TPG RE Finance Trust (NYSE:TRTX) Downgraded by Zacks Research to Hold

TPG RE Finance Trust (NYSE:TRTX) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on TRTX. Citigroup downgraded TPG RE Finance Trust to a “market perform” rating in a research report on Wednesday, September 17th. Citizens Jmp lowered TPG RE Finance Trust from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TPG RE Finance Trust in a report on Monday. JPMorgan Chase & Co. upped their price target on shares of TPG RE Finance Trust from $10.00 to $10.50 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, JMP Securities restated a “market perform” rating on shares of TPG RE Finance Trust in a research report on Wednesday, September 17th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.75.

TPG RE Finance Trust Stock Performance

Shares of TRTX stock opened at $8.65 on Monday. TPG RE Finance Trust has a 12-month low of $6.47 and a 12-month high of $9.85. The firm has a market capitalization of $676.96 million, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 2.05 and a beta of 1.54. The business has a 50 day simple moving average of $8.96 and a 200 day simple moving average of $8.78. The company has a debt-to-equity ratio of 2.61, a current ratio of 166.64 and a quick ratio of 166.64.

TPG RE Finance Trust (NYSE:TRTX) last announced its earnings results on Monday, June 6th. The company reported $0.27 earnings per share for the quarter. TPG RE Finance Trust had a return on equity of 6.37% and a net margin of 20.46%.The firm had revenue of $40.06 million for the quarter. On average, equities research analysts anticipate that TPG RE Finance Trust will post 0.99 EPS for the current year.

TPG RE Finance Trust announced that its board has initiated a stock buyback program on Thursday, September 4th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TRTX. State of New Jersey Common Pension Fund A purchased a new position in TPG RE Finance Trust during the 3rd quarter worth approximately $26,957,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of TPG RE Finance Trust by 3,783.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,324,357 shares of the company’s stock valued at $10,794,000 after buying an additional 1,290,256 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of TPG RE Finance Trust by 244.6% during the second quarter. Balyasny Asset Management L.P. now owns 980,198 shares of the company’s stock valued at $7,567,000 after buying an additional 695,728 shares in the last quarter. Dimension Capital Management LLC raised its position in TPG RE Finance Trust by 390.4% during the second quarter. Dimension Capital Management LLC now owns 459,723 shares of the company’s stock valued at $3,549,000 after buying an additional 365,971 shares during the period. Finally, Norges Bank acquired a new position in shares of TPG RE Finance Trust in the 2nd quarter valued at about $2,410,000. 57.12% of the stock is owned by hedge funds and other institutional investors.

About TPG RE Finance Trust

TPG RE Finance Trust, Inc (NYSE: TRTX) is a growth-oriented real estate finance company that originates and invests in a diversified portfolio of commercial real estate debt. The company’s primary business activities include the origination and acquisition of senior mortgage loans, mezzanine loans and preferred equity investments. These investments predominantly finance multifamily, office, industrial, retail and hospitality properties across the United States.

TPG RE Finance Trust pursues a flexible capital strategy, structuring transactions that range from first-lien floating-rate loans to subordinated debt and preferred equity.