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.
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.
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