State of New Jersey Common Pension Fund A Purchases New Stake in TPG RE Finance Trust, Inc. $TRTX

State of New Jersey Common Pension Fund A acquired a new position in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX) in the 3rd quarter, HoldingsChannel reports. The fund acquired 3,149,148 shares of the company’s stock, valued at approximately $26,957,000. TPG RE Finance Trust makes up 9.6% of State of New Jersey Common Pension Fund A’s investment portfolio, making the stock its 3rd largest position.

A number of other hedge funds have also made changes to their positions in the business. Balyasny Asset Management L.P. lifted its holdings in shares of TPG RE Finance Trust by 244.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 980,198 shares of the company’s stock valued at $7,567,000 after acquiring an additional 695,728 shares in the last quarter. Dimension Capital Management LLC raised its position in TPG RE Finance Trust by 390.4% in the second quarter. Dimension Capital Management LLC now owns 459,723 shares of the company’s stock valued at $3,549,000 after purchasing an additional 365,971 shares during the period. Norges Bank purchased a new position in TPG RE Finance Trust in the second quarter valued at about $2,410,000. Goldman Sachs Group Inc. lifted its stake in shares of TPG RE Finance Trust by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,930,865 shares of the company’s stock worth $32,037,000 after purchasing an additional 192,126 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of TPG RE Finance Trust by 684.5% in the second quarter. SG Americas Securities LLC now owns 186,527 shares of the company’s stock worth $1,440,000 after buying an additional 162,749 shares during the period. Hedge funds and other institutional investors own 57.12% of the company’s stock.

TPG RE Finance Trust Price Performance

TRTX stock opened at $9.12 on Wednesday. The stock’s 50 day moving average is $9.00 and its two-hundred day moving average is $8.92. TPG RE Finance Trust, Inc. has a 52-week low of $6.47 and a 52-week high of $9.85. The company has a market capitalization of $713.73 million, a PE ratio of 14.03, a P/E/G ratio of 1.71 and a beta of 1.54. The company has a quick ratio of 166.64, a current ratio of 166.64 and a debt-to-equity ratio of 2.61.

TPG RE Finance Trust (NYSE:TRTX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $37.84 million for the quarter, compared to analyst estimates of $27.87 million. TPG RE Finance Trust had a return on equity of 6.37% and a net margin of 20.46%. Analysts predict that TPG RE Finance Trust, Inc. will post 0.99 earnings per share for the current fiscal year.

TPG RE Finance Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Friday, December 26th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date was Friday, December 26th. TPG RE Finance Trust’s dividend payout ratio is 147.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TRTX shares. JPMorgan Chase & Co. raised their target price on TPG RE Finance Trust from $10.00 to $10.50 and gave the company an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TPG RE Finance Trust in a research report on Monday, December 29th. Zacks Research lowered shares of TPG RE Finance Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of TPG RE Finance Trust from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.75.

TPG RE Finance Trust 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.