TPG RE Finance Trust (NYSE:TRTX) Shares Gap Down to $8.60

TPG RE Finance Trust, Inc. (NYSE:TRTX)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.60, but opened at $8.35. TPG RE Finance Trust shares last traded at $8.43, with a volume of 35,492 shares trading hands.

Wall Street Analysts Forecast Growth

TRTX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective 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 lowered TPG RE Finance Trust from a “strong-buy” rating to an “outperform” rating and set a $8.50 target price for the company. in a report on Friday, April 12th. Bank of America reissued an “underperform” rating and issued a $6.50 target price on shares of TPG RE Finance Trust in a report on Monday, March 4th. Finally, Wells Fargo & Company lifted their target price on TPG RE Finance Trust from $7.00 to $9.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.10.

TPG RE Finance Trust Price Performance

The company has a quick ratio of 138.05, a current ratio of 138.05 and a debt-to-equity ratio of 2.25. The company has a fifty day moving average of $8.42 and a 200 day moving average of $7.36.

TPG RE Finance Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, June 27th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 11.11%. The ex-dividend date is Thursday, June 27th. TPG RE Finance Trust’s payout ratio is currently -61.15%.

Insider Buying and Selling

In related news, major shareholder Starwood Capital Group Global sold 9,352,941 shares of TPG RE Finance Trust stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $8.84, for a total value of $82,679,998.44. Following the completion of the sale, the insider now owns 2,647,059 shares of the company’s stock, valued at $23,400,001.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TPG RE Finance Trust

Several institutional investors and hedge funds have recently bought and sold shares of TRTX. Swiss National Bank lifted its position in TPG RE Finance Trust by 9.2% during the third quarter. Swiss National Bank now owns 127,600 shares of the company’s stock valued at $859,000 after purchasing an additional 10,700 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in TPG RE Finance Trust by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,122,112 shares of the company’s stock valued at $7,552,000 after purchasing an additional 101,873 shares in the last quarter. Hsbc Holdings PLC lifted its position in TPG RE Finance Trust by 48.0% during the third quarter. Hsbc Holdings PLC now owns 42,399 shares of the company’s stock valued at $284,000 after purchasing an additional 13,745 shares in the last quarter. Caxton Associates LP purchased a new position in TPG RE Finance Trust during the third quarter valued at $111,000. Finally, Penserra Capital Management LLC lifted its position in TPG RE Finance Trust by 14.4% during the third quarter. Penserra Capital Management LLC now owns 77,743 shares of the company’s stock valued at $523,000 after purchasing an additional 9,805 shares in the last quarter. 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, 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.