TPG RE Finance Trust Inc (NYSE:TRTX) announced a quarterly dividend on Tuesday, September 15th, Zacks reports. Shareholders of record on Friday, September 25th will be given a dividend of 0.20 per share on Friday, October 23rd. This represents a $0.80 annualized dividend and a yield of 9.22%. The ex-dividend date is Thursday, September 24th.
TPG RE Finance Trust has a payout ratio of -58.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect TPG RE Finance Trust to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 74.8%.
TPG RE Finance Trust stock opened at $8.68 on Wednesday. TPG RE Finance Trust has a twelve month low of $2.45 and a twelve month high of $21.30. The firm has a 50 day moving average price of $8.91 and a 200-day moving average price of $8.29. The company has a market capitalization of $666.24 million, a P/E ratio of -5.26 and a beta of 1.85. The company has a quick ratio of 241.68, a current ratio of 241.68 and a debt-to-equity ratio of 2.89.
Several research analysts recently commented on TRTX shares. ValuEngine downgraded shares of TPG RE Finance Trust from a “strong-buy” rating to a “buy” rating in a report on Monday, August 3rd. Raymond James reaffirmed a “buy” rating on shares of TPG RE Finance Trust in a report on Thursday, August 6th. Citigroup increased their target price on shares of TPG RE Finance Trust from $6.00 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Zacks Investment Research cut shares of TPG RE Finance Trust from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $11.50.
In other news, major shareholder Group Holdings (Sbs) Advis Tpg bought 184,421 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $8.82 per share, for a total transaction of $1,626,593.22. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired a total of 372,652 shares of company stock worth $3,316,048 over the last 90 days. 1.40% of the stock is owned by company insiders.
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 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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