Tricon Residential Inc. (NYSE:TCN) to Post Q1 2022 Earnings of $0.15 Per Share, National Bank Financial Forecasts

Tricon Residential Inc. (NYSE:TCNGet Rating) – Analysts at National Bank Financial issued their Q1 2022 earnings per share (EPS) estimates for Tricon Residential in a research note issued to investors on Tuesday, April 26th. National Bank Financial analyst T. Woolley expects that the company will earn $0.15 per share for the quarter.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada upped their price target on shares of Tricon Residential from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, March 4th. Raymond James began 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 for the company. TD Securities downgraded Tricon Residential from a “buy” rating to a “hold” rating and increased their price target 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. Zacks Investment Research upgraded 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. Finally, BMO Capital Markets raised their price target on Tricon Residential from C$22.50 to C$23.00 in a research report on Thursday, April 14th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Tricon Residential currently has a consensus rating of “Buy” and a consensus target price of $18.45.

NYSE:TCN opened at $15.03 on Friday. Tricon Residential has a 12-month low of $5.49 and a 12-month high of $17.23. The stock’s 50 day moving average price is $15.51 and its two-hundred day moving average price is $14.87. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.58 and a current ratio of 0.58.

Tricon Residential (NYSE:TCNGet Rating) last released its quarterly earnings data on Wednesday, March 2nd. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.34. The firm had revenue of $123.37 million for the quarter.

A number of hedge funds have recently made changes to their positions in TCN. Hillsdale Investment Management Inc. acquired a new stake in shares of Tricon Residential during the first quarter worth $5,584,000. Pendal Group Ltd grew its holdings in Tricon Residential by 1.3% during the 1st quarter. Pendal Group Ltd now owns 145,600 shares of the company’s stock worth $2,315,000 after acquiring an additional 1,800 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of Tricon Residential in the 1st quarter worth about $2,541,000. Walleye Capital LLC acquired a new position in shares of Tricon Residential in the 4th quarter valued at about $220,000. Finally, Barclays PLC bought a new stake in shares of Tricon Residential during the 4th quarter valued at about $496,000. Institutional investors and hedge funds own 13.40% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were given a dividend of $0.058 per share. This is a positive change from Tricon Residential’s previous quarterly dividend of $0.06. This represents a $0.23 annualized dividend and a yield of 1.54%. The ex-dividend date was Wednesday, March 30th.

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.

Further Reading

Earnings History and Estimates for Tricon Residential (NYSE:TCN)

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