Tricon Residential Inc. (NYSE:TCN) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in Tricon Residential Inc. (NYSE:TCN – Get Rating) by 88.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,276 shares of the company’s stock after selling 1,224,472 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Tricon Residential worth $1,274,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TCN. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Tricon Residential in the first quarter valued at approximately $39,000. Advisors Asset Management Inc. acquired a new position in shares of Tricon Residential in the first quarter valued at approximately $42,000. Power Corp of Canada acquired a new position in Tricon Residential during the first quarter worth $59,000. Tower Research Capital LLC TRC grew its holdings in Tricon Residential by 90.2% during the third quarter. Tower Research Capital LLC TRC now owns 8,148 shares of the company’s stock worth $72,000 after acquiring an additional 3,865 shares during the period. Finally, Toroso Investments LLC acquired a new position in Tricon Residential during the third quarter worth $111,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

TCN has been the topic of a number of recent analyst reports. TD Securities dropped their price objective on Tricon Residential from $13.00 to $11.50 and set a “buy” rating on the stock in a report on Friday, March 3rd. Raymond James decreased their target price on Tricon Residential from $13.00 to $11.00 and set a “strong-buy” rating on the stock in a research report on Friday, March 3rd. National Bank Financial decreased their target price on Tricon Residential from C$15.00 to C$13.00 in a research report on Monday, January 30th. Keefe, Bruyette & Woods decreased their target price on Tricon Residential from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Thursday, March 16th. Finally, Mizuho started coverage on Tricon Residential in a research report on Wednesday, March 22nd. They issued a “buy” rating and a $9.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tricon Residential currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.52.

Tricon Residential Stock Performance

NYSE TCN opened at $7.89 on Thursday. The business’s 50-day moving average price is $7.88 and its 200 day moving average price is $8.16. Tricon Residential Inc. has a twelve month low of $7.18 and a twelve month high of $12.69. The company has a market capitalization of $2.15 billion, a PE ratio of 5.19 and a beta of 1.14. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.25.

Tricon Residential (NYSE:TCN – Get Rating) last released its earnings results on Wednesday, March 1st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.17). Tricon Residential had a return on equity of 18.10% and a net margin of 97.08%. The business had revenue of $180.89 million for the quarter. On average, research analysts predict that Tricon Residential Inc. will post 0.51 earnings per share for the current year.

Tricon Residential Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.058 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.23 annualized dividend and a yield of 2.94%. Tricon Residential’s dividend payout ratio is presently 15.13%.

About Tricon Residential

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Tricon Residential, Inc is a residential real estate investment company, which engages in renting homes and apartments. It operates through the following business segments: Single-Family Rental, Adjacent Businesses, Private Funds and Advisory and Corporate. The Single-Family Rental Business segment owns and operates single family rental homes.