TPG RE Finance Trust: Discount Deepens, Dividend Yield Widens
TPG RE Finance Trust has dipped nearly 40% from its 52-week high to open up a deep discount to its $10.95 book value per share. The mREIT is paying out a 16.62% record dividend yield to its common shareholders, albeit this is currently not covered by distributable earnings. U.S. Treasury rates surging to a more than two-decade high have catalyzed intense volatility in the market for income, with inflation set to form a headwind for mREITs.