Intact Investment Management Inc. Has $11.72 Million Stock Position in Tricon Residential Inc. (NYSE:TCN)

Intact Investment Management Inc. lifted its position in shares of Tricon Residential Inc. (NYSE:TCN) by 42.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,287,307 shares of the company’s stock after buying an additional 384,500 shares during the quarter. Intact Investment Management Inc. owned about 0.47% of Tricon Residential worth $11,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Tricon Residential in the third quarter worth $192,000. NewEdge Wealth LLC grew its position in Tricon Residential by 12.5% in the fourth quarter. NewEdge Wealth LLC now owns 22,514 shares of the company’s stock valued at $205,000 after acquiring an additional 2,500 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Tricon Residential by 11.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 32,548 shares of the company’s stock valued at $241,000 after acquiring an additional 3,284 shares during the last quarter. Bailard Inc. grew its position in Tricon Residential by 166.7% in the fourth quarter. Bailard Inc. now owns 28,800 shares of the company’s stock valued at $262,000 after acquiring an additional 18,000 shares during the last quarter. Finally, Versor Investments LP bought a new position in Tricon Residential in the third quarter valued at about $502,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TCN shares. CIBC cut Tricon Residential from an “outperform” rating to a “tender” rating and boosted their price target for the stock from $10.00 to $11.25 in a report on Monday, January 22nd. BMO Capital Markets lowered Tricon Residential from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Keefe, Bruyette & Woods boosted their price target on Tricon Residential from $9.50 to $11.25 and gave the company a “market perform” rating in a research note on Monday, January 22nd. Wolfe Research lowered Tricon Residential from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 1st. Finally, TD Securities lowered Tricon Residential from a “buy” rating to a “tender” rating and boosted their price target for the company from $10.50 to $11.25 in a research note on Monday, January 22nd. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Tricon Residential has a consensus rating of “Hold” and an average target price of $10.47.

Tricon Residential Stock Up 0.1 %

Shares of NYSE TCN traded up $0.01 during midday trading on Friday, hitting $11.23. 23,703,230 shares of the stock traded hands, compared to its average volume of 8,903,803. The company has a market cap of $3.33 billion, a PE ratio of 38.74 and a beta of 1.43. Tricon Residential Inc. has a one year low of $6.53 and a one year high of $11.24. The business has a 50 day moving average price of $11.12 and a two-hundred day moving average price of $9.52. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.49 and a current ratio of 0.49.

Tricon Residential (NYSE:TCN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.28). Tricon Residential had a return on equity of 3.12% and a net margin of 19.97%. The company had revenue of $226.41 million for the quarter, compared to the consensus estimate of $130.17 million. On average, equities analysts predict that Tricon Residential Inc. will post 0.61 EPS for the current year.

Tricon Residential Profile

Tricon Residential Inc (NYSE: TCN, TSX: TCN) is an owner, operator and developer of a growing portfolio of approximately 38,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Toronto, Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.