Tricon Residential (TSE:TCN) Price Target Raised to C$14.00 at The Goldman Sachs Group

Tricon Residential (TSE:TCNGet Rating) had its price objective increased by The Goldman Sachs Group to C$14.00 in a research note issued to investors on Monday morning, Stock Target Advisor reports. The firm currently has a buy rating on the stock.

TCN has been the topic of a number of other research reports. Morgan Stanley cut their target price on shares of Tricon Residential to C$12.75 and set a hold rating on the stock in a research note on Thursday, August 25th. Citigroup upgraded shares of Tricon Residential to a buy rating and set a C$12.50 price objective on the stock in a research note on Monday, September 19th. BMO Capital Markets dropped their price objective on shares of Tricon Residential from C$17.00 to C$14.00 in a research note on Thursday, November 10th. CIBC dropped their price objective on shares of Tricon Residential from C$21.00 to C$18.00 and set an outperform rating on the stock in a research note on Thursday, October 13th. Finally, National Bankshares dropped their price objective on shares of Tricon Residential from C$18.00 to C$15.00 in a research note on Monday, October 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of C$15.34.

Tricon Residential Stock Performance

Shares of Tricon Residential stock opened at C$12.09 on Monday. The firm has a market cap of C$3.31 billion and a PE ratio of 3.15. The firm’s 50-day simple moving average is C$12.21 and its 200-day simple moving average is C$13.69. The company has a debt-to-equity ratio of 157.98, a quick ratio of 0.32 and a current ratio of 0.63. Tricon Residential has a 1 year low of C$10.88 and a 1 year high of C$21.58.

Tricon Residential Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Saturday, December 31st will be given a $0.079 dividend. This is a boost from Tricon Residential’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, December 29th. This represents a $0.32 annualized dividend and a yield of 2.61%. Tricon Residential’s dividend payout ratio is 6.04%.

Insiders Place Their Bets

In other news, Director David Berman bought 33,000 shares of the firm’s stock in a transaction on Friday, October 14th. The stock was purchased at an average price of C$11.50 per share, for a total transaction of C$379,500.00. Following the transaction, the director now owns 855,500 shares in the company, valued at C$9,838,250.

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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