Shares of Timbercreek Financial Corp. (TSE:TF – Get Free Report) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$6.41 and traded as low as C$6.10. Timbercreek Financial shares last traded at C$6.14, with a volume of 99,620 shares changing hands.
Analysts Set New Price Targets
Several equities analysts recently commented on TF shares. National Bank Financial reduced their price objective on shares of Timbercreek Financial from C$7.00 to C$6.50 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. TD lowered their target price on shares of Timbercreek Financial from C$7.00 to C$6.50 and set a “hold” rating on the stock in a research note on Friday, July 31st. Raymond James Financial lowered their target price on shares of Timbercreek Financial from C$7.50 to C$7.25 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Finally, Canaccord Genuity Group cut their price target on shares of Timbercreek Financial from C$6.75 to C$6.25 and set a “hold” rating for the company in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Timbercreek Financial presently has an average rating of “Hold” and a consensus target price of C$6.62.
Read Our Latest Stock Analysis on Timbercreek Financial
Timbercreek Financial Stock Down 0.3%
Timbercreek Financial (TSE:TF – Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported C$0.18 EPS for the quarter. Timbercreek Financial had a net margin of 17.14% and a return on equity of 3.85%. The company had revenue of C$45.12 million for the quarter. On average, research analysts anticipate that Timbercreek Financial Corp. will post 0.7300725 EPS for the current fiscal year.
Timbercreek Financial Dividend Announcement
The firm also recently declared a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were given a dividend of $0.0575 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 11.2%. Timbercreek Financial’s dividend payout ratio is presently 222.58%.
About Timbercreek Financial
Timbercreek Financial Corp is a Canada-based non-banking commercial real estate lender. The company provides shorter-duration, customized financing solutions to professional real estate investors. It invests directly in a diversified portfolio of structured mortgage loans primarily secured by stabilized, income-producing commercial real estates, such as multi-residential, office and retail buildings located in urban markets across Canada. The company’s strategy is to preserve investor capital by lending mainly against income producing real estate, mitigate concentration risk by diversifying geographically by asset type and borrower and ensure loan to value ratios.
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