Zacks Investment Research upgraded shares of TPG RE Finance Trust (NYSE:TRTX) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $22.00 target price on the stock.
According to Zacks, “TPG RE Finance Trust, Inc. is a commercial real estate finance company. It focuses primarily on directly originating, acquiring and managing commercial mortgage loans and other commercial real estate-related debt instruments. TPG RE Finance Trust, Inc. is headquartered in SAN FRANCISCO, United States. “
Separately, ValuEngine lowered TPG RE Finance Trust from a strong-buy rating to a buy rating in a research note on Wednesday, March 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of Buy and an average price target of $21.33.
TPG RE Finance Trust (NYSE:TRTX) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. The firm had revenue of $31.47 million for the quarter, compared to analyst estimates of $31.58 million. research analysts anticipate that TPG RE Finance Trust will post 1.91 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.51%. The ex-dividend date of this dividend is Wednesday, March 28th.
Institutional investors and hedge funds have recently modified their holdings of the company. American International Group Inc. raised its position in shares of TPG RE Finance Trust by 532.9% during the fourth quarter. American International Group Inc. now owns 7,487 shares of the company’s stock worth $143,000 after acquiring an additional 6,304 shares during the last quarter. First Republic Investment Management Inc. bought a new position in shares of TPG RE Finance Trust during the fourth quarter worth about $245,000. Boothbay Fund Management LLC bought a new position in shares of TPG RE Finance Trust during the third quarter worth about $275,000. California State Teachers Retirement System bought a new position in shares of TPG RE Finance Trust during the third quarter worth about $356,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of TPG RE Finance Trust during the third quarter worth about $390,000. Institutional investors own 32.45% of the company’s stock.
About TPG RE Finance Trust
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; and subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments secured by properties primarily in the office, mixed use, multifamily, industrial, retail, and hospitality real estate sectors.
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