TPG RE Finance Trust (NYSE:TRTX) to Buyback $25.00 million in Outstanding Stock

TPG RE Finance Trust (NYSE:TRTX) declared that its board has authorized a stock buyback program on Thursday, September 4th, RTT News reports. The company plans to repurchase $25.00 million in shares. This repurchase authorization allows the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently commented on TRTX shares. Wall Street Zen upgraded TPG RE Finance Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Zacks Research upgraded TPG RE Finance Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Finally, Wells Fargo & Company raised their target price on TPG RE Finance Trust from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, TPG RE Finance Trust presently has an average rating of “Buy” and a consensus target price of $9.50.

TPG RE Finance Trust Price Performance

TRTX stock opened at $9.67 on Friday. The company has a market capitalization of $759.57 million, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 2.56 and a beta of 1.68. The company has a debt-to-equity ratio of 2.75, a quick ratio of 193.29 and a current ratio of 193.29. TPG RE Finance Trust has a 52-week low of $6.47 and a 52-week high of $9.85. The business has a 50-day simple moving average of $8.67 and a two-hundred day simple moving average of $8.14.

TPG RE Finance Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, July 25th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, June 27th. This represents a $0.96 dividend on an annualized basis and a yield of 9.9%. TPG RE Finance Trust’s payout ratio is 147.69%.

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.