Prudential Financial Inc. Purchases New Shares in TPG RE Finance Trust, Inc. (NYSE:TRTX)

Prudential Financial Inc. acquired a new position in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX) during the fourth quarter, Holdings Channel reports. The fund acquired 179,520 shares of the company’s stock, valued at approximately $1,526,000.

Other institutional investors have also recently made changes to their positions in the company. Two Sigma Advisers LP lifted its position in shares of TPG RE Finance Trust by 162.0% during the third 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 in the last quarter. Van ECK Associates Corp bought a new position in shares of TPG RE Finance Trust during the 4th quarter worth approximately $5,588,000. Kovitz Investment Group Partners LLC purchased a new position in shares of TPG RE Finance Trust in the 3rd quarter worth approximately $2,328,000. Wolverine Asset Management LLC bought a new position in shares of TPG RE Finance Trust in the fourth quarter valued at approximately $2,287,000. Finally, Condor Capital Management increased its position in shares of TPG RE Finance Trust by 59.7% during the fourth quarter. Condor Capital Management now owns 438,548 shares of the company’s stock valued at $3,728,000 after acquiring an additional 163,934 shares during the last quarter. Institutional investors own 57.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price objective on TPG RE Finance Trust from $9.50 to $8.50 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, TPG RE Finance Trust currently has a consensus rating of “Buy” and an average target price of $9.40.

TPG RE Finance Trust Trading Down 4.4 %

NYSE:TRTX opened at $7.52 on Friday. The firm’s 50 day moving average is $8.43 and its 200 day moving average is $8.58. TPG RE Finance Trust, Inc. has a 12 month low of $6.99 and a 12 month high of $9.66. The stock has a market capitalization of $609.39 million, a PE ratio of 10.03, a price-to-earnings-growth ratio of 0.25 and a beta of 1.78. The company has a current ratio of 156.81, a quick ratio of 152.83 and a debt-to-equity ratio of 2.14.

TPG RE Finance Trust (NYSE:TRTX) last issued its earnings results on Tuesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.18). The firm had revenue of $34.74 million during the quarter, compared to the consensus estimate of $27.98 million. TPG RE Finance Trust had a net margin of 21.79% and a return on equity of 7.57%. Sell-side analysts expect that TPG RE Finance Trust, Inc. will post 0.99 earnings per share for the current year.

TPG RE Finance Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.96 dividend on an annualized basis and a yield of 12.76%. TPG RE Finance Trust’s dividend payout ratio is presently 128.00%.

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.