TPG RE Finance Trust Inc (TRTX) Receives Average Rating of “Buy” from Brokerages
Shares of TPG RE Finance Trust Inc (NASDAQ:TRTX) have received an average recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $21.33.
A number of research firms have weighed in on TRTX. Zacks Investment Research downgraded TPG RE Finance Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Citigroup Inc. reiterated a “neutral” rating and set a $22.00 target price on shares of TPG RE Finance Trust in a report on Tuesday, October 17th. Bank of America Corporation began coverage on TPG RE Finance Trust in a report on Monday, August 14th. They set a “buy” rating and a $21.00 target price on the stock. J P Morgan Chase & Co began coverage on TPG RE Finance Trust in a report on Monday, August 14th. They set a “neutral” rating and a $20.50 target price on the stock. Finally, JMP Securities began coverage on TPG RE Finance Trust in a report on Friday, August 18th. They set an “outperform” rating and a $21.50 target price on the stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. HGI Capital Management LLC bought a new stake in shares of TPG RE Finance Trust in the 3rd quarter worth approximately $459,000. Bank of New York Mellon Corp bought a new stake in shares of TPG RE Finance Trust in the 3rd quarter worth approximately $652,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of TPG RE Finance Trust in the 3rd quarter worth approximately $791,000.
TPG RE Finance Trust (NASDAQ TRTX) opened at $19.27 on Friday. TPG RE Finance Trust has a twelve month low of $18.71 and a twelve month high of $20.70.
TPG RE Finance Trust (NASDAQ:TRTX) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. TPG RE Finance Trust had a return on equity of 10.27% and a net margin of 48.73%. The company had revenue of $27.58 million for the quarter, compared to the consensus estimate of $26.00 million. During the same quarter in the previous year, the business earned $0.43 EPS. TPG RE Finance Trust’s revenue was up 17.5% compared to the same quarter last year.
The business also recently declared an annual dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th were given a $0.33 dividend. The ex-dividend date was Thursday, October 5th.
About TPG RE Finance Trust
TPG RE Finance Trust, Inc is a commercial real estate finance company. The Company is engaged in originating, acquiring and managing commercial mortgage loans and other commercial real estate-related debt instruments. It focuses primarily on directly originating and selectively acquiring floating rate first mortgage loans that are secured by high quality commercial real estate properties undergoing some form of transition and value creation, such as re-tenanting, refurbishment or other form of repositioning.
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