True North Commercial REIT (TSE:TNT.UN) Releases Quarterly Earnings Results

True North Commercial REIT (TSE:TNT.UN) posted its quarterly earnings data on Tuesday. The company reported C$0.16 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$29.65 million for 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 Stock Down 2.0%

Shares of TSE:TNT.UN traded down C$0.16 during trading hours on Thursday, reaching C$7.71. The stock had a trading volume of 11,433 shares, compared to its average volume of 17,608. True North Commercial REIT has a 1 year low of C$7.22 and a 1 year high of C$9.22. The firm’s 50 day moving average is C$7.79 and its 200-day moving average is C$8.31. 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 stock has a market capitalization of C$108.46 million, a price-to-earnings ratio of -4.57 and a beta of 0.35.

True North Commercial REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.0575 per share. This represents a $0.69 annualized dividend and a yield of 8.9%. The ex-dividend date is Friday, October 30th. True North Commercial REIT’s payout ratio is -40.92%.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group cut True North Commercial REIT from a “buy” rating to a “hold” rating and set a C$7.50 target price for the company. in a research note on Monday, October 26th. One analyst has rated the stock with a Hold rating. According to MarketBeat.com, True North Commercial REIT currently has a consensus rating of “Hold” and a consensus price target of C$8.50.

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.