TPG RE Finance Trust, Inc. (NYSE:TRTX) Position Reduced by Mirae Asset Global Investments Co. Ltd.
Mirae Asset Global Investments Co. Ltd. has significantly reduced its position in TPG RE Finance Trust, Inc. (NYSE:TRTX) by 96.5% in the first quarter, according to recent filings with the Securities and Exchange Commission. The fund sold 826,634 shares, leaving them with 29,673 shares valued at $229,000. This move comes as several other large investors have also made modifications to their holdings in the company.
Vanguard Group Inc. increased its holdings in TPG RE Finance Trust by 0.9% in the third quarter, now owning 5,985,415 shares valued at $40,282,000. SG Americas Securities LLC and Cerity Partners LLC also raised their positions in the company, while Zurcher Kantonalbank Zurich Cantonalbank and Charles Schwab Investment Management Inc. saw growth in their holdings as well.
In related news, major shareholder Starwood Capital Group Global sold 9,352,941 shares of TPG RE Finance Trust at an average price of $8.84, totaling $82,679,998.44. This insider activity represents 2.50% of the company’s stock.
Wall Street analysts have weighed in on the stock, with Raymond James lowering their rating to “outperform” and setting a price target of $8.50. BTIG Research, Wells Fargo & Company, and JPMorgan Chase & Co. have also provided ratings and price targets for TPG RE Finance Trust.
Shares of TPG RE Finance Trust opened at $9.38 on Friday, with a 12-month low of $4.64 and a high of $9.56. The company has a market cap of $752.65 million and a dividend yield of 10.23%.
TPG RE Finance Trust, Inc. is a commercial real estate finance company that invests in commercial mortgage loans and other real estate-related debt instruments in the United States. They focus on various sectors including multifamily, life science, hospitality, and retail real estate.
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