Shares of Tricon Residential Inc. (TSE:TCN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$11.98 and traded as high as C$13.37. Tricon Residential shares last traded at C$13.25, with a volume of 303,522 shares.
TCN has been the topic of several research analyst reports. CIBC lifted their price objective on Tricon Residential from C$13.50 to C$14.50 and gave the stock an “outperform” rating in a report on Friday, March 5th. Royal Bank of Canada lifted their price objective on Tricon Residential from C$14.00 to C$14.50 and gave the stock an “outperform” rating in a report on Monday, March 8th. BMO Capital Markets raised their target price on shares of Tricon Residential from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Friday, March 5th. Scotiabank raised their target price on shares of Tricon Residential from C$14.00 to C$15.00 in a research note on Monday, March 8th. Finally, TD Securities reissued a “buy” rating and issued a C$14.50 target price (up from C$13.50) on shares of Tricon Residential in a research note on Friday, March 5th. Six investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of C$13.82.
The stock has a market cap of C$2.56 billion and a PE ratio of 18.58. The company has a debt-to-equity ratio of 261.67, a quick ratio of 0.19 and a current ratio of 0.22. The company’s 50-day moving average price is C$12.88 and its 200 day moving average price is C$11.98.
Tricon Residential (TSE:TCN) last released its quarterly earnings results on Wednesday, March 3rd. The company reported C$0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.14 by C($0.03). The firm had revenue of C$172.47 million for the quarter. As a group, equities research analysts predict that Tricon Residential Inc. will post 1.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Thursday, April 15th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Tuesday, March 30th. Tricon Residential’s payout ratio is presently 29.14%.
Tricon Residential Company Profile (TSE:TCN)
Founded in 1988, Tricon is a rental housing company focused on serving the middle-market demographic. Tricon owns and operates approximately 31,000 single-family rental homes and multi-family rental units in 21 markets across the United States and Canada, managed with an integrated technology-enabled operating platform.
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