Royal Bank of Canada set a C$7.75 price target on True North Commercial REIT (TSE:TNT.UN – Get Rating) in a report released on Friday, BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.
Several other equities analysts have also recently issued reports on the stock. Raymond James set a C$7.75 price objective on shares of True North Commercial REIT and gave the company a market perform rating in a research note on Thursday, March 3rd. CIBC lowered their price target on shares of True North Commercial REIT from C$7.75 to C$7.00 and set a neutral rating on the stock in a research note on Friday. Finally, National Bankshares lowered their price target on shares of True North Commercial REIT from C$7.50 to C$7.00 in a research note on Wednesday, April 27th.
TNT.UN traded down C$0.10 during trading on Friday, hitting C$6.45. The stock had a trading volume of 294,864 shares, compared to its average volume of 257,001. The company has a debt-to-equity ratio of 156.27, a quick ratio of 0.05 and a current ratio of 0.07. The firm has a market capitalization of C$572.23 million and a P/E ratio of 11.22. The company’s 50-day moving average price is C$7.02 and its 200 day moving average price is C$7.23. True North Commercial REIT has a twelve month low of C$6.41 and a twelve month high of C$7.68.
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 46 commercial properties consisting of approximately 3.7 million square feet in urban and select strategic secondary markets across Canada focusing on long term leases with government and credit-rated tenants.
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