TPG RE Finance Trust (NYSE:TRTX) Shares Gap Down to $8.60

TPG RE Finance Trust, Inc. (NYSE:TRTX) gapped down before the market opened on Thursday . The stock had previously closed at $8.60, but opened at $8.35. TPG RE Finance Trust shares last traded at $8.43, with a volume of 35,492 shares.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on TPG RE Finance Trust from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Bank of America reissued an “underperform” rating and issued a $6.50 price objective on shares of TPG RE Finance Trust in a research note on Monday, March 4th. Wells Fargo & Company raised their price objective on TPG RE Finance Trust from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, Raymond James cut TPG RE Finance Trust from a “strong-buy” rating to an “outperform” rating and set a $8.50 price objective for the company. in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.10.

TPG RE Finance Trust Stock Performance

The company has a current ratio of 138.05, a quick ratio of 138.05 and a debt-to-equity ratio of 2.25. The company has a 50-day moving average of $8.42 and a 200-day moving average of $7.36.

TPG RE Finance Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, June 27th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.96 annualized dividend and a dividend yield of 11.11%. TPG RE Finance Trust’s payout ratio is -61.15%.

Insider Activity at TPG RE Finance Trust

In related news, major shareholder Starwood Capital Group Global sold 9,352,941 shares of TPG RE Finance Trust stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $8.84, for a total transaction of $82,679,998.44. Following the transaction, the insider now owns 2,647,059 shares of the company’s stock, valued at $23,400,001.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TRTX. Los Angeles Capital Management LLC bought a new stake in TPG RE Finance Trust during the first quarter worth $952,000. Swiss National Bank lifted its holdings in TPG RE Finance Trust by 9.2% during the third quarter. Swiss National Bank now owns 127,600 shares of the company’s stock worth $859,000 after acquiring an additional 10,700 shares during the period. Hsbc Holdings PLC lifted its holdings in TPG RE Finance Trust by 48.0% during the third quarter. Hsbc Holdings PLC now owns 42,399 shares of the company’s stock worth $284,000 after acquiring an additional 13,745 shares during the period. Vanguard Group Inc. lifted its holdings in TPG RE Finance Trust by 0.9% during the third quarter. Vanguard Group Inc. now owns 5,985,415 shares of the company’s stock worth $40,282,000 after acquiring an additional 51,839 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in TPG RE Finance Trust by 9.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,230,218 shares of the company’s stock worth $7,996,000 after acquiring an additional 108,106 shares during the period. Hedge funds and other institutional investors own 57.12% of the company’s stock.

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.