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

TPG RE Finance Trust (NYSE:TRTX) announced its earnings results on Tuesday. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.03), FiscalAI reports. The business had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $37.30 million. TPG RE Finance Trust had a return on equity of 6.91% and a net margin of 19.38%.

TPG RE Finance Trust Trading Down 0.3%

NYSE TRTX traded down $0.03 during trading hours on Tuesday, hitting $8.54. 544,217 shares of the company’s stock were exchanged, compared to its average volume of 695,704. TPG RE Finance Trust has a 12-month low of $7.57 and a 12-month high of $9.85. The business’s 50 day moving average is $8.48 and its 200-day moving average is $8.48. The company has a debt-to-equity ratio of 3.11, a quick ratio of 201.40 and a current ratio of 201.40. The firm has a market capitalization of $659.82 million, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.76 and a beta of 1.40.

TPG RE Finance Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, June 26th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 11.2%. The ex-dividend date was Friday, June 26th. TPG RE Finance Trust’s dividend payout ratio is presently 152.38%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in shares of TPG RE Finance Trust in the 1st quarter worth about $127,000. Goldman Sachs Group Inc. raised its position in shares of TPG RE Finance Trust by 5.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,930,865 shares of the company’s stock valued at $32,037,000 after purchasing an additional 192,126 shares in the last quarter. Strs Ohio acquired a new stake in TPG RE Finance Trust in the first quarter valued at $87,000. Rhumbline Advisers lifted its position in shares of TPG RE Finance Trust by 27.3% during the second quarter. Rhumbline Advisers now owns 115,146 shares of the company’s stock worth $889,000 after purchasing an additional 24,691 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in TPG RE Finance Trust by 11.9% during the 2nd quarter. Hsbc Holdings PLC now owns 40,674 shares of the company’s stock worth $312,000 after buying an additional 4,333 shares during the last quarter. 57.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRTX has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on TPG RE Finance Trust from $9.50 to $10.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Citigroup reaffirmed a “market outperform” rating on shares of TPG RE Finance Trust in a research note on Tuesday, June 9th. Zacks Research upgraded TPG RE Finance Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of TPG RE Finance Trust in a research note on Friday, May 22nd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, TPG RE Finance Trust currently has an average rating of “Moderate Buy” and an average target price of $10.00.

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.