JPMorgan Chase & Co. Has Lowered Expectations for TPG RE Finance Trust (NYSE:TRTX) Stock Price

TPG RE Finance Trust (NYSE:TRTX) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $9.50 to $8.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 1.86% from the company’s current price.

TPG RE Finance Trust Price Performance

NYSE:TRTX opened at $8.35 on Tuesday. The firm has a market cap of $675.36 million, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 0.25 and a beta of 2.17. The stock has a 50 day moving average of $8.74 and a two-hundred day moving average of $8.72. TPG RE Finance Trust has a 12 month low of $5.12 and a 12 month high of $9.66. The company has a current ratio of 152.83, a quick ratio of 152.83 and a debt-to-equity ratio of 2.03.

Institutional Investors Weigh In On TPG RE Finance Trust

A number of hedge funds have recently modified their holdings of TRTX. Long Pond Capital LP grew its stake in 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 valued at $24,649,000 after acquiring an additional 697,736 shares in the last quarter. Citigroup Inc. increased its holdings in shares of TPG RE Finance Trust by 1.3% in the third quarter. Citigroup Inc. now owns 1,901,741 shares of the company’s stock valued at $16,222,000 after purchasing an additional 25,115 shares during the last quarter. Geode Capital Management LLC lifted its position in TPG RE Finance Trust by 6.5% during the third quarter. Geode Capital Management LLC now owns 1,456,883 shares of the company’s stock worth $12,430,000 after buying an additional 88,592 shares in the last quarter. Two Sigma Advisers LP boosted its stake in TPG RE Finance Trust by 162.0% during the third quarter. Two Sigma Advisers LP now owns 1,282,500 shares of the company’s stock worth $10,940,000 after buying an additional 793,000 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in TPG RE Finance Trust by 30.3% during the second 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 last quarter. 57.12% of the stock is currently owned by institutional investors and hedge funds.

TPG RE Finance Trust Company Profile

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.