Tricon Residential Inc. (TSE:TCN – Get Rating) has received an average rating of “Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$18.44.
A number of research firms have recently issued reports on TCN. BMO Capital Markets raised their price target on Tricon Residential from C$22.50 to C$23.00 in a research note on Thursday, April 14th. CIBC raised their price target on Tricon Residential from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Friday, March 4th. TD Securities downgraded Tricon Residential to a “hold” rating and set a C$18.00 price target on the stock. in a research note on Thursday, March 31st. Finally, Raymond James initiated coverage on Tricon Residential in a research report on Monday, March 28th. They set a “buy” rating and a C$18.50 target price on the stock.
Shares of TCN opened at C$19.15 on Friday. The company has a market cap of C$5.21 billion and a price-to-earnings ratio of 7.57. Tricon Residential has a 12 month low of C$12.63 and a 12 month high of C$21.58. The company has a current ratio of 0.58, a quick ratio of 0.51 and a debt-to-equity ratio of 137.36. The business’s fifty day simple moving average is C$19.57 and its two-hundred day simple moving average is C$18.63.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were issued a dividend of $0.074 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This is a boost from Tricon Residential’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a yield of 1.55%. Tricon Residential’s dividend payout ratio (DPR) is currently 8.88%.
In other news, Director John Michael Arthur Knowlton sold 14,757 shares of Tricon Residential stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of C$15.61, for a total value of C$230,299.22. Following the sale, the director now directly owns 14,000 shares of the company’s stock, valued at C$218,485.40.
About Tricon Residential (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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