Kovitz Investment Group Partners LLC acquired a new stake in shares of TPG RE Finance Trust, Inc. (NYSE:TRTX - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 272,871 shares of the company's stock, valued at approximately $2,328,000. Kovitz Investment Group Partners LLC owned about 0.34% of TPG RE Finance Trust as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in TRTX. Meeder Asset Management Inc. purchased a new position in TPG RE Finance Trust in the second quarter worth about $27,000. Quarry LP boosted its stake in TPG RE Finance Trust by 1,731.6% during the second quarter. Quarry LP now owns 7,363 shares of the company's stock worth $64,000 after buying an additional 6,961 shares during the period. Mackenzie Financial Corp bought a new stake in shares of TPG RE Finance Trust in the 2nd quarter worth about $95,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of TPG RE Finance Trust during the 3rd quarter worth about $99,000. Finally, Bailard Inc. bought a new position in TPG RE Finance Trust during the 2nd quarter valued at about $102,000. 57.12% of the stock is owned by hedge funds and other institutional investors.
TPG RE Finance Trust stock opened at $9.06 on Tuesday. The stock has a market cap of $733.21 million, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 0.25 and a beta of 2.17. The firm has a 50-day moving average of $8.71 and a two-hundred day moving average of $8.70. TPG RE Finance Trust, Inc. has a 1 year low of $5.12 and a 1 year high of $9.66. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were paid a $0.24 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.96 annualized dividend and a yield of 10.60%. TPG RE Finance Trust's dividend payout ratio (DPR) is currently 139.13%.
Several analysts have issued reports on TRTX shares. JMP Securities raised their price objective on shares of TPG RE Finance Trust from $9.50 to $10.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised TPG RE Finance Trust from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $9.00 to $9.50 in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, TPG RE Finance Trust has a consensus rating of "Moderate Buy" and an average target price of $9.08.
View Our Latest Analysis on 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.
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