TPG RE Finance Trust (NYSE:TRTX) Upgraded by JPMorgan Chase & Co. to Overweight

JPMorgan Chase & Co. upgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a neutral rating to an overweight rating in a research note released on Thursday, Marketbeat.com reports. They currently have $9.50 price target on the stock, up from their prior price target of $9.00.

Several other research firms have also recently weighed in on TRTX. JMP Securities upped their price objective on shares of TPG RE Finance Trust from $9.50 to $10.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 21st. BTIG Research reissued a “buy” rating and set a $11.00 price objective on shares of TPG RE Finance Trust in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.08.

TPG RE Finance Trust Price Performance

Shares of TPG RE Finance Trust stock opened at $8.74 on Thursday. The stock’s 50-day simple moving average is $8.65 and its 200 day simple moving average is $8.50. TPG RE Finance Trust has a 52-week low of $4.64 and a 52-week high of $9.66. The company has a debt-to-equity ratio of 2.13, a quick ratio of 154.59 and a current ratio of 154.59.

TPG RE Finance Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.98%. TPG RE Finance Trust’s dividend payout ratio (DPR) is presently -259.46%.

Institutional Trading of TPG RE Finance Trust

Several hedge funds have recently modified their holdings of the company. Long Pond Capital LP raised its holdings in shares of TPG RE Finance Trust by 32.4% during the 2nd quarter. Long Pond Capital LP now owns 2,852,894 shares of the company’s stock worth $24,649,000 after acquiring an additional 697,736 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of TPG RE Finance Trust by 30.3% in the second quarter. Millennium Management LLC now owns 1,174,646 shares of the company’s stock valued at $10,149,000 after purchasing an additional 273,086 shares during the period. Algert Global LLC raised its stake in TPG RE Finance Trust by 12.8% in the second quarter. Algert Global LLC now owns 218,846 shares of the company’s stock worth $1,891,000 after buying an additional 24,836 shares in the last quarter. Nokomis Capital L.L.C. bought a new position in TPG RE Finance Trust in the first quarter worth approximately $1,437,000. Finally, Los Angeles Capital Management LLC raised its stake in TPG RE Finance Trust by 14.9% in the second quarter. Los Angeles Capital Management LLC now owns 141,674 shares of the company’s stock worth $1,224,000 after buying an additional 18,337 shares in the last quarter. 57.12% of the stock is 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.