TPG RE Finance Trust, Inc. (NYSE:TRTX) Sees Large Increase in Short Interest

TPG RE Finance Trust, Inc. (NYSE:TRTX) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,110,000 shares, a growth of 20.6% from the February 13th total of 1,750,000 shares. Based on an average daily trading volume, of 574,800 shares, the days-to-cover ratio is presently 3.7 days. Approximately 3.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their price objective on TPG RE Finance Trust from $9.50 to $8.50 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, TPG RE Finance Trust has an average rating of “Buy” and a consensus price target of $9.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TRTX. New Age Alpha Advisors LLC purchased a new position in shares of TPG RE Finance Trust in the 4th quarter valued at about $43,000. Meeder Asset Management Inc. increased its holdings in shares of TPG RE Finance Trust by 88.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 5,847 shares of the company’s stock valued at $50,000 after acquiring an additional 2,742 shares during the last quarter. McIlrath & Eck LLC purchased a new position in shares of TPG RE Finance Trust in the 3rd quarter valued at about $58,000. KLP Kapitalforvaltning AS purchased a new position in shares of TPG RE Finance Trust in the 4th quarter valued at about $75,000. Finally, Virtu Financial LLC purchased a new position in shares of TPG RE Finance Trust in the 4th quarter valued at about $85,000. Hedge funds and other institutional investors own 57.12% of the company’s stock.

TPG RE Finance Trust Price Performance

Shares of NYSE TRTX opened at $8.53 on Thursday. The stock’s 50-day moving average is $8.48 and its two-hundred day moving average is $8.64. The company has a debt-to-equity ratio of 2.14, a current ratio of 156.81 and a quick ratio of 152.83. TPG RE Finance Trust has a 1-year low of $6.99 and a 1-year high of $9.66. The company has a market cap of $690.88 million, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.25 and a beta of 2.23.

TPG RE Finance Trust (NYSE:TRTX) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.18). TPG RE Finance Trust had a return on equity of 7.57% and a net margin of 21.79%. The company had revenue of $34.74 million for the quarter, compared to analysts’ expectations of $27.98 million. Analysts forecast that TPG RE Finance Trust will post 0.99 EPS for the current fiscal year.

TPG RE Finance Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 11.26%. TPG RE Finance Trust’s payout ratio is currently 128.00%.

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.