TPG RE Finance Trust, Inc. (NYSE: TRTX) expects quarterly dividend of $0.24
TPG RE Finance Trust, Inc. (NYSE: TRTX- Get a rating) announced a quarterly dividend on Monday, September 12, Zacks reports. Shareholders of record on Wednesday, September 28 will receive a dividend of 0.24 per share on Tuesday, October 25. This represents a dividend of $0.96 on an annualized basis and a dividend yield of 11.55%. The ex-dividend date is Tuesday, September 27.
TPG RE Finance Trust has decreased its dividend payout by an average of 17.8% per year over the past three years and has increased its dividend each year for the past 1 consecutive years. TPG RE Finance Trust has a payout ratio of 73.8%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect TPG RE Finance Trust to earn $1.13 per share next year, meaning the company should continue to be able to cover its $0.96 annual dividend with a expected future payout ratio of 85.0%.
TPG RE Finance Trust trades down 3.7%
Shares of TPG RE Finance Trust opened at $8.31 on Friday. TPG RE Finance Trust has a fifty-two week minimum of $8.20 and a fifty-two week maximum of $13.63. The company has a debt 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, a price-earnings ratio of 8.57 and a beta of 1.77. The stock has a 50-day moving average of $9.71 and a 200-day moving average of $10.29.
Institutional negotiation of TPG RE Finance Trust
Institutional investors and hedge funds have recently increased or reduced their stake in the company. Raymond James & Associates increased its position in TPG RE Finance Trust by 61.9% in the 1st quarter. Raymond James & Associates now owns 71,955 shares of the company valued at $850,000 after acquiring an additional 27,501 shares last quarter. Acadian Asset Management LLC acquired a new equity position in TPG RE Finance Trust in the first quarter worth approximately $53,000. MetLife Investment Management LLC increased its stake in TPG RE Finance Trust by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 32,389 shares of the company worth $383,000 after purchasing an additional 11,549 shares during the period. Allianz Asset Management GmbH acquired a new stake in TPG RE Finance Trust during the 1st quarter for a value of approximately $4,095,000. Finally, Dakota Wealth Management bought a new position in TPG RE Finance Trust in Q1 worth approximately $341,000. Hedge funds and other institutional investors own 57.36% of the company’s shares.
Wall Street analysts predict growth
Separately, JMP Securities cut its price target on TPG RE Finance Trust from $14.50 to $13.00 and set a “market outperformance” rating for the company in a Friday, July 1 research report.
About TPG RE Finance Trust
TPG RE Finance Trust, Inc., a commercial real estate finance company, originates, acquires and manages commercial mortgages and other commercial real estate related debt securities in the United States. It invests in commercial mortgages; subordinated mortgage interest, mezzanine loans, secured real estate securities, note financing, preferred stock and various debt instruments; and loan obligations secured by commercial real estate and commercial mortgage-backed securities secured by properties primarily in the office, multi-family, life science, mixed-use, hotel, industrial real estate sectors and commercial.
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