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

TPG RE Finance Trust, Inc. (NYSE:TRTX)’s share price gapped down before the market opened 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 for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.18). TPG RE Finance Trust had a net margin of 19.65% and a negative return on equity of 7.50%. The company had revenue of $34.74 million for the quarter, compared to the consensus estimate of $27.98 million.

TPG RE Finance Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, December 27th were issued a $0.24 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.96 dividend on an annualized basis and a yield of 11.71%. TPG RE Finance Trust’s dividend payout ratio is currently 139.13%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On TPG RE Finance Trust

Several large investors have recently modified their holdings of TRTX. New Age Alpha Advisors LLC purchased a new position in TPG RE Finance Trust in the 4th quarter worth about $43,000. Meeder Asset Management Inc. increased its position in shares of TPG RE Finance Trust by 88.3% during the third quarter. Meeder Asset Management Inc. now owns 5,847 shares of the company’s stock worth $50,000 after acquiring an additional 2,742 shares during the period. McIlrath & Eck LLC bought a new stake in shares of TPG RE Finance Trust during the third quarter valued at approximately $58,000. KLP Kapitalforvaltning AS bought a new stake in shares of TPG RE Finance Trust during the fourth quarter valued at approximately $75,000. Finally, Virtu Financial LLC purchased a new stake in shares of TPG RE Finance Trust in the fourth quarter valued at approximately $85,000. Institutional investors own 57.12% of the company’s stock.

TPG RE Finance Trust Stock Performance

The company has a quick ratio of 152.83, a current ratio of 152.83 and a debt-to-equity ratio of 2.03. The company has a market cap of $663.22 million, a P/E ratio of 11.87, a PEG ratio of 0.26 and a beta of 2.16. The firm has a 50 day moving average of $8.57 and a 200-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.