TPG RE Finance Trust (NYSE:TRTX) Announces Earnings Results

TPG RE Finance Trust (NYSE:TRTX) posted its quarterly earnings results on Tuesday. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.03), FiscalAI reports. The company had revenue of $34.01 million for the quarter, compared to analyst estimates of $37.30 million. TPG RE Finance Trust had a return on equity of 6.91% and a net margin of 19.38%.

TPG RE Finance Trust Price Performance

TRTX stock opened at $8.34 on Wednesday. The company has a market cap of $644.77 million, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.75 and a beta of 1.40. The company has a current ratio of 201.40, a quick ratio of 201.40 and a debt-to-equity ratio of 3.11. The stock has a 50-day moving average price of $8.49 and a two-hundred day moving average price of $8.48. TPG RE Finance Trust has a 12-month low of $7.57 and a 12-month high of $9.85.

TPG RE Finance Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, June 26th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 11.5%. TPG RE Finance Trust’s payout ratio is currently 152.38%.

Analysts Set New Price Targets

TRTX has been the subject of a number of research analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of TPG RE Finance Trust in a report on Tuesday, June 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of TPG RE Finance Trust in a research report on Friday, May 22nd. JPMorgan Chase & Co. raised their price target on TPG RE Finance Trust from $9.50 to $10.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Zacks Research upgraded shares of TPG RE Finance Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Hedge Funds Weigh In On TPG RE Finance Trust

Several hedge funds and other institutional investors have recently made changes to their positions in TRTX. AQR Capital Management LLC purchased a new position in TPG RE Finance Trust in the first quarter valued at about $127,000. Goldman Sachs Group Inc. lifted its position in shares of TPG RE Finance Trust by 5.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,930,865 shares of the company’s stock worth $32,037,000 after buying an additional 192,126 shares during the last quarter. Strs Ohio acquired a new position in TPG RE Finance Trust in the first quarter valued at approximately $87,000. Rhumbline Advisers grew its stake in TPG RE Finance Trust by 27.3% during the 2nd quarter. Rhumbline Advisers now owns 115,146 shares of the company’s stock worth $889,000 after buying an additional 24,691 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of TPG RE Finance Trust by 11.9% during the second quarter. Hsbc Holdings PLC now owns 40,674 shares of the company’s stock worth $312,000 after buying an additional 4,333 shares during the period. Institutional investors and hedge funds own 57.12% of the company’s stock.

TPG RE Finance Trust Company Profile

TPG RE Finance Trust, Inc (NYSE: TRTX) is a growth-oriented real estate finance company that originates and invests in a diversified portfolio of commercial real estate debt. The company’s primary business activities include the origination and acquisition of senior mortgage loans, mezzanine loans and preferred equity investments. These investments predominantly finance multifamily, office, industrial, retail and hospitality properties across the United States.

TPG RE Finance Trust pursues a flexible capital strategy, structuring transactions that range from first-lien floating-rate loans to subordinated debt and preferred equity.