Tricon Residential (NYSE:TCN) Price Target Raised to C$23.00 at BMO Capital Markets

Tricon Residential (NYSE:TCNGet Rating) had its target price raised by BMO Capital Markets from C$22.50 to C$23.00 in a research note released on Thursday, The Fly reports.

TCN has been the subject of a number of other research reports. Zacks Investment Research upgraded Tricon Residential from a hold rating to a buy rating and set a $17.00 price target for the company in a report on Tuesday, March 8th. Royal Bank of Canada boosted their price objective on shares of Tricon Residential from $17.00 to $18.00 and gave the stock an outperform rating in a research note on Friday, March 4th. Raymond James started coverage on shares of Tricon Residential in a research note on Monday, March 28th. They issued an outperform rating and a $18.50 price objective for the company. Finally, TD Securities downgraded shares of Tricon Residential from a buy rating to a hold rating and boosted their price objective for the stock from $17.00 to $18.00 in a research note on Thursday, March 31st. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Buy and an average target price of $18.45.

Shares of NYSE TCN opened at $15.26 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average price of $15.47 and a 200 day moving average price of $14.74. Tricon Residential has a 52-week low of $5.49 and a 52-week high of $17.23.

Tricon Residential (NYSE:TCNGet Rating) last announced its quarterly earnings results on Wednesday, March 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.34. The firm had revenue of $123.37 million during the quarter. Research analysts predict that Tricon Residential will post 0.63 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 15th. Stockholders of record on Thursday, March 31st will be given a dividend of $0.058 per share. The ex-dividend date is Wednesday, March 30th. This is an increase 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 1.52%.

Hedge funds have recently modified their holdings of the company. National Bank of Canada FI acquired a new position in shares of Tricon Residential during the fourth quarter worth $14,689,000. Baker Ellis Asset Management LLC acquired a new position in shares of Tricon Residential in the 4th quarter valued at $359,000. Russell Investments Group Ltd. acquired a new position in shares of Tricon Residential in the 4th quarter valued at $38,174,000. Van ECK Associates Corp acquired a new position in shares of Tricon Residential in the 4th quarter valued at $290,000. Finally, Beck Mack & Oliver LLC increased its position in shares of Tricon Residential by 23.6% in the 4th quarter. Beck Mack & Oliver LLC now owns 349,641 shares of the company’s stock valued at $5,343,000 after acquiring an additional 66,700 shares during the period. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Tricon Residential Company Profile (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.

Further Reading

The Fly logo

Analyst Recommendations for Tricon Residential (NYSE:TCN)

Receive News & Ratings for Tricon Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tricon Residential and related companies with MarketBeat.com's FREE daily email newsletter.