TPG RE Finance Trust (NYSE:TRTX) Trading Up 68.6% After Dividend Announcement

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Shares of TPG RE Finance Trust Inc (NYSE:TRTX) rose 68.6% on Thursday after the company announced a dividend. The stock traded as high as $6.68 and last traded at $5.75, approximately 7,839,119 shares changed hands during mid-day trading. An increase of 863% from the average daily volume of 814,169 shares. The stock had previously closed at $3.41.

The newly announced dividend which will be paid on Tuesday, July 14th. Stockholders of record on Monday, June 15th will be issued a $0.43 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 29.91%. TPG RE Finance Trust’s payout ratio is presently 97.73%.

A number of research firms recently weighed in on TRTX. Zacks Investment Research raised TPG RE Finance Trust from a “strong sell” rating to a “hold” rating in a report on Friday, January 31st. Compass Point started coverage on TPG RE Finance Trust in a research report on Monday, December 2nd. They issued a “buy” rating and a $21.50 price objective for the company. Finally, Citigroup reduced their price objective on TPG RE Finance Trust from $21.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday.

The company’s 50-day moving average is $16.84 and its 200-day moving average is $19.35. The firm has a market cap of $328.58 million, a price-to-earnings ratio of 3.32 and a beta of 0.41. The company has a debt-to-equity ratio of 2.83, a quick ratio of 343.93 and a current ratio of 343.93.

In related news, VP Peter A. Smith acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average price of $5.63 per share, for a total transaction of $28,150.00. Following the transaction, the vice president now directly owns 120,207 shares of the company’s stock, valued at approximately $676,765.41. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Peter A. Smith acquired 10,000 shares of TPG RE Finance Trust stock in a transaction on Monday, March 16th. The shares were purchased at an average cost of $11.51 per share, for a total transaction of $115,100.00. Following the acquisition, the vice president now owns 115,207 shares in the company, valued at approximately $1,326,032.57. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 15,500 shares of company stock worth $145,755. Insiders own 0.78% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ieq Capital LLC bought a new stake in shares of TPG RE Finance Trust during the fourth quarter worth approximately $4,616,000. Evoke Wealth LLC acquired a new stake in TPG RE Finance Trust during the 3rd quarter worth $39,791,000. UBS Group AG raised its position in shares of TPG RE Finance Trust by 53.7% during the 4th quarter. UBS Group AG now owns 1,110,634 shares of the company’s stock valued at $22,513,000 after acquiring an additional 388,234 shares during the last quarter. Colony Capital Inc. bought a new stake in shares of TPG RE Finance Trust during the 4th quarter valued at $3,953,000. Finally, Orinda Asset Management LLC acquired a new position in shares of TPG RE Finance Trust in the 4th quarter valued at $3,345,000. 59.34% of the stock is owned by institutional investors.

About TPG RE Finance Trust (NYSE:TRTX)

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 North America. It invests in commercial mortgage loans; and subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments secured by properties primarily in the office, mixed use, multifamily, industrial, retail, and hospitality real estate sectors.

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