Wolfe Research Begins Coverage on Tricon Residential (NYSE:TCN)

Wolfe Research initiated coverage on shares of Tricon Residential (NYSE:TCNGet Rating) in a research report report published on Tuesday morning, The Fly reports. The firm issued a market perform rating on the stock.

A number of other research analysts also recently weighed in on the stock. National Bank Financial lowered their price objective on shares of Tricon Residential from C$18.00 to C$15.00 in a research report on Monday, October 24th. Royal Bank of Canada lowered their price objective on shares of Tricon Residential from $12.00 to $11.00 and set an outperform rating on the stock in a research report on Monday, November 14th. Citigroup upgraded shares of Tricon Residential from a neutral rating to a buy rating and set a $12.50 price target on the stock in a research report on Monday, September 19th. The Goldman Sachs Group decreased their price target on shares of Tricon Residential from $14.75 to $11.00 and set a buy rating on the stock in a research report on Tuesday, October 18th. Finally, Morgan Stanley increased their price target on shares of Tricon Residential from $11.75 to $12.75 and gave the stock an equal weight rating in a research report on Thursday, August 25th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $13.64.

Tricon Residential Stock Up 1.4 %

Shares of Tricon Residential stock opened at $8.69 on Tuesday. The company has a market cap of $2.38 billion and a price-to-earnings ratio of 3.65. The company’s 50 day moving average is $8.64 and its 200 day moving average is $10.12. Tricon Residential has a twelve month low of $7.83 and a twelve month high of $17.23. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.38.

Tricon Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Saturday, December 31st will be paid a $0.058 dividend. The ex-dividend date is Thursday, December 29th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.67%. Tricon Residential’s dividend payout ratio (DPR) is presently 9.66%.

Institutional Trading of Tricon Residential

Hedge funds and other institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Tricon Residential in the first quarter worth $39,000. Advisors Asset Management Inc. purchased a new stake in shares of Tricon Residential in the first quarter worth $42,000. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Tricon Residential in the second quarter worth $48,000. Power Corp of Canada purchased a new position in Tricon Residential during the first quarter valued at $59,000. Finally, EverSource Wealth Advisors LLC purchased a new position in Tricon Residential during the second quarter valued at $72,000. 52.89% of the stock is owned by hedge funds and other institutional investors.

Tricon Residential Company Profile

(Get Rating)

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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Analyst Recommendations for Tricon Residential (NYSE:TCN)

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