JPMorgan Chase & Co. Cuts TPG RE Finance Trust (NYSE:TRTX) Price Target to $8.50

TPG RE Finance Trust (NYSE:TRTX) had its price objective cut by JPMorgan Chase & Co. from $9.50 to $8.50 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

TPG RE Finance Trust Stock Down 0.4 %

Shares of TPG RE Finance Trust stock opened at $8.31 on Tuesday. The company has a current ratio of 152.83, a quick ratio of 152.83 and a debt-to-equity ratio of 2.03. The company’s fifty day simple moving average is $8.73 and its two-hundred day simple moving average is $8.72. The company has a market cap of $672.12 million, a P/E ratio of 12.04, a PEG ratio of 0.24 and a beta of 2.17. TPG RE Finance Trust has a 12-month low of $5.12 and a 12-month high of $9.66.

TPG RE Finance Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, December 27th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 11.56%. The ex-dividend date of this dividend is Friday, December 27th. TPG RE Finance Trust’s payout ratio is currently 139.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its position 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 worth $50,000 after buying an additional 2,742 shares during the period. McIlrath & Eck LLC purchased a new stake in shares of TPG RE Finance Trust in the 3rd quarter worth about $58,000. Quarry LP grew its position in shares of TPG RE Finance Trust by 1,731.6% in the 2nd quarter. Quarry LP now owns 7,363 shares of the company’s stock worth $64,000 after buying an additional 6,961 shares during the period. Zacks Investment Management purchased a new stake in shares of TPG RE Finance Trust in the 3rd quarter worth about $94,000. Finally, Mackenzie Financial Corp bought a new position in TPG RE Finance Trust in the 2nd quarter worth about $95,000. 57.12% of the stock is owned by hedge funds and other institutional investors.

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.