Cubist Systematic Strategies LLC Trims Stake in TPG RE Finance Trust, Inc. $TRTX

by · The Cerbat Gem

Cubist Systematic Strategies LLC reduced its position in TPG RE Finance Trust, Inc. (NYSE:TRTX – Free Report) by 35.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 171,297 shares of the company’s stock after selling 94,963 shares during the period. Cubist Systematic Strategies LLC’s holdings in TPG RE Finance Trust were worth $1,396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming lifted its holdings in shares of TPG RE Finance Trust by 2.9% in the 4th quarter. State of Wyoming now owns 48,955 shares of the company’s stock valued at $416,000 after purchasing an additional 1,374 shares during the last quarter. New Age Alpha Advisors LLC lifted its holdings in shares of TPG RE Finance Trust by 38.8% in the 1st quarter. New Age Alpha Advisors LLC now owns 7,009 shares of the company’s stock valued at $57,000 after purchasing an additional 1,959 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of TPG RE Finance Trust by 7.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,101 shares of the company’s stock valued at $290,000 after purchasing an additional 2,478 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of TPG RE Finance Trust by 20.0% in the 1st quarter. Arizona State Retirement System now owns 19,731 shares of the company’s stock valued at $161,000 after purchasing an additional 3,290 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of TPG RE Finance Trust by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 78,716 shares of the company’s stock valued at $670,000 after purchasing an additional 4,007 shares during the last quarter. 57.12% of the stock is owned by hedge funds and other institutional investors.

TPG RE Finance Trust Stock Performance

NYSE TRTX opened at $9.67 on Monday. The company has a current ratio of 193.29, a quick ratio of 193.29 and a debt-to-equity ratio of 2.75. The business’s 50 day moving average is $8.67 and its two-hundred day moving average is $8.14. TPG RE Finance Trust, Inc. has a 12-month low of $6.47 and a 12-month high of $9.85. The stock has a market capitalization of $759.57 million, a price-to-earnings ratio of 14.87, a PEG ratio of 2.60 and a beta of 1.68.

TPG RE Finance Trust declared that its board has initiated a stock buyback program on Thursday, September 4th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

TPG RE Finance Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zacks Research raised TPG RE Finance Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Wall Street Zen upgraded TPG RE Finance Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company boosted their price target on TPG RE Finance Trust from $9.00 to $11.00 and gave the company an “overweight” rating in a research report 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.50.

Check Out Our Latest Report on TPG RE Finance Trust

About TPG RE Finance Trust

(Free Report)

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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