TPG RE Finance Trust (NYSE:TRTX) Price Target Cut to $8.50 by Analysts at JPMorgan Chase & Co.

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

TPG RE Finance Trust Price Performance

Shares of NYSE:TRTX opened at $8.46 on Tuesday. The firm has a market capitalization of $684.41 million, a PE ratio of 12.26, a PEG ratio of 0.25 and a beta of 2.17. The company has a current ratio of 152.83, a quick ratio of 152.83 and a debt-to-equity ratio of 2.03. TPG RE Finance Trust has a 1-year low of $5.12 and a 1-year high of $9.66. The business’s 50 day moving average is $8.75 and its 200-day moving average is $8.73.

TPG RE Finance Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, December 27th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 11.35%. The ex-dividend date is Friday, December 27th. TPG RE Finance Trust’s dividend payout ratio (DPR) is presently 139.13%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TRTX. Meeder Asset Management Inc. boosted its holdings in 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 valued at $50,000 after purchasing an additional 2,742 shares in the last quarter. McIlrath & Eck LLC bought a new position in shares of TPG RE Finance Trust during the 3rd quarter worth approximately $58,000. Quarry LP boosted its stake in TPG RE Finance Trust by 1,731.6% in the 2nd quarter. Quarry LP now owns 7,363 shares of the company’s stock valued at $64,000 after buying an additional 6,961 shares in the last quarter. Mackenzie Financial Corp bought a new stake in TPG RE Finance Trust in the second quarter valued at $95,000. Finally, Zacks Investment Management acquired a new position in TPG RE Finance Trust during the third quarter worth $94,000. Institutional investors and hedge funds own 57.12% of the company’s stock.

TPG RE Finance Trust Company Profile

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.