TPG RE Finance Trust (NYSE:TRTX) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a neutral rating to an overweight rating in a report published on Thursday morning, Marketbeat.com reports. They currently have $9.50 target price on the stock, up from their prior target price of $9.00.

TRTX has been the subject of a number of other reports. JMP Securities boosted their target price on shares of TPG RE Finance Trust from $9.50 to $10.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 21st. BTIG Research reaffirmed a “buy” rating and issued a $11.00 target price on shares of TPG RE Finance Trust in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.08.

TPG RE Finance Trust Stock Down 0.8 %

NYSE:TRTX opened at $8.74 on Thursday. TPG RE Finance Trust has a 12 month low of $4.64 and a 12 month high of $9.66. The company has a debt-to-equity ratio of 2.13, a quick ratio of 154.59 and a current ratio of 154.59. The company’s 50-day moving average price is $8.65 and its two-hundred day moving average price is $8.50.

TPG RE Finance Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 10.98%. The ex-dividend date of this dividend is Friday, September 27th. TPG RE Finance Trust’s dividend payout ratio is currently -259.46%.

Hedge Funds Weigh In On TPG RE Finance Trust

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of TPG RE Finance Trust by 4.7% in the first quarter. BNP Paribas Financial Markets now owns 56,807 shares of the company’s stock valued at $439,000 after purchasing an additional 2,552 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of TPG RE Finance Trust by 24.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,563 shares of the company’s stock valued at $126,000 after purchasing an additional 2,850 shares during the period. Meeder Asset Management Inc. bought a new position in shares of TPG RE Finance Trust in the second quarter valued at about $27,000. Price T Rowe Associates Inc. MD increased its position in TPG RE Finance Trust by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 75,376 shares of the company’s stock worth $582,000 after acquiring an additional 3,217 shares during the period. Finally, TCW Group Inc. increased its position in TPG RE Finance Trust by 4.8% during the second quarter. TCW Group Inc. now owns 103,274 shares of the company’s stock worth $892,000 after acquiring an additional 4,770 shares during the period. 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.