JPMorgan Chase & Co. Upgrades TPG RE Finance Trust (NYSE:TRTX) to Overweight

TPG RE Finance Trust (NYSE:TRTX) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Thursday, Briefing.com reports. The brokerage currently has a $9.50 price objective on the stock, up from their prior price objective of $9.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.95% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. JMP Securities lifted their price target on TPG RE Finance Trust from $9.50 to $10.00 and gave the company a “market outperform” rating in a report on Wednesday, August 21st. BTIG Research reaffirmed a “buy” rating and issued a $11.00 price target on shares of TPG RE Finance Trust in a report on Friday, July 19th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, TPG RE Finance Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.08.

TPG RE Finance Trust Stock Up 3.0 %

TRTX opened at $8.64 on Thursday. TPG RE Finance Trust has a fifty-two week low of $4.64 and a fifty-two week high of $9.66. The company has a debt-to-equity ratio of 2.13, a current ratio of 154.59 and a quick ratio of 154.59. The firm’s fifty day moving average price is $8.63 and its two-hundred day moving average price is $8.48. The company has a market capitalization of $699.24 million, a P/E ratio of -23.35, a P/E/G ratio of 0.24 and a beta of 2.19.

Hedge Funds Weigh In On TPG RE Finance Trust

A number of large investors have recently bought and sold shares of the company. Long Pond Capital LP raised its stake in shares of TPG RE Finance Trust by 32.4% during the 2nd quarter. Long Pond Capital LP now owns 2,852,894 shares of the company’s stock worth $24,649,000 after purchasing an additional 697,736 shares in the last quarter. Millennium Management LLC increased its position in TPG RE Finance Trust by 30.3% during the 2nd quarter. Millennium Management LLC now owns 1,174,646 shares of the company’s stock worth $10,149,000 after buying an additional 273,086 shares during the period. Algert Global LLC increased its position in TPG RE Finance Trust by 12.8% during the 2nd quarter. Algert Global LLC now owns 218,846 shares of the company’s stock worth $1,891,000 after buying an additional 24,836 shares during the period. Nokomis Capital L.L.C. bought a new position in TPG RE Finance Trust during the 1st quarter worth $1,437,000. Finally, Los Angeles Capital Management LLC increased its position in TPG RE Finance Trust by 14.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 141,674 shares of the company’s stock worth $1,224,000 after buying an additional 18,337 shares during the period. Institutional investors and hedge funds own 57.12% of the company’s stock.

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 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.