TPG RE Finance Trust, Inc. Declares Quarterly Dividend of $0.24 (NYSE:TRTX)

TPG RE Finance Trust, Inc. (NYSE:TRTX) declared a quarterly dividend on Monday, June 17th, Zacks reports. Stockholders of record on Thursday, June 27th will be given a dividend of 0.24 per share on Thursday, July 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 11.33%. The ex-dividend date is Thursday, June 27th.

TPG RE Finance Trust has decreased its dividend by an average of 13.0% per year over the last three years. TPG RE Finance Trust has a payout ratio of 88.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect TPG RE Finance Trust to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 97.0%.

TPG RE Finance Trust Stock Up 2.0 %

TRTX opened at $8.47 on Tuesday. The business has a 50 day moving average price of $8.20 and a 200 day moving average price of $7.22. The company has a debt-to-equity ratio of 2.25, a quick ratio of 138.05 and a current ratio of 138.05. TPG RE Finance Trust has a twelve month low of $4.64 and a twelve month high of $8.96.

Analyst Ratings Changes

Several brokerages recently weighed in on TRTX. JPMorgan Chase & Co. increased their target price on TPG RE Finance Trust from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Raymond James cut TPG RE Finance Trust from a “strong-buy” rating to an “outperform” rating and set a $8.50 price objective for the company. in a research report on Friday, April 12th. Wells Fargo & Company boosted their target price on shares of TPG RE Finance Trust from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Finally, Bank of America restated an “underperform” rating and issued a $6.50 price target on shares of TPG RE Finance Trust in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.10.

Insider Activity

In other TPG RE Finance Trust news, major shareholder Starwood Capital Group Global sold 9,352,941 shares of TPG RE Finance Trust stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $8.84, for a total transaction of $82,679,998.44. Following the sale, the insider now directly owns 2,647,059 shares of the company’s stock, valued at $23,400,001.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.

About TPG RE Finance Trust

TPG RE Finance Trust, Inc, a commercial real estate finance company, originates, acquires, and manages commercial mortgage loans and other commercial real estate-related debt instruments in the United States. It invests in commercial mortgage loans; subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments; and commercial real estate collateralized loan obligations and commercial mortgage-backed securities secured by properties primarily in the multifamily, life science, mixed-use, hospitality, self storage, industrial, and retail real estate sectors.