Tricon Residential Inc. (TSE:TCN) Expected to Earn Q3 2022 Earnings of $0.21 Per Share

Tricon Residential Inc. (TSE:TCN – Get Rating) – Investment analysts at Raymond James lifted their Q3 2022 EPS estimates for shares of Tricon Residential in a note issued to investors on Wednesday, May 18th. Raymond James analyst B. Sturges now anticipates that the company will earn $0.21 per share for the quarter, up from their prior estimate of $0.20. Raymond James has a “Buy” rating and a $18.50 price target on the stock. Raymond James also issued estimates for Tricon Residential’s Q4 2022 earnings at $0.21 EPS, FY2022 earnings at $0.79 EPS, Q1 2023 earnings at $0.22 EPS, Q2 2023 earnings at $0.23 EPS and FY2023 earnings at $0.92 EPS.

Other analysts have also issued reports about the stock. CIBC increased their price target on shares of Tricon Residential from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research report on Friday, March 4th. BMO Capital Markets boosted their price objective on shares of Tricon Residential from C$22.50 to C$23.00 in a research note on Thursday, April 14th. Finally, TD Securities downgraded shares of Tricon Residential to a “hold” rating and set a C$18.00 target price for the company. in a research note on Thursday, March 31st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$18.44.

Shares of TCN stock opened at C$16.04 on Thursday. The stock’s 50-day moving average is C$19.04 and its 200 day moving average is C$18.75. Tricon Residential has a 1-year low of C$12.63 and a 1-year high of C$21.58. The company has a debt-to-equity ratio of 137.36, a current ratio of 0.58 and a quick ratio of 0.51. The company has a market cap of C$4.38 billion and a P/E ratio of 6.19.

Tricon Residential (TSE:TCN – Get Rating) last posted its earnings results on Wednesday, March 2nd. The company reported C$0.60 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.17 by C$0.43. The company had revenue of C$155.54 million for the quarter.

In related news, Director John Michael Arthur Knowlton sold 14,757 shares of the company’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of C$15.61, for a total value of C$230,299.22. Following the transaction, the director now directly owns 14,000 shares of the company’s stock, valued at approximately C$218,485.40.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.075 per share. This is a positive change from Tricon Residential’s previous quarterly dividend of $0.07. The ex-dividend date is Wednesday, June 29th. This represents a $0.30 dividend on an annualized basis and a yield of 1.87%. Tricon Residential’s dividend payout ratio is presently 8.77%.

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.

Featured Stories