Van ECK Associates Corp Increases Position in TPG RE Finance Trust, Inc. $TRTX

Van ECK Associates Corp lifted its position in TPG RE Finance Trust, Inc. (NYSE:TRTX) by 9.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 816,098 shares of the company’s stock after acquiring an additional 69,463 shares during the period. Van ECK Associates Corp’s holdings in TPG RE Finance Trust were worth $6,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRTX. BlackRock Inc. acquired a new stake in TPG RE Finance Trust during the 2nd quarter worth about $54,386,000. Balyasny Asset Management L.P. increased its holdings in shares of TPG RE Finance Trust by 244.6% in the second quarter. Balyasny Asset Management L.P. now owns 980,198 shares of the company’s stock valued at $7,567,000 after purchasing an additional 695,728 shares during the period. Focus Partners Wealth acquired a new position in shares of TPG RE Finance Trust in the fourth quarter valued at about $3,964,000. Almitas Capital LLC purchased a new position in shares of TPG RE Finance Trust in the second quarter worth about $3,036,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of TPG RE Finance Trust by 60.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 929,566 shares of the company’s stock worth $7,260,000 after purchasing an additional 350,020 shares during the last quarter. Hedge funds and other institutional investors own 57.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TRTX. Weiss Ratings lowered TPG RE Finance Trust from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of TPG RE Finance Trust from $9.50 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Wall Street Zen downgraded shares of TPG RE Finance Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Citigroup reiterated a “market outperform” rating on shares of TPG RE Finance Trust in a research note on Tuesday, June 9th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.00.

TPG RE Finance Trust Trading Up 1.5%

Shares of TPG RE Finance Trust stock opened at $7.80 on Thursday. The firm has a 50-day simple moving average of $8.20 and a two-hundred day simple moving average of $8.27. The company has a debt-to-equity ratio of 3.30, a quick ratio of 200.26 and a current ratio of 200.26. TPG RE Finance Trust, Inc. has a fifty-two week low of $7.57 and a fifty-two week high of $9.85. The company has a market cap of $598.50 million, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42.

TPG RE Finance Trust (NYSE:TRTX) last posted its earnings results on Tuesday, July 28th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.03). TPG RE Finance Trust had a net margin of 17.03% and a return on equity of 6.85%. The business had revenue of $34.01 million for the quarter, compared to analyst estimates of $37.30 million. As a group, equities analysts predict that TPG RE Finance Trust, Inc. will post 0.92 earnings per share for the current fiscal year.

TPG RE Finance Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, June 26th were given a dividend of $0.24 per share. The ex-dividend date was Friday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 12.3%. TPG RE Finance Trust’s dividend payout ratio is currently 177.78%.

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.