Zacks Research Downgrades TPG RE Finance Trust (NYSE:TRTX) to Hold

TPG RE Finance Trust (NYSE:TRTX) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also commented on the company. Wall Street Zen raised TPG RE Finance Trust from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Citizens Jmp downgraded TPG RE Finance Trust from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 17th. Weiss Ratings restated a “buy (b-)” rating on shares of TPG RE Finance Trust in a report on Monday. JMP Securities reaffirmed a “market perform” rating on shares of TPG RE Finance Trust in a research report on Wednesday, September 17th. Finally, Citigroup cut shares of TPG RE Finance Trust to a “market perform” rating in a research report on Wednesday, September 17th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, TPG RE Finance Trust has an average rating of “Hold” and a consensus target price of $10.75.

TPG RE Finance Trust Stock Performance

TPG RE Finance Trust stock opened at $8.65 on Monday. The company has a debt-to-equity ratio of 2.61, a current ratio of 166.64 and a quick ratio of 166.64. TPG RE Finance Trust has a 12 month low of $6.47 and a 12 month high of $9.85. The company has a market cap of $676.96 million, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 2.05 and a beta of 1.54. The stock’s 50-day moving average is $8.96 and its 200-day moving average is $8.78.

TPG RE Finance Trust (NYSE:TRTX) last released its quarterly earnings data on Monday, June 6th. The company reported $0.27 earnings per share (EPS) for the quarter. TPG RE Finance Trust had a net margin of 20.46% and a return on equity of 6.37%. The company had revenue of $40.06 million during the quarter. Equities analysts anticipate that TPG RE Finance Trust will post 0.99 earnings per share for the current year.

TPG RE Finance Trust declared that its board has approved a share repurchase program on Thursday, September 4th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On TPG RE Finance Trust

Several large investors have recently added to or reduced their stakes in TRTX. State of New Jersey Common Pension Fund A bought a new stake in TPG RE Finance Trust during the third quarter valued at $26,957,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of TPG RE Finance Trust by 3,783.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,324,357 shares of the company’s stock valued at $10,794,000 after buying an additional 1,290,256 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in TPG RE Finance Trust by 244.6% during the second quarter. Balyasny Asset Management L.P. now owns 980,198 shares of the company’s stock worth $7,567,000 after acquiring an additional 695,728 shares during the period. Dimension Capital Management LLC lifted its holdings in TPG RE Finance Trust by 390.4% in the second quarter. Dimension Capital Management LLC now owns 459,723 shares of the company’s stock worth $3,549,000 after acquiring an additional 365,971 shares during the last quarter. Finally, Norges Bank acquired a new position in TPG RE Finance Trust in the second quarter valued at approximately $2,410,000. 57.12% of the stock is currently owned by 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.