Franklin Resources Inc. Increases Holdings in TPG RE Finance Trust, Inc. (NYSE:TRTX)

Franklin Resources Inc. increased its stake in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) by 112.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,444 shares of the company's stock after acquiring an additional 82,817 shares during the quarter. Franklin Resources Inc. owned approximately 0.19% of TPG RE Finance Trust worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in TPG RE Finance Trust during the 2nd quarter valued at approximately $27,000. McIlrath & Eck LLC purchased a new position in shares of TPG RE Finance Trust during the third quarter valued at approximately $58,000. Quarry LP raised its holdings in shares of TPG RE Finance Trust by 1,731.6% during the second quarter. Quarry LP now owns 7,363 shares of the company's stock valued at $64,000 after acquiring an additional 6,961 shares in the last quarter. Zacks Investment Management purchased a new stake in TPG RE Finance Trust in the third quarter worth $94,000. Finally, Mackenzie Financial Corp bought a new stake in TPG RE Finance Trust in the second quarter valued at $95,000. 57.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upgraded shares of TPG RE Finance Trust from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $9.00 to $9.50 in a 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $9.08.

TPG RE Finance Trust Stock Down 3.7 %

TRTX stock traded down $0.08 during midday trading on Friday, hitting $8.40. The stock had a trading volume of 661,980 shares, compared to its average volume of 618,829. The business has a 50-day moving average of $8.82 and a two-hundred day moving average of $8.73. The company has a debt-to-equity ratio of 2.03, a current ratio of 152.83 and a quick ratio of 152.83. The firm has a market cap of $679.80 million, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 0.25 and a beta of 2.17. TPG RE Finance Trust, Inc. has a 52-week low of $5.12 and a 52-week high of $9.66.

TPG RE Finance Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 11.43%. The ex-dividend date of this dividend is Friday, December 27th. TPG RE Finance Trust's dividend payout ratio is presently 139.13%.

TPG RE Finance Trust Company Profile

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.