Key Points
- Director Michael Gillmore bought 2,000 shares for $12,860 at $6.43 each, increasing his holdings by 400% to 2,500 shares.
- TPG RE Finance Trust missed quarterly expectations, reporting EPS of $0.07 versus the $0.25 consensus and revenue of $35.92 million versus $37.10 million expected.
- The company’s quarterly dividend equates to an annualized $0.96 per share and a 14.1% yield; analysts’ consensus rating is Hold, with a $9.33 average price target.
TPG RE Finance Trust, Inc. (NYSE:TRTX - Get Free Report) Director Michael Gillmore acquired 2,000 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was purchased at an average cost of $6.43 per share, with a total value of $12,860.00. Following the completion of the acquisition, the director owned 2,500 shares of the company's stock, valued at $16,075. The trade was a 400.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
TPG RE Finance Trust Trading Down 0.2%
NYSE:TRTX opened at $6.82 on Wednesday. The company has a quick ratio of 246.28, a current ratio of 246.28 and a debt-to-equity ratio of 4.05. The business's 50 day moving average is $6.74 and its two-hundred day moving average is $7.98. TPG RE Finance Trust, Inc. has a 52 week low of $5.60 and a 52 week high of $9.35. The company has a market cap of $516.78 million, a PE ratio of 17.47, a P/E/G ratio of 1.56 and a beta of 1.48.
TPG RE Finance Trust (NYSE:TRTX - Get Free Report) last issued its earnings results on Monday, October 26th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.18). TPG RE Finance Trust had a return on equity of 5.21% and a net margin of 13.13%. The firm had revenue of $35.92 million during the quarter, compared to analyst estimates of $37.10 million. On average, analysts predict that TPG RE Finance Trust, Inc. will post 0.88 EPS for the current year.
TPG RE Finance Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Monday, September 28th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, September 28th. This represents a $0.96 annualized dividend and a yield of 14.1%. TPG RE Finance Trust's dividend payout ratio (DPR) is 246.15%.
Analysts Set New Price Targets
Several analysts have weighed in on TRTX shares. Citigroup reiterated a "market outperform" rating on shares of TPG RE Finance Trust in a research note on Thursday, September 17th. Wells Fargo & Company reduced their price target on shares of TPG RE Finance Trust from $9.00 to $8.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 28th. JPMorgan Chase & Co. lifted their price target on shares of TPG RE Finance Trust from $9.50 to $10.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Weiss Ratings lowered shares of TPG RE Finance Trust from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. Finally, Wall Street Zen raised shares of TPG RE Finance Trust from a "sell" rating to a "hold" rating in a research report on Saturday, October 17th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $9.33.
Read Our Latest Report on TRTX
Institutional Trading of TPG RE Finance Trust
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of TPG RE Finance Trust in the 2nd quarter worth approximately $54,386,000. Almitas Capital LLC acquired a new position in TPG RE Finance Trust during the 2nd quarter valued at approximately $3,036,000. Arrowstreet Capital Limited Partnership boosted its position in TPG RE Finance Trust by 60.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 929,566 shares of the company's stock valued at $7,260,000 after purchasing an additional 350,020 shares during the period. Bank of America Corp DE acquired a new position in TPG RE Finance Trust during the 2nd quarter valued at approximately $2,265,000. Finally, Bank of New York Mellon Corp bought a new position in TPG RE Finance Trust during the 2nd quarter worth $1,768,000. 57.12% of the stock is currently owned by institutional investors and hedge funds.
TPG RE Finance Trust Company Profile
(
Get Free Report)
TPG RE Finance Trust, Inc is a commercial real estate finance company that operates as a real estate investment trust (REIT). The company originates, acquires and manages commercial mortgage loans secured primarily by properties in the United States.
Its portfolio is focused on transitional senior loans, which finance commercial properties undergoing lease-up, renovation, redevelopment or repositioning. These loans are generally secured by institutional-quality real estate across property types such as multifamily, office, hotel, industrial and retail.
TPG RE Finance Trust was formed in 2014 and completed its initial public offering in 2017.
Further Reading
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