TPG RE Finance Trust (NYSE:TRTX) Upgraded by JPMorgan Chase & Co. to “Overweight”

JPMorgan Chase & Co. upgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a neutral rating to an overweight rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $9.50 price objective on the stock, up from their prior price objective of $9.00.

Several other equities research analysts also recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $11.00 target price on shares of TPG RE Finance Trust in a research note on Friday, July 19th. JMP Securities raised their target price on shares of TPG RE Finance Trust from $9.50 to $10.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 21st. One 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 a consensus rating of “Moderate Buy” and an average target price of $9.08.

TPG RE Finance Trust Trading Down 0.8 %

Shares of NYSE:TRTX opened at $8.74 on Thursday. TPG RE Finance Trust has a 52-week low of $4.64 and a 52-week high of $9.66. The company has a market capitalization of $701.26 million, a P/E ratio of -5.57, a price-to-earnings-growth ratio of 0.24 and a beta of 2.19. The company has a 50-day simple moving average of $8.65 and a 200 day simple moving average of $8.50. The company has a debt-to-equity ratio of 2.13, a quick ratio of 154.59 and a current ratio of 154.59.

TPG RE Finance Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.96 annualized dividend and a yield of 10.98%. TPG RE Finance Trust’s dividend payout ratio is currently -61.15%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TRTX. Meeder Asset Management Inc. bought a new position in shares of TPG RE Finance Trust during the second quarter worth approximately $27,000. Quarry LP increased its holdings in shares of TPG RE Finance Trust by 1,731.6% during the second quarter. Quarry LP now owns 7,363 shares of the company’s stock worth $64,000 after purchasing an additional 6,961 shares during the period. Mackenzie Financial Corp bought a new position in shares of TPG RE Finance Trust during the second quarter worth approximately $95,000. Bailard Inc. bought a new position in shares of TPG RE Finance Trust during the second quarter worth approximately $102,000. Finally, Caxton Associates LP bought a new position in shares of TPG RE Finance Trust during the second quarter worth approximately $106,000. 57.12% of the stock is owned by institutional investors.

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.