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

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

TPG RE Finance Trust Stock Performance

Shares of TPG RE Finance Trust stock opened at $8.31 on Tuesday. The stock has a market cap of $672.12 million, a price-to-earnings ratio of 12.04, a PEG ratio of 0.24 and a beta of 2.17. The firm’s 50-day moving average is $8.73 and its 200 day moving average is $8.72. TPG RE Finance Trust has a 1 year low of $5.12 and a 1 year high of $9.66. The company has a debt-to-equity ratio of 2.03, a current ratio of 152.83 and a quick ratio of 152.83.

TPG RE Finance Trust Dividend Announcement

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

Hedge Funds Weigh In On TPG RE Finance Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its stake in TPG RE Finance Trust by 88.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,847 shares of the company’s stock valued at $50,000 after acquiring an additional 2,742 shares during the period. McIlrath & Eck LLC bought a new position in TPG RE Finance Trust during the 3rd quarter valued at about $58,000. Quarry LP lifted its stake in TPG RE Finance Trust by 1,731.6% during the 2nd quarter. Quarry LP now owns 7,363 shares of the company’s stock valued at $64,000 after acquiring an additional 6,961 shares during the period. Zacks Investment Management bought a new position in TPG RE Finance Trust during the 3rd quarter valued at about $94,000. Finally, Mackenzie Financial Corp bought a new position in TPG RE Finance Trust during the 2nd quarter valued at about $95,000. 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.