True North Commercial REIT (TSE:TNT.UN) to Issue Monthly Dividend of $0.06

True North Commercial REIT (TSE:TNT.UN) announced a monthly dividend on Wednesday, April 30th, TickerTech Dividends reports. Stockholders of record on Thursday, May 15th will be given a dividend of 0.0575 per share on Thursday, May 15th. This represents a $0.69 annualized dividend and a dividend yield of 7.31%. The ex-dividend date of this dividend is Wednesday, April 30th. This is a 131.9% increase from True North Commercial REIT’s previous monthly dividend of $0.02.

True North Commercial REIT Stock Performance

TNT.UN opened at C$9.44 on Monday. The company’s 50 day moving average is C$9.06 and its 200 day moving average is C$10.14. The company has a current ratio of 0.14, a quick ratio of 0.06 and a debt-to-equity ratio of 175.73. The company has a market cap of C$136.50 million, a price-to-earnings ratio of -2.91 and a beta of 1.57. True North Commercial REIT has a 12-month low of C$7.77 and a 12-month high of C$14.05.

Analyst Ratings Changes

Separately, Canaccord Genuity Group cut their price target on True North Commercial REIT from C$12.00 to C$11.00 and set a “hold” rating for the company in a report on Thursday, March 20th.

True North Commercial REIT Company Profile

True North Commercial REIT is a Canadian-based open-ended Real estate investment trust company. It owns and acquires Canadian commercial real estate properties. Its objective is to maximize total returns to unitholders. Returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties.