Brokerages Set Tricon Residential Inc. (NYSE:TCN) Price Target at $18.15

Tricon Residential Inc. (NYSE:TCN – Get Rating) has been assigned a consensus rating of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $18.45.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of 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 lifted their price target on shares of Tricon Residential from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, March 4th. BMO Capital Markets lifted their price target on shares of Tricon Residential from C$22.50 to C$23.00 in a research report on Thursday. Raymond James began coverage on shares of Tricon Residential in a research report on Monday, March 28th. They set an “outperform” rating and a $18.50 target price on the stock. Finally, TD Securities cut shares of Tricon Residential from a “buy” rating to a “hold” rating and boosted their target price for the stock from $17.00 to $18.00 in a research report on Thursday, March 31st. They noted that the move was a valuation call.

Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new stake in Tricon Residential during the fourth quarter valued at $30,000. ETF Managers Group LLC acquired a new position in shares of Tricon Residential during the fourth quarter valued at $59,000. Marshall Wace LLP acquired a new position in shares of Tricon Residential during the fourth quarter valued at $175,000. Mirabella Financial Services LLP acquired a new position in shares of Tricon Residential during the fourth quarter valued at $184,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Tricon Residential during the fourth quarter valued at $190,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

NYSE:TCN traded down $0.05 during mid-day trading on Friday, hitting $15.26. 652,507 shares of the company’s stock traded hands, compared to its average volume of 1,121,268. 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 simple moving average is $15.48 and its 200 day simple moving average is $14.75. Tricon Residential has a 1 year low of $5.49 and a 1 year high of $17.23.

Tricon Residential (NYSE:TCN – Get Rating) last posted its earnings results on Wednesday, March 2nd. The company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.34. The business had revenue of $123.37 million for the quarter. As a group, research analysts expect that Tricon Residential will post 0.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were paid a dividend of $0.058 per share. This is a positive change from Tricon Residential’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, March 30th. This represents a $0.23 annualized dividend and a yield of 1.52%.

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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