TPG RE Finance Trust (TRTX) Upgraded to “Hold” at Zacks Investment Research

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TPG RE Finance Trust (NYSE:TRTX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.

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, BTIG Research started coverage on shares of TPG RE Finance Trust in a research note on Tuesday, October 9th. They issued a “buy” rating and a $21.50 price objective for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $21.90.

Shares of TRTX traded up $0.03 during trading hours on Wednesday, reaching $19.97. 759 shares of the company traded hands, compared to its average volume of 241,551. The firm has a market capitalization of $1.32 billion, a P/E ratio of 11.47, a P/E/G ratio of 2.28 and a beta of -0.44. TPG RE Finance Trust has a 12-month low of $18.22 and a 12-month high of $21.05. The company has a current ratio of 18.34, a quick ratio of 18.34 and a debt-to-equity ratio of 2.25.

TPG RE Finance Trust (NYSE:TRTX) last issued its earnings results on Monday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. The firm had revenue of $35.05 million during the quarter, compared to analyst estimates of $34.64 million. TPG RE Finance Trust had a net margin of 43.06% and a return on equity of 8.10%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts predict that TPG RE Finance Trust will post 1.76 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in TRTX. BlackRock Inc. lifted its stake in TPG RE Finance Trust by 607.0% in the first quarter. BlackRock Inc. now owns 5,370,428 shares of the company’s stock worth $106,818,000 after acquiring an additional 4,610,851 shares during the period. KAMES CAPITAL plc purchased a new stake in shares of TPG RE Finance Trust during the third quarter valued at about $7,660,000. Resource America Inc. lifted its position in shares of TPG RE Finance Trust by 571.1% during the second quarter. Resource America Inc. now owns 167,663 shares of the company’s stock valued at $3,407,000 after buying an additional 142,678 shares during the last quarter. Timbercreek Investment Management Inc. lifted its position in shares of TPG RE Finance Trust by 117.2% during the first quarter. Timbercreek Investment Management Inc. now owns 253,271 shares of the company’s stock valued at $673,000 after buying an additional 136,649 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of TPG RE Finance Trust by 284.3% during the second quarter. Bank of America Corp DE now owns 146,237 shares of the company’s stock valued at $2,972,000 after buying an additional 108,182 shares during the last quarter. 36.87% of the stock is owned by institutional investors.

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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