State Street Corp Reduces Stock Position in TPG RE Finance Trust, Inc. (NYSE:TRTX)

State Street Corp trimmed its stake in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,535,075 shares of the company’s stock after selling 31,081 shares during the period. State Street Corp owned approximately 1.90% of TPG RE Finance Trust worth $13,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in TPG RE Finance Trust during the second quarter valued at approximately $27,000. Quarry LP grew its holdings in TPG RE Finance Trust by 1,731.6% during the second quarter. Quarry LP now owns 7,363 shares of the company’s stock valued at $64,000 after purchasing an additional 6,961 shares during the period. Mackenzie Financial Corp purchased a new stake in TPG RE Finance Trust in the second quarter worth about $95,000. Dynamic Technology Lab Private Ltd bought a new position in shares of TPG RE Finance Trust in the third quarter worth about $99,000. Finally, Bailard Inc. purchased a new position in shares of TPG RE Finance Trust during the 2nd quarter valued at about $102,000. 57.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised shares of TPG RE Finance Trust from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $9.00 to $9.50 in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.08.

TPG RE Finance Trust Trading Up 1.5 %

TRTX stock opened at $8.77 on Thursday. The company has a market capitalization of $709.74 million, a price-to-earnings ratio of 12.71, a PEG ratio of 0.25 and a beta of 2.17. The company has a debt-to-equity ratio of 2.03, a current ratio of 152.83 and a quick ratio of 152.83. TPG RE Finance Trust, Inc. has a 1-year low of $5.12 and a 1-year high of $9.66. The business has a 50 day simple moving average of $8.83 and a two-hundred day simple moving average of $8.73.

TPG RE Finance Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, December 27th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.96 annualized dividend and a yield of 10.95%. TPG RE Finance Trust’s payout ratio is 139.13%.

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.