Short Interest in TPG RE Finance Trust, Inc. (NYSE:TRTX) Declines By 17.1%

TPG RE Finance Trust, Inc. (NYSE:TRTX) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 2,430,000 shares, a decline of 17.1% from the March 31st total of 2,930,000 shares. Based on an average daily volume of 706,300 shares, the days-to-cover ratio is currently 3.4 days. Currently, 4.0% of the shares of the stock are sold short.

TPG RE Finance Trust Price Performance

Shares of TRTX opened at $7.55 on Friday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 158.41 and a current ratio of 158.41. TPG RE Finance Trust has a fifty-two week low of $4.64 and a fifty-two week high of $8.12. The firm has a 50 day moving average price of $7.42 and a 200-day moving average price of $6.53.

TPG RE Finance Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Thursday, March 28th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 12.72%. TPG RE Finance Trust’s dividend payout ratio is currently -56.80%.

Institutional Investors Weigh In On TPG RE Finance Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in TPG RE Finance Trust during the 1st quarter valued at $952,000. Tower Research Capital LLC TRC raised its holdings in TPG RE Finance Trust by 1,094.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,657 shares of the company’s stock valued at $102,000 after buying an additional 14,346 shares during the last quarter. Evoke Wealth LLC increased its position in TPG RE Finance Trust by 183.0% during the 4th quarter. Evoke Wealth LLC now owns 182,710 shares of the company’s stock valued at $1,231,000 after purchasing an additional 118,149 shares during the period. TFO Wealth Partners LLC increased its position in TPG RE Finance Trust by 35,280.0% during 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 period. Finally, BNP Paribas Financial Markets increased its position in TPG RE Finance Trust by 17.2% during the 4th quarter. BNP Paribas Financial Markets now owns 54,255 shares of the company’s stock valued at $353,000 after purchasing an additional 7,964 shares during the period. 57.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TRTX. Wells Fargo & Company lifted their target price on shares of TPG RE Finance Trust from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. lifted their target price on shares of TPG RE Finance Trust from $7.00 to $7.50 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Raymond James lowered shares of TPG RE Finance Trust from a “strong-buy” rating to an “outperform” rating and set a $8.50 price objective for the company. in a report on Friday, April 12th. Finally, Bank of America restated an “underperform” rating and issued a $6.50 price objective on shares of TPG RE Finance Trust in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.70.

TPG RE Finance Trust Company Profile

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.