TPG RE Finance Trust (NYSE:TRTX) Given New $9.00 Price Target at Wells Fargo & Company

TPG RE Finance Trust (NYSE:TRTX) had its target price boosted by Wells Fargo & Company from $7.00 to $9.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

TRTX has been the topic of several other research reports. Raymond James downgraded shares of TPG RE Finance Trust from a strong-buy rating to an outperform rating and set a $8.50 price target on the stock. in a report on Friday, April 12th. Bank of America reissued an underperform rating and set a $6.50 target price on shares of TPG RE Finance Trust in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of TPG RE Finance Trust from $7.00 to $7.50 and gave the company a neutral rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $8.10.

TPG RE Finance Trust Stock Performance

Shares of TRTX opened at $8.85 on Tuesday. The stock has a 50-day moving average of $7.65 and a two-hundred day moving average of $6.62. The company has a debt-to-equity ratio of 2.25, a quick ratio of 138.05 and a current ratio of 138.05. The stock has a market cap of $689.15 million, a P/E ratio of -5.64 and a beta of 2.10. TPG RE Finance Trust has a one year low of $4.64 and a one year high of $8.89.

TPG RE Finance Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.96 annualized dividend and a dividend yield of 10.85%. TPG RE Finance Trust’s dividend payout ratio is presently -61.15%.

Institutional Investors Weigh In On TPG RE Finance Trust

Hedge funds have recently modified their holdings of the company. TFO Wealth Partners LLC boosted its holdings in TPG RE Finance Trust by 35,280.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,076 shares of the company’s stock valued at $46,000 after purchasing an additional 7,056 shares during the last quarter. Principal Financial Group Inc. acquired a new position in TPG RE Finance Trust in the third quarter valued at approximately $70,000. Quantbot Technologies LP purchased a new position in TPG RE Finance Trust in the third quarter worth approximately $80,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TPG RE Finance Trust by 51.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,186 shares of the company’s stock worth $99,000 after acquiring an additional 5,128 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in TPG RE Finance Trust by 1,094.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,657 shares of the company’s stock valued at $102,000 after purchasing an additional 14,346 shares during the period. Hedge funds and other institutional investors own 57.12% 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; 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.