TPG RE Finance Trust Inc (NYSE:TRTX) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 486,300 shares, a decline of 6.6% from the September 30th total of 520,800 shares. Based on an average daily volume of 215,800 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.8% of the shares of the stock are sold short.
Several institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH increased its holdings in shares of TPG RE Finance Trust by 2.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 31,129 shares of the company’s stock worth $600,000 after buying an additional 653 shares during the last quarter. Royal Bank of Canada grew its holdings in TPG RE Finance Trust by 50.1% during the 2nd quarter. Royal Bank of Canada now owns 3,002 shares of the company’s stock valued at $58,000 after purchasing an additional 1,002 shares during the last quarter. Summit Global Investments grew its holdings in TPG RE Finance Trust by 3.9% during the 2nd quarter. Summit Global Investments now owns 35,000 shares of the company’s stock valued at $675,000 after purchasing an additional 1,300 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in TPG RE Finance Trust by 18.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,279 shares of the company’s stock valued at $217,000 after purchasing an additional 1,779 shares during the last quarter. Finally, United Services Automobile Association grew its holdings in TPG RE Finance Trust by 9.2% during the 2nd quarter. United Services Automobile Association now owns 22,148 shares of the company’s stock valued at $427,000 after purchasing an additional 1,864 shares during the last quarter. Hedge funds and other institutional investors own 54.29% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of TPG RE Finance Trust from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Sunday, November 3rd.
TPG RE Finance Trust stock opened at $20.16 on Wednesday. The company’s 50-day moving average price is $19.92 and its 200-day moving average price is $19.72. TPG RE Finance Trust has a twelve month low of $17.81 and a twelve month high of $20.56. The company has a quick ratio of 41.26, a current ratio of 41.26 and a debt-to-equity ratio of 2.88. The company has a market cap of $1.47 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 2.28 and a beta of 0.35.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, September 27th were issued a $0.43 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 8.53%. TPG RE Finance Trust’s dividend payout ratio (DPR) is presently 101.18%.
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 North America. It invests in commercial mortgage loans; and subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments secured by properties primarily in the office, mixed use, multifamily, industrial, retail, and hospitality real estate sectors.
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