Raymond James Downgrades TPG RE Finance Trust (NYSE:TRTX) to Outperform

Raymond James downgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a strong-buy rating to an outperform rating in a report published on Friday, MarketBeat Ratings reports. Raymond James currently has $8.50 price target on the stock.

Several other research firms have also recently weighed in on TRTX. Wells Fargo & Company increased their target price on shares of TPG RE Finance Trust from $6.00 to $7.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. increased their target price on shares of 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. Finally, Bank of America reiterated an underperform rating and issued a $6.50 target price on shares of TPG RE Finance Trust in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $7.70.

TPG RE Finance Trust Trading Down 1.5 %

Shares of NYSE:TRTX opened at $7.20 on Friday. The company has a market cap of $560.66 million, a P/E ratio of -4.26 and a beta of 2.10. The stock’s 50-day moving average is $7.04 and its 200-day moving average is $6.45. TPG RE Finance Trust has a 52-week low of $4.64 and a 52-week high of $8.12. The company has a debt-to-equity ratio of 2.46, a quick ratio of 158.41 and a current ratio of 158.41.

TPG RE Finance Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.33%. TPG RE Finance Trust’s dividend payout ratio is -56.80%.

Hedge Funds Weigh In On TPG RE Finance Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in TRTX. Price T Rowe Associates Inc. MD lifted its position in TPG RE Finance Trust by 3.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 39,577 shares of the company’s stock worth $357,000 after buying an additional 1,139 shares in the last quarter. FMR LLC lifted its position in TPG RE Finance Trust by 2.8% during the 2nd quarter. FMR LLC now owns 57,346 shares of the company’s stock worth $516,000 after buying an additional 1,543 shares in the last quarter. Rhumbline Advisers lifted its position in TPG RE Finance Trust by 2.3% during the 3rd quarter. Rhumbline Advisers now owns 107,561 shares of the company’s stock worth $724,000 after buying an additional 2,396 shares in the last quarter. American International Group Inc. lifted its position in TPG RE Finance Trust by 8.2% during the 2nd quarter. American International Group Inc. now owns 32,269 shares of the company’s stock worth $291,000 after buying an additional 2,454 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in TPG RE Finance Trust by 16.5% during the 2nd quarter. Legal & General Group Plc now owns 18,822 shares of the company’s stock worth $170,000 after buying an additional 2,671 shares in the last quarter. 57.12% of the stock is owned by 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.