TPG RE Finance Trust, Inc.’s (TRTX) Lock-Up Period Set To End Tomorrow
TPG RE Finance Trust’s (NYSE:TRTX) lock-up period is set to expire on Tuesday, January 16th. TPG RE Finance Trust had issued 11,000,000 shares in its IPO on July 20th. The total size of the offering was $220,000,000 based on an initial share price of $20.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
TRTX has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of TPG RE Finance Trust from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Citigroup reiterated a “neutral” rating and set a $22.00 price target on shares of TPG RE Finance Trust in a research report on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.33.
TPG RE Finance Trust (NYSE:TRTX) opened at $18.87 on Monday. TPG RE Finance Trust has a 52-week low of $18.61 and a 52-week high of $20.70. The company has a debt-to-equity ratio of 1.27, a quick ratio of 10.75 and a current ratio of 10.75.
TPG RE Finance Trust (NYSE:TRTX) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $27.58 million for the quarter, compared to analysts’ expectations of $26.00 million. During the same quarter in the prior year, the firm earned $0.43 EPS. TPG RE Finance Trust’s quarterly revenue was up 17.5% compared to the same quarter last year. equities analysts expect that TPG RE Finance Trust will post 1.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Friday, December 29th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.06%. The ex-dividend date of this dividend is Thursday, December 28th.
In related news, CEO Greta Guggenheim purchased 10,000 shares of TPG RE Finance Trust stock in a transaction that occurred on Friday, December 1st. The shares were bought at an average price of $19.19 per share, for a total transaction of $191,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
A number of institutional investors and hedge funds have recently made changes to their positions in TRTX. Alyeska Investment Group L.P. purchased a new stake in TPG RE Finance Trust in the third quarter worth about $22,073,000. NWQ Investment Management Company LLC purchased a new stake in TPG RE Finance Trust in the third quarter worth about $12,920,000. Blackstone Group L.P. purchased a new stake in TPG RE Finance Trust in the third quarter worth about $9,507,000. Magnetar Financial LLC purchased a new stake in TPG RE Finance Trust in the third quarter worth about $3,954,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in TPG RE Finance Trust in the third quarter worth about $791,000. Institutional investors and hedge funds own 26.37% of the company’s stock.
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TPG RE Finance Trust Company Profile
TPG RE Finance Trust, Inc is a commercial real estate finance company. The Company is engaged in originating, acquiring and managing commercial mortgage loans and other commercial real estate-related debt instruments. It focuses primarily on directly originating and selectively acquiring floating rate first mortgage loans that are secured by high quality commercial real estate properties undergoing some form of transition and value creation, such as re-tenanting, refurbishment or other form of repositioning.
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