TPG RE Finance Trust (NYSE:TRTX) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a sell rating to a hold rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “TPG RE Finance Trust, Inc. is a commercial real estate finance company. It focuses primarily on directly originating, acquiring and managing commercial mortgage loans and other commercial real estate-related debt instruments. TPG RE Finance Trust, Inc. is headquartered in SAN FRANCISCO, United States. “

Shares of TRTX opened at $19.51 on Friday. The firm has a market capitalization of $1.43 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 2.27 and a beta of 0.33. TPG RE Finance Trust has a 1-year low of $17.81 and a 1-year high of $20.82. The stock’s fifty day moving average price is $19.60. The company has a debt-to-equity ratio of 2.86, a quick ratio of 41.04 and a current ratio of 41.04.

TPG RE Finance Trust (NYSE:TRTX) last issued its earnings results on Monday, July 29th. The company reported $0.43 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.43. The business had revenue of $42.24 million for the quarter, compared to the consensus estimate of $41.19 million. TPG RE Finance Trust had a net margin of 37.63% and a return on equity of 8.38%. During the same period in the previous year, the company earned $0.44 earnings per share. On average, analysts predict that TPG RE Finance Trust will post 1.74 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Friday, June 28th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, June 27th. This represents a $1.72 dividend on an annualized basis and a yield of 8.82%. TPG RE Finance Trust’s payout ratio is 101.18%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. boosted its position in TPG RE Finance Trust by 2.6% during the second quarter. Bessemer Group Inc. now owns 102,200 shares of the company’s stock worth $1,971,000 after purchasing an additional 2,600 shares during the period. Millennium Management LLC boosted its position in TPG RE Finance Trust by 137.7% during the fourth quarter. Millennium Management LLC now owns 250,632 shares of the company’s stock worth $4,582,000 after purchasing an additional 145,195 shares during the period. Timbercreek Investment Management Inc. boosted its position in TPG RE Finance Trust by 9.4% during the first quarter. Timbercreek Investment Management Inc. now owns 531,866 shares of the company’s stock worth $10,425,000 after purchasing an additional 45,700 shares during the period. APG Asset Management N.V. boosted its position in TPG RE Finance Trust by 314.2% during the fourth quarter. APG Asset Management N.V. now owns 192,200 shares of the company’s stock worth $3,073,000 after purchasing an additional 145,800 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in TPG RE Finance Trust by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 168,401 shares of the company’s stock worth $3,079,000 after purchasing an additional 8,773 shares during the period. Institutional investors and hedge funds own 59.36% of the company’s stock.

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 North America. It invests in commercial mortgage loans; and subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments secured by properties primarily in the office, mixed use, multifamily, industrial, retail, and hospitality real estate sectors.

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