Millennium Management LLC Purchases 273,086 Shares of TPG RE Finance Trust, Inc. (NYSE:TRTX)

Millennium Management LLC grew its holdings in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX) by 30.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,174,646 shares of the company’s stock after buying an additional 273,086 shares during the quarter. Millennium Management LLC owned 1.45% of TPG RE Finance Trust worth $10,149,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRTX. Caxton Associates LP bought a new position in TPG RE Finance Trust in the 2nd quarter valued at $106,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of TPG RE Finance Trust by 24.3% during 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. Cubist Systematic Strategies LLC boosted its stake in shares of TPG RE Finance Trust by 43.4% during the second quarter. Cubist Systematic Strategies LLC now owns 133,308 shares of the company’s stock valued at $1,152,000 after purchasing an additional 40,340 shares during the period. Sei Investments Co. grew its holdings in shares of TPG RE Finance Trust by 111.4% in the second quarter. Sei Investments Co. now owns 109,999 shares of the company’s stock worth $950,000 after purchasing an additional 57,974 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in TPG RE Finance Trust by 252.8% in the 2nd quarter. Renaissance Technologies LLC now owns 123,094 shares of the company’s stock worth $1,064,000 after buying an additional 88,200 shares during the period. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

TPG RE Finance Trust Stock Performance

Shares of TRTX stock opened at $8.25 on Wednesday. The company’s 50 day moving average is $8.63 and its 200 day moving average is $8.46. The company has a quick ratio of 154.59, a current ratio of 154.59 and a debt-to-equity ratio of 2.13. The firm has a market cap of $667.67 million, a price-to-earnings ratio of -5.25, a PEG ratio of 0.24 and a beta of 2.19. TPG RE Finance Trust, Inc. has a 52-week low of $4.64 and a 52-week high of $9.66.

TPG RE Finance Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 11.64%. The ex-dividend date of this dividend is Friday, September 27th. TPG RE Finance Trust’s payout ratio is -61.15%.

Wall Street Analyst Weigh In

TRTX has been the topic of a number of research analyst reports. BTIG Research restated 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. JMP Securities raised their price objective on 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.75.

TPG RE Finance Trust 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.