Tricon Residential (NYSE:TCN) Upgraded to Buy at TD Securities

Tricon Residential (NYSE:TCNGet Rating) was upgraded by equities researchers at TD Securities from a “hold” rating to a “buy” rating in a report released on Thursday, The Fly reports. The brokerage currently has a $17.00 target price on the stock, down from their previous target price of $18.00. TD Securities’ price objective points to a potential upside of 42.38% from the stock’s previous close.

A number of other brokerages also recently issued reports on TCN. Royal Bank of Canada raised their price target on shares of Tricon Residential from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, March 4th. BMO Capital Markets lifted their target price on shares of Tricon Residential from C$22.50 to C$23.00 in a report on Thursday, April 14th. Raymond James started coverage on shares of Tricon Residential in a report on Monday, March 28th. They issued an “outperform” rating and a $18.50 target price for the company. Finally, Zacks Investment Research upgraded shares of Tricon Residential from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Tuesday, March 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.35.

TCN traded up $0.04 during trading on Thursday, reaching $11.94. The company’s stock had a trading volume of 9,098 shares, compared to its average volume of 768,431. 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 firm has a fifty day simple moving average of $15.23 and a two-hundred day simple moving average of $14.84. Tricon Residential has a 1 year low of $5.49 and a 1 year high of $17.23.

Tricon Residential (NYSE:TCNGet Rating) last released its earnings results on Wednesday, March 2nd. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.34. The business had revenue of $123.37 million during the quarter. Analysts expect that Tricon Residential will post 0.63 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new stake in shares of Tricon Residential during the 4th quarter worth $30,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Tricon Residential during the 1st quarter worth $39,000. ETF Managers Group LLC purchased a new stake in shares of Tricon Residential during the 4th quarter worth $59,000. Marshall Wace LLP purchased a new stake in Tricon Residential in the fourth quarter valued at $175,000. Finally, Mirabella Financial Services LLP purchased a new stake in Tricon Residential in the fourth quarter valued at $184,000. Institutional investors and hedge funds own 49.96% of the company’s stock.

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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