Tricon Residential (NYSE:TCN – Get Rating) had its price objective dropped by Morgan Stanley from $15.75 to $13.50 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 10.75% from the stock’s current price.
TCN has been the topic of a number of other research reports. Zacks Investment Research upgraded Tricon Residential from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, March 8th. BMO Capital Markets upped their price target on Tricon Residential from C$22.50 to C$23.00 in a research report on Thursday, April 14th. Royal Bank of Canada reduced their price target on Tricon Residential from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, May 12th. TD Securities upgraded Tricon Residential from a “hold” rating to a “buy” rating and cut their target price for the company from $18.00 to $17.00 in a research report on Thursday, May 12th. Finally, Raymond James dropped their price target on Tricon Residential from C$18.50 to C$17.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 18th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $17.88.
TCN stock traded up $0.11 during midday trading on Friday, reaching $12.19. 5,702 shares of the stock were exchanged, compared to its average volume of 798,825. Tricon Residential has a 52 week low of $8.49 and a 52 week high of $17.23. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.29. The company has a fifty day moving average price of $14.56 and a 200 day moving average price of $14.69.
Institutional investors and hedge funds have recently modified their holdings of the stock. National Bank of Canada FI purchased a new stake in shares of Tricon Residential during the fourth quarter valued at approximately $14,689,000. Baker Ellis Asset Management LLC bought a new position in Tricon Residential during the fourth quarter valued at $359,000. Shell Asset Management Co. bought a new position in Tricon Residential during the fourth quarter valued at $411,000. Pembroke Management LTD bought a new position in Tricon Residential during the fourth quarter valued at $27,961,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Tricon Residential during the fourth quarter valued at $835,000. 49.96% of the stock is owned by institutional investors.
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.
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