Shares of Tricon Residential Inc (NYSE:TCN – Get Rating) have been given a consensus recommendation of “Buy” by the ten analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.15.
A number of research firms have weighed in on TCN. Royal Bank of Canada increased their target price on Tricon Residential from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, March 4th. Zacks Investment Research upgraded shares of Tricon Residential from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Tuesday, March 8th. TD Securities lowered shares of Tricon Residential from a “buy” rating to a “hold” rating and boosted their target price for the company from $17.00 to $18.00 in a research report on Thursday, March 31st. They noted that the move was a valuation call. Finally, Raymond James initiated coverage on shares of Tricon Residential in a research report on Monday, March 28th. They issued an “outperform” rating and a $18.50 price target on the stock.
Shares of Tricon Residential stock opened at $15.08 on Friday. Tricon Residential has a twelve month low of $5.49 and a twelve month high of $17.23. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.58 and a current ratio of 0.58. The firm’s 50 day moving average is $15.45.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 15th. Shareholders of record on Thursday, March 31st will be given a $0.058 dividend. This is a positive change from Tricon Residential’s previous quarterly dividend of $0.06. This represents a $0.23 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, March 30th.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in Tricon Residential during the 4th quarter valued at approximately $30,000. ETF Managers Group LLC bought a new position in Tricon Residential in the 4th quarter worth approximately $59,000. Marshall Wace LLP purchased a new stake in Tricon Residential during the 4th quarter valued at approximately $175,000. Mirabella Financial Services LLP bought a new stake in shares of Tricon Residential during the fourth quarter valued at approximately $184,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Tricon Residential in the fourth quarter worth $190,000. 13.40% of the stock is owned by hedge funds and other institutional investors.
Tricon Residential Company Profile (Get Rating)
Tricon Residential, Inc is a residential real estate investment company. It owns and operates single family rental homes and multi-family rental apartments in the United States and Canada. It operates through the five reportable segments: Single Family Rental Business,Multi Family Rental Business, Residential Development Business, Private Funds and Advisory Business and Corporate Activities.
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