TPG RE Finance Trust (NYSE:TRTX) Upgraded to “Overweight” by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a neutral rating to an overweight rating in a research report released on Thursday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $9.50 target price on the stock, up from their prior target price of $9.00.

Other research analysts have also recently issued reports about the stock. BTIG Research reissued a “buy” rating and set a $11.00 price target on shares of TPG RE Finance Trust in a report on Friday, July 19th. JMP Securities increased their target price on TPG RE Finance Trust from $9.50 to $10.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.08.

TPG RE Finance Trust Stock Up 2.0 %

Shares of TPG RE Finance Trust stock opened at $8.81 on Thursday. TPG RE Finance Trust has a one year low of $4.64 and a one year high of $9.66. The company has a market cap of $706.88 million, a P/E ratio of -5.61, a PEG ratio of 0.24 and a beta of 2.19. The company has a debt-to-equity ratio of 2.13, a quick ratio of 154.59 and a current ratio of 154.59. The firm has a fifty day moving average of $8.64 and a two-hundred day moving average of $8.49.

TPG RE Finance Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, September 27th. This represents a $0.96 annualized dividend and a yield of 10.90%. TPG RE Finance Trust’s dividend payout ratio is presently -61.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TRTX. Meeder Asset Management Inc. acquired a new stake in TPG RE Finance Trust in the 2nd quarter valued at about $27,000. Quarry LP grew its position in shares of TPG RE Finance Trust by 1,731.6% in the second quarter. Quarry LP now owns 7,363 shares of the company’s stock valued at $64,000 after purchasing an additional 6,961 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of TPG RE Finance Trust during the 2nd quarter worth approximately $95,000. Bailard Inc. acquired a new position in shares of TPG RE Finance Trust during the 2nd quarter worth approximately $102,000. Finally, Caxton Associates LP acquired a new position in shares of TPG RE Finance Trust during the 2nd quarter worth approximately $106,000. Hedge funds and other 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.