TPG RE Finance Trust (NYSE:TRTX) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

TPG RE Finance Trust (NYSE:TRTX) posted its earnings results on Tuesday. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.03), FiscalAI reports. The business had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $37.57 million. TPG RE Finance Trust had a return on equity of 6.81% and a net margin of 17.03%.

TPG RE Finance Trust Price Performance

NYSE TRTX traded down $0.03 during trading hours on Thursday, reaching $8.19. 261,233 shares of the stock traded hands, compared to its average volume of 699,870. The company has a debt-to-equity ratio of 3.11, a current ratio of 201.40 and a quick ratio of 201.40. The stock has a 50 day simple moving average of $8.48 and a two-hundred day simple moving average of $8.47. TPG RE Finance Trust has a 1 year low of $7.57 and a 1 year high of $9.85. The company has a market cap of $632.78 million, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.74 and a beta of 1.40.

TPG RE Finance Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, June 26th were given a dividend of $0.24 per share. The ex-dividend date was Friday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 11.7%. TPG RE Finance Trust’s dividend payout ratio (DPR) is presently 152.38%.

Hedge Funds Weigh In On TPG RE Finance Trust

Institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new stake in TPG RE Finance Trust in the fourth quarter worth approximately $30,000. Kemnay Advisory Services Inc. purchased a new position in shares of TPG RE Finance Trust during the fourth quarter worth approximately $30,000. BNP Paribas Financial Markets lifted its holdings in shares of TPG RE Finance Trust by 86.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,494 shares of the company’s stock worth $50,000 after acquiring an additional 3,013 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of TPG RE Finance Trust by 2,454.1% in 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 last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of TPG RE Finance Trust by 249.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,818 shares of the company’s stock valued at $53,000 after purchasing an additional 4,865 shares in the last quarter. 57.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on TRTX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TPG RE Finance Trust in a report on Friday, May 22nd. Zacks Research raised TPG RE Finance Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. upped their price objective on shares of 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. Finally, Citigroup reaffirmed a “market outperform” rating on shares of TPG RE Finance Trust in a research note on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TPG RE Finance Trust currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

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.