 after buying an additional 115,707 shares in the last quarter. Condor Capital Management grew its position in shares of TPG RE Finance Trust by 33.7% in the 2nd quarter. Condor Capital Management now owns 620,539 shares of the company’s stock valued at $4,791,000 after buying an additional 156,309 shares during the last quarter. Dimension Capital Management LLC grew its position in shares of TPG RE Finance Trust by 390.4% in the 2nd quarter. Dimension Capital Management LLC now owns 459,723 shares of the company’s stock valued at $3,549,000 after buying an additional 365,971 shares during the last quarter. Finally, Norges Bank acquired a new stake in TPG RE Finance Trust during the 2nd quarter worth $2,410,000. 57.12% of the stock is owned by hedge funds and other institutional investors.

About TPG RE Finance Trust

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.