Tricon Residential Inc. (TSE:TCN) Receives Consensus Rating of “Buy” from Analysts

Tricon Residential Inc. (TSE:TCNGet Rating) has been assigned a consensus rating of “Buy” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$18.44.

A number of equities analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Tricon Residential from C$22.50 to C$23.00 in a research report on Thursday. CIBC upped their target price on shares of Tricon Residential from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Friday, March 4th. Raymond James began coverage on shares of Tricon Residential in a research report on Monday, March 28th. They set a “buy” rating and a C$18.50 target price for the company. Finally, TD Securities downgraded shares of 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.

TCN opened at C$19.27 on Friday. The firm has a market cap of C$5.24 billion and a P/E ratio of 7.69. Tricon Residential has a 1-year low of C$12.56 and a 1-year high of C$21.58. The company has a 50 day simple moving average of C$19.58 and a two-hundred day simple moving average of C$18.60. The company has a debt-to-equity ratio of 137.36, a current ratio of 0.58 and a quick ratio of 0.51.

Tricon Residential (TSE:TCNGet Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The company reported C$0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.17 by C$0.43. The firm had revenue of C$155.54 million during the quarter. Equities analysts anticipate that Tricon Residential will post 0.7611674 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were paid a $0.074 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.30 annualized dividend and a dividend yield of 1.54%. This is an increase from Tricon Residential’s previous quarterly dividend of $0.07. Tricon Residential’s dividend payout ratio is currently 8.97%.

In other news, Director John Michael Arthur Knowlton sold 14,757 shares of the company’s stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of C$15.61, for a total value of C$230,299.22. Following the transaction, the director now directly owns 14,000 shares in the company, 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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Analyst Recommendations for Tricon Residential (TSE:TCN)

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