Tricon Residential (NYSE:TCN – Get 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.
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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