TPG RE Finance Trust (NYSE:TRTX) Sees Unusually-High Trading Volume

TPG RE Finance Trust, Inc. (NYSE:TRTX) saw unusually-high trading volume on Tuesday . Approximately 4,402,392 shares traded hands during mid-day trading, an increase of 590% from the previous session’s volume of 637,673 shares.The stock last traded at $8.24 and had previously closed at $8.53.

Wall Street Analyst Weigh In

Several research firms have issued reports on TRTX. BTIG Research restated a “buy” rating and set a $11.00 target price on shares of TPG RE Finance Trust in a research note on Friday, July 19th. JMP Securities raised 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 report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

TPG RE Finance Trust Price Performance

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 has a market cap of $666.05 million, a P/E ratio of -5.26, a P/E/G ratio of 0.23 and a beta of 2.19. The firm’s fifty day moving average is $8.72 and its two-hundred day moving average is $8.44.

TPG RE Finance Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 11.66%. The ex-dividend date is Friday, September 27th. TPG RE Finance Trust’s dividend payout ratio (DPR) is -61.15%.

Institutional Trading of TPG RE Finance Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRTX. Long Pond Capital LP boosted its stake in TPG RE Finance Trust by 32.4% in the 2nd quarter. Long Pond Capital LP now owns 2,852,894 shares of the company’s stock worth $24,649,000 after purchasing an additional 697,736 shares during the period. Millennium Management LLC boosted its position in shares of TPG RE Finance Trust by 30.3% during the second quarter. Millennium Management LLC now owns 1,174,646 shares of the company’s stock worth $10,149,000 after acquiring an additional 273,086 shares during the last quarter. Algert Global LLC grew its stake in TPG RE Finance Trust by 12.8% during the second quarter. Algert Global LLC now owns 218,846 shares of the company’s stock valued at $1,891,000 after acquiring an additional 24,836 shares in the last quarter. Nokomis Capital L.L.C. bought a new stake in TPG RE Finance Trust in the 1st quarter valued at $1,437,000. Finally, Los Angeles Capital Management LLC lifted its stake in TPG RE Finance Trust by 14.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 141,674 shares of the company’s stock worth $1,224,000 after purchasing an additional 18,337 shares in the last quarter. 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.