TPG RE Finance Trust (NYSE:TRTX) Upgraded to Market Outperform at Citizens Jmp

TPG RE Finance Trust (NYSE:TRTX) was upgraded by equities researchers at Citizens Jmp from a “market perform” rating to a “market outperform” rating in a research report issued on Thursday, MarketBeat.com reports. The brokerage presently has a $10.00 price objective on the stock. Citizens Jmp’s target price indicates a potential upside of 22.62% from the company’s current price.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price target on TPG RE Finance Trust from $11.00 to $10.50 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Wells Fargo & Company cut their price objective on TPG RE Finance Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Zacks Research cut TPG RE Finance Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Citigroup upgraded TPG RE Finance Trust from a “market perform” rating to an “outperform” rating in a report on Thursday. Finally, Weiss Ratings lowered TPG RE Finance Trust from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.17.

TPG RE Finance Trust Stock Down 1.9%

Shares of NYSE:TRTX opened at $8.16 on Thursday. TPG RE Finance Trust has a 12-month low of $6.47 and a 12-month high of $9.85. The company has a current ratio of 183.34, a quick ratio of 183.34 and a debt-to-equity ratio of 3.02. The stock’s 50-day moving average price is $8.82 and its 200-day moving average price is $8.93. The stock has a market capitalization of $638.98 million, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.44 and a beta of 1.53.

TPG RE Finance Trust (NYSE:TRTX) last posted its quarterly 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). The company had revenue of $35.04 million for the quarter, compared to the consensus estimate of $27.15 million. TPG RE Finance Trust had a return on equity of 6.84% and a net margin of 18.14%. On average, equities analysts anticipate that TPG RE Finance Trust will post 0.99 earnings per share for the current year.

Hedge Funds Weigh In On TPG RE Finance Trust

A number of hedge funds have recently added to or reduced their stakes in the company. VARCOV Co. purchased a new position in shares of TPG RE Finance Trust during the fourth quarter valued at approximately $448,000. Wellington Management Group LLP boosted its holdings in TPG RE Finance Trust by 1.4% in the fourth quarter. Wellington Management Group LLP now owns 730,452 shares of the company’s stock worth $6,289,000 after purchasing an additional 10,338 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in TPG RE Finance Trust by 152.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 94,236 shares of the company’s stock worth $811,000 after purchasing an additional 56,937 shares during the last quarter. Millennium Management LLC grew its position in TPG RE Finance Trust by 2,595.3% in the 4th quarter. Millennium Management LLC now owns 358,749 shares of the company’s stock worth $3,089,000 after purchasing an additional 345,439 shares during the period. Finally, Engineers Gate Manager LP grew its position in TPG RE Finance Trust by 319.2% in the 4th quarter. Engineers Gate Manager LP now owns 91,025 shares of the company’s stock worth $784,000 after purchasing an additional 69,312 shares during the period. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

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.