TPG RE Finance Trust (NYSE:TRTX) Releases Quarterly Earnings Results, Misses Estimates By $0.18 EPS

TPG RE Finance Trust (NYSE:TRTX) issued its earnings results on Monday. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.18), FiscalAI reports. The firm had revenue of $35.92 million for the quarter, compared to analyst estimates of $37.10 million.

TPG RE Finance Trust Price Performance

Shares of TPG RE Finance Trust stock opened at $6.30 on Wednesday. TPG RE Finance Trust has a 1 year low of $5.60 and a 1 year high of $9.37. The company’s fifty day moving average is $6.87 and its two-hundred day moving average is $8.04.

TPG RE Finance Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Monday, September 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 15.2%. The ex-dividend date of this dividend was Monday, September 28th.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TRTX shares. JPMorgan Chase & Co. boosted their price target on shares of TPG RE Finance Trust from $9.50 to $10.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Citigroup reaffirmed a “market outperform” rating on shares of TPG RE Finance Trust in a report on Thursday, September 17th. Wall Street Zen upgraded TPG RE Finance Trust from a “sell” rating to a “hold” rating in a research report on Saturday, October 17th. Weiss Ratings downgraded TPG RE Finance Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 16th. Finally, UBS Group downgraded TPG RE Finance Trust to a “neutral” rating in a report on Thursday, September 17th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.00.

About TPG RE Finance Trust

TPG RE Finance Trust, Inc is a commercial real estate finance company that operates as a real estate investment trust (REIT). The company originates, acquires and manages commercial mortgage loans secured primarily by properties in the United States.

Its portfolio is focused on transitional senior loans, which finance commercial properties undergoing lease-up, renovation, redevelopment or repositioning. These loans are generally secured by institutional-quality real estate across property types such as multifamily, office, hotel, industrial and retail.

TPG RE Finance Trust was formed in 2014 and completed its initial public offering in 2017.