National Bank Financial downgraded shares of Timbercreek Financial (TSE:TF) from an outperform rating to a sector perform rating in a report released on Tuesday, BayStreet.CA reports. The brokerage currently has C$7.00 price objective on the stock, down from their previous price objective of C$10.00.
TF has been the subject of several other research reports. Raymond James cut their price objective on shares of Timbercreek Financial from C$9.50 to C$8.00 and set a market perform rating for the company in a research report on Wednesday, March 18th. Fundamental Research reaffirmed a buy rating and set a C$10.30 price objective on shares of Timbercreek Financial in a research report on Tuesday, December 3rd. Finally, TD Securities cut their price objective on shares of Timbercreek Financial from C$10.00 to C$9.00 and set a hold rating for the company in a research report on Thursday, March 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of C$8.58.
TF opened at C$7.06 on Tuesday. Timbercreek Financial has a twelve month low of C$5.91 and a twelve month high of C$10.31. The company has a 50-day simple moving average of C$9.28 and a 200 day simple moving average of C$9.67. The company has a quick ratio of 50.25, a current ratio of 50.58 and a debt-to-equity ratio of 134.41. The stock has a market capitalization of $645.94 million and a price-to-earnings ratio of 10.41.
The business also recently announced a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, March 13th were issued a $0.0575 dividend. The ex-dividend date was Thursday, February 27th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 9.77%. Timbercreek Financial’s dividend payout ratio (DPR) is currently 93.29%.
About Timbercreek Financial
Timbercreek Financial Corporation, a mortgage investment company, provides shorter-duration structured financing solutions to commercial real estate investors in Canada. It focuses on lending against income-producing commercial real estate properties, such as multi-residential, office, and retail buildings located in urban markets.
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