Tricon Residential (NYSE:TCN) Hits New 1-Year High at $11.20

Tricon Residential Inc. (NYSE:TCNGet Free Report)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $11.20 and last traded at $11.19, with a volume of 1127517 shares trading hands. The stock had previously closed at $11.15.

Analyst Ratings Changes

Several brokerages recently commented on TCN. Keefe, Bruyette & Woods upped their price target on shares of Tricon Residential from $9.50 to $11.25 and gave the company a “market perform” rating in a research report on Monday, January 22nd. Citigroup restated a “neutral” rating and set a $11.25 price target (up previously from $10.50) on shares of Tricon Residential in a report on Monday, January 22nd. CIBC downgraded shares of Tricon Residential from an “outperform” rating to a “tender” rating and raised their price target for the company from $10.00 to $11.25 in a report on Monday, January 22nd. Wolfe Research downgraded shares of Tricon Residential from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 1st. Finally, TD Securities lowered shares of Tricon Residential from a “buy” rating to a “tender” rating and raised their target price for the company from $10.50 to $11.25 in a research note on Monday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.47.

Check Out Our Latest Report on TCN

Tricon Residential Stock Performance

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.41. The company’s fifty day simple moving average is $11.10 and its 200 day simple moving average is $9.10. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 38.48 and a beta of 1.43.

Tricon Residential (NYSE:TCNGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). The firm had revenue of $226.41 million for the quarter, compared to analyst estimates of $130.17 million. Tricon Residential had a return on equity of 3.12% and a net margin of 19.97%. On average, equities research analysts expect that Tricon Residential Inc. will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Tricon Residential by 24.2% during the 4th quarter. Wellington Management Group LLP now owns 5,027,581 shares of the company’s stock worth $45,754,000 after buying an additional 981,023 shares during the period. Abel Hall LLC bought a new position in Tricon Residential during the 4th quarter valued at $91,000. Heathbridge Capital Management Ltd. bought a new stake in shares of Tricon Residential during the 4th quarter worth $2,220,000. Voloridge Investment Management LLC bought a new stake in shares of Tricon Residential during the 4th quarter worth $705,000. Finally, Nuveen Asset Management LLC bought a new stake in shares of Tricon Residential during the 4th quarter worth $1,923,000. Institutional investors own 62.28% of the company’s stock.

About Tricon Residential

(Get Free Report)

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.

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