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 lowered by JPMorgan Chase & Co. from $8.50 to $7.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

TPG RE Finance Trust Stock Performance

TPG RE Finance Trust stock opened at $7.16 on Wednesday. TPG RE Finance Trust has a 1-year low of $6.47 and a 1-year high of $9.66. The company has a current ratio of 156.81, a quick ratio of 152.83 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $575.24 million, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.25 and a beta of 1.78. The firm’s 50 day simple moving average is $8.08 and its 200 day simple moving average is $8.45.

TPG RE Finance Trust (NYSE:TRTX) last released 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). The firm had revenue of $34.74 million during the quarter, compared to the consensus estimate of $27.98 million. TPG RE Finance Trust had a return on equity of 7.57% and a net margin of 21.79%. As a group, analysts expect that TPG RE Finance Trust will post 0.99 earnings per share for the current fiscal year.

TPG RE Finance Trust Announces Dividend

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

Hedge Funds Weigh In On TPG RE Finance Trust

Institutional investors have recently made changes to their positions in the stock. New Age Alpha Advisors LLC bought a new position in TPG RE Finance Trust in the fourth quarter valued at $43,000. McIlrath & Eck LLC purchased a new position in shares of TPG RE Finance Trust in the 3rd quarter worth about $58,000. KLP Kapitalforvaltning AS bought a new position in shares of TPG RE Finance Trust during the 4th quarter valued at about $75,000. Virtu Financial LLC purchased a new position in shares of TPG RE Finance Trust during the 4th quarter valued at about $85,000. Finally, Stratos Wealth Partners LTD. lifted its position 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 last quarter. 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.