TPG RE Finance Trust Co., Ltd. (NYSE:TRTX – Get Rating) announced its quarterly dividend on Monday, Sept. 12, reports Zacks. Shareholders of record on Wednesday, September 28 will be paid a dividend of 0.24 per share on Tuesday, October 25. This represents his $0.96 dividend and his 11.55% dividend yield on an annual basis. The ex-dividend date is Tuesday, September 27.
TPG RE Finance Trust has reduced its annual dividend payout by an average of 17.8% over the past three years and has increased its annual dividend for the past one year in a row. TPG RE Finance Trust’s dividend payout ratio is 73.8%, and the dividend is fully covered by profits. Research analysts expect TPG RE Finance Trust to earn $1.13 per share next year. This means the company could cover an annual dividend of $0.96 with an expected future dividend payout ratio of 85.0%.
TPG RE Finance Trust Trading down 3.7%
Shares of TPG RE Finance Trust opened at $8.31 on Friday. TPG RE Finance Trust hit a 52-week low of $8.20 and a 52-week high of $13.63. The company has a debt to equity ratio of 2.62, a quick ratio of 244.91 and a current ratio of 244.91. The company has a market capitalization of $641.45 million, an 8.57 price/earnings ratio, and a 1.77 beta. The stock has a 50-day moving average of $9.71 and a 200-day moving average of $10.29.
TPG RE Finance Trust Institutional Investor Transaction
Institutional investors and hedge funds have recently increased or decreased their stake in the company. Raymond James & Associates expanded his position at TPG RE Finance Trust by 61.9% in the first quarter. Raymond James & Associates now owns 71,955 shares of the company worth $850,000 after acquiring an additional 27,501 shares in the previous quarter. Acadian Asset Management LLC acquired a new position in his TPG RE Finance Trust shares in the first quarter for approximately $53,000. MetLife Investment Management LLC increased its stake in TPG RE Finance Trust by 55.4% in the first quarter. MetLife Investment Management LLC now owns 32,389 shares of the company worth $383,000 after he purchased an additional 11,549 shares during this period. Allianz Asset Management GmbH acquired a new stake in his TPG RE Finance Trust for approximately $4,095,000 in the first quarter. Finally, Dakota Wealth Management purchased a new position in his TPG RE Finance Trust in the first quarter for approximately $341,000. Hedge funds and other institutional investors own 57.36% of the company’s shares.
Wall Street Analyst Predicts Growth
Separately, JMP Securities lowered TPG RE Finance Trust’s price target from $14.50 to $13.00, setting the company’s “above the market” rating in its research report on Friday, July 1.
About TPG RE Finance Trust
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TPG RE Finance Trust, Inc is a commercial real estate finance company that originates, acquires and manages commercial real estate loans and other commercial real estate-related indebtedness in the United States. Investing in commercial mortgages. Subordinated mortgages, mezzanine loans, mortgage-backed securities, note financing, preferred stock, and other indebtedness. Commercial real estate secured loan obligations and commercial mortgage-backed securities primarily secured by properties in the office, multifamily, life sciences, mixed-use, hospitality, industrial and retail real estate sectors.
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