JPMorgan Chase & Co. Cuts TPG RE Finance Trust (NYSE:TRTX) Price Target to $7.00

TPG RE Finance Trust (NYSE:TRTX) had its target price trimmed by JPMorgan Chase & Co. from $8.50 to $7.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

TPG RE Finance Trust Price Performance

Shares of NYSE:TRTX opened at $7.16 on Wednesday. The company has a market capitalization of $575.24 million, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 0.25 and a beta of 1.78. The company’s 50-day moving average is $8.08 and its 200 day moving average is $8.45. The company has a debt-to-equity ratio of 2.14, a quick ratio of 152.83 and a current ratio of 156.81. TPG RE Finance Trust has a fifty-two week low of $6.47 and a fifty-two week high of $9.66.

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

TPG RE Finance Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.96 annualized dividend and a dividend yield of 13.42%. TPG RE Finance Trust’s payout ratio is presently 128.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new stake in TPG RE Finance Trust during the fourth quarter valued at about $43,000. McIlrath & Eck LLC bought a new stake in shares of TPG RE Finance Trust in the third quarter valued at approximately $58,000. KLP Kapitalforvaltning AS purchased a new stake in shares of TPG RE Finance Trust during the 4th quarter valued at approximately $75,000. Virtu Financial LLC purchased a new stake in shares of TPG RE Finance Trust during the 4th quarter valued at approximately $85,000. Finally, Stratos Wealth Partners LTD. boosted its holdings in TPG RE Finance Trust by 20.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 15,456 shares of the company’s stock worth $131,000 after buying an additional 2,623 shares during the period. 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.