Geode Capital Management LLC increased its holdings in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,456,883 shares of the company's stock after acquiring an additional 88,592 shares during the quarter. Geode Capital Management LLC owned approximately 1.80% of TPG RE Finance Trust worth $12,430,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Long Pond Capital LP lifted its stake in TPG RE Finance Trust by 32.4% in the second quarter. Long Pond Capital LP now owns 2,852,894 shares of the company's stock valued at $24,649,000 after buying an additional 697,736 shares during the last quarter. Citigroup Inc. lifted its position in TPG RE Finance Trust by 1.3% in the 3rd quarter. Citigroup Inc. now owns 1,901,741 shares of the company's stock valued at $16,222,000 after purchasing an additional 25,115 shares during the last quarter. Two Sigma Advisers LP lifted its position in TPG RE Finance Trust by 162.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,282,500 shares of the company's stock valued at $10,940,000 after purchasing an additional 793,000 shares during the last quarter. Millennium Management LLC grew its position in TPG RE Finance Trust by 30.3% in the 2nd quarter. Millennium Management LLC now owns 1,174,646 shares of the company's stock worth $10,149,000 after purchasing an additional 273,086 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in TPG RE Finance Trust in the 3rd quarter worth about $2,328,000. Institutional investors and hedge funds own 57.12% of the company's stock.
TPG RE Finance Trust Price Performance
Shares of TRTX stock traded up $0.16 during midday trading on Tuesday, reaching $8.50. 395,174 shares of the company were exchanged, compared to its average volume of 617,555. The company's 50 day moving average price is $8.82 and its two-hundred day moving average price is $8.74. The company has a market cap of $687.89 million, a P/E ratio of 12.32, a PEG ratio of 0.25 and a beta of 2.17. TPG RE Finance Trust, Inc. has a 12 month low of $5.12 and a 12 month high of $9.66. The company has a debt-to-equity ratio of 2.03, a quick ratio of 152.83 and a current ratio of 152.83.
TPG RE Finance Trust Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, December 27th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, December 27th. This represents a $0.96 annualized dividend and a yield of 11.29%. TPG RE Finance Trust's payout ratio is 139.13%.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. upgraded TPG RE Finance Trust from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $9.00 to $9.50 in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.08.
Read Our Latest Research Report on TRTX
TPG RE Finance Trust Profile
(
Free Report)
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.
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