Tricon Residential (TSE:TCN) Raised to Buy at Citigroup

Citigroup upgraded shares of Tricon Residential (TSE:TCNGet Rating) to a buy rating in a report published on Monday, Stock Target Advisor reports. Citigroup currently has C$12.50 target price on the stock.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Tricon Residential to C$12.75 and set a hold rating for the company in a research report on Thursday, August 25th. National Bankshares upped their price objective on shares of Tricon Residential from C$17.00 to C$18.00 and gave the stock an outperform rating in a report on Monday, August 22nd. CIBC increased their target price on shares of Tricon Residential from C$20.50 to C$21.00 and gave the stock an outperform rating in a report on Friday, August 12th. Finally, BMO Capital Markets dropped their price objective on shares of Tricon Residential from C$23.00 to C$19.00 in a research report on Friday, August 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Tricon Residential currently has a consensus rating of Moderate Buy and an average price target of C$17.32.

Tricon Residential Stock Performance

Shares of TCN stock opened at C$13.60 on Monday. The company’s 50 day moving average is C$14.07 and its 200 day moving average is C$15.94. The company has a quick ratio of 0.30, a current ratio of 0.39 and a debt-to-equity ratio of 148.86. Tricon Residential has a 52-week low of C$12.20 and a 52-week high of C$21.58. The firm has a market cap of C$3.71 billion and a price-to-earnings ratio of 3.67.

Tricon Residential Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Friday, September 30th will be issued a $0.074 dividend. This represents a $0.30 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, September 28th. Tricon Residential’s payout ratio is currently 6.17%.

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 Articles

Analyst Recommendations for Tricon Residential (TSE:TCN)

Receive News & Ratings for Tricon Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tricon Residential and related companies with MarketBeat.com's FREE daily email newsletter.