Timbercreek Financial (OTC:TBCRF) Stock Price Down 8.9%

Timbercreek Financial Corp. (OTC:TBCRFGet Rating) shares fell 8.9% during mid-day trading on Thursday . The stock traded as low as $6.32 and last traded at $6.32. 126 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 602 shares. The stock had previously closed at $6.94.

Several brokerages have issued reports on TBCRF. National Bank Financial cut their price objective on Timbercreek Financial from C$10.00 to C$9.50 in a research report on Tuesday, April 26th. Canaccord Genuity Group cut their price objective on Timbercreek Financial from C$10.25 to C$9.75 and set a “buy” rating for the company in a research report on Wednesday, May 11th. Finally, TD Securities lowered their target price on Timbercreek Financial from C$9.50 to C$9.00 in a research note on Friday, May 13th.

The firm’s fifty day moving average price is $7.12.

About Timbercreek Financial (OTC:TBCRF)

Timbercreek Financial Corp., a mortgage investment company, provides shorter-duration structured financing solutions to commercial real estate investors in Canada. It focuses on lending against income-producing commercial real estate properties, such as multi-residential, office, and retail buildings located in urban markets.

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