TPG RE Finance Trust (NYSE:TRTX) Shares Gap Down After Earnings Miss

Shares of TPG RE Finance Trust, Inc. (NYSE:TRTX) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $8.71, but opened at $8.35. TPG RE Finance Trust shares last traded at $8.13, with a volume of 310,419 shares trading hands.

The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.18). TPG RE Finance Trust had a negative return on equity of 7.50% and a net margin of 19.65%. The firm had revenue of $34.74 million during the quarter, compared to analysts’ expectations of $27.98 million.

TPG RE Finance Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, December 27th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 11.71%. TPG RE Finance Trust’s dividend payout ratio (DPR) is presently 139.13%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased their target price on TPG RE Finance Trust from $9.50 to $8.50 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, TPG RE Finance Trust has an average rating of “Moderate Buy” and an average price target of $8.92.

Hedge Funds Weigh In On TPG RE Finance Trust

A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in TPG RE Finance Trust by 125.4% in the 3rd quarter. SG Americas Securities LLC now owns 25,652 shares of the company’s stock worth $219,000 after buying an additional 14,273 shares during the period. Golden State Equity Partners boosted its holdings in TPG RE Finance Trust by 5.4% in the third quarter. Golden State Equity Partners now owns 105,170 shares of the company’s stock valued at $897,000 after acquiring an additional 5,410 shares in the last quarter. Summit Global Investments purchased a new stake in TPG RE Finance Trust in the third quarter worth about $585,000. Los Angeles Capital Management LLC increased its stake in shares of TPG RE Finance Trust by 9.2% during the third quarter. Los Angeles Capital Management LLC now owns 154,722 shares of the company’s stock valued at $1,320,000 after purchasing an additional 13,048 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of TPG RE Finance Trust by 882.6% in the 3rd quarter. GSA Capital Partners LLP now owns 206,078 shares of the company’s stock worth $1,758,000 after purchasing an additional 185,105 shares in the last quarter. 57.12% of the stock is owned by hedge funds and other institutional investors.

TPG RE Finance Trust Price Performance

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 has a market cap of $663.22 million, a PE ratio of 11.87, a P/E/G ratio of 0.26 and a beta of 2.16. The firm has a 50 day moving average of $8.57 and a two-hundred day moving average of $8.65.

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.