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

TPG RE Finance Trust, Inc. (NYSE:TRTX) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders of record on Friday, December 27th will be given a dividend of 0.24 per share on Friday, January 24th. This represents a $0.96 annualized dividend and a dividend yield of 10.85%. The ex-dividend date of this dividend is Friday, December 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 dividend payout ratio of 87.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect TPG RE Finance Trust to earn $1.05 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 91.4%.

TPG RE Finance Trust Stock Down 2.3 %

NYSE:TRTX opened at $8.85 on Wednesday. The company’s 50-day simple moving average is $8.79 and its 200-day simple moving average is $8.73. The company has a debt-to-equity ratio of 2.03, a quick ratio of 152.83 and a current ratio of 152.83. TPG RE Finance Trust has a fifty-two week low of $5.12 and a fifty-two week high of $9.66. The stock has a market capitalization of $715.81 million, a P/E ratio of 12.82, a P/E/G ratio of 0.25 and a beta of 2.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TRTX shares. JMP Securities raised their target price on shares of TPG RE Finance Trust from $9.50 to $10.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised TPG RE Finance Trust from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $9.00 to $9.50 in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.08.

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.