True North Commercial REIT (TSE:TNT.UN – Get Free Report)’s share price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$7.79 and traded as high as C$7.94. True North Commercial REIT shares last traded at C$7.87, with a volume of 44,597 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group lowered True North Commercial REIT from a “buy” rating to a “hold” rating and set a C$7.50 target price on the stock. in a research note on Monday, October 26th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, True North Commercial REIT presently has an average rating of “Hold” and an average price target of C$8.50.
View Our Latest Report on True North Commercial REIT
True North Commercial REIT Stock Up 7.1%
The company has a market cap of C$110.71 million, a P/E ratio of -4.67 and a beta of 0.35. The company has a debt-to-equity ratio of 175.73, a quick ratio of 0.06 and a current ratio of 0.14. The business’s fifty day moving average is C$7.79 and its two-hundred day moving average is C$8.31.
True North Commercial REIT (TSE:TNT.UN – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported C($0.23) EPS for the quarter. The company had revenue of C$27.85 million during the quarter. True North Commercial REIT had a negative return on equity of 10.66% and a negative net margin of 38.96%.
True North Commercial REIT Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.0575 per share. This represents a $0.69 annualized dividend and a dividend yield of 8.8%. The ex-dividend date of this dividend is Friday, October 30th. True North Commercial REIT’s payout ratio is currently -40.92%.
About True North Commercial REIT
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 37 properties consisting of approximately 4.4 million square feet in urban and select strategic secondary markets across Canada. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist.
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