Russell Investments Group Ltd. Has $662,000 Stock Holdings in Tricon Residential Inc. (NYSE:TCN)

Russell Investments Group Ltd. trimmed its position in Tricon Residential Inc. (NYSE:TCN) by 48.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,439 shares of the company’s stock after selling 79,837 shares during the period. Russell Investments Group Ltd.’s holdings in Tricon Residential were worth $662,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Tricon Residential by 5.5% in the 1st quarter. Van ECK Associates Corp now owns 26,682 shares of the company’s stock valued at $207,000 after acquiring an additional 1,382 shares during the period. Advisors Asset Management Inc. raised its holdings in Tricon Residential by 26.9% during the 4th quarter. Advisors Asset Management Inc. now owns 6,664 shares of the company’s stock worth $51,000 after buying an additional 1,414 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Tricon Residential during the 1st quarter worth approximately $39,000. Toroso Investments LLC raised its holdings in Tricon Residential by 27.1% during the 4th quarter. Toroso Investments LLC now owns 16,326 shares of the company’s stock worth $126,000 after buying an additional 3,486 shares during the period. Finally, Power Corp of Canada acquired a new stake in Tricon Residential during the 1st quarter worth approximately $59,000. 55.83% of the stock is currently owned by institutional investors and hedge funds.

Tricon Residential Price Performance

NYSE:TCN opened at $8.47 on Friday. Tricon Residential Inc. has a 1-year low of $7.18 and a 1-year high of $11.05. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.31. The firm has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $8.35. The stock has a market capitalization of $2.31 billion, a PE ratio of 10.08 and a beta of 1.21.

Tricon Residential (NYSE:TCN) last released its earnings results on Tuesday, August 8th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. Tricon Residential had a net margin of 51.84% and a return on equity of 8.12%. The business had revenue of $124.06 million during the quarter. On average, research analysts expect that Tricon Residential Inc. will post 0.56 EPS for the current fiscal year.

Tricon Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 30th will be given a dividend of $0.058 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.23 dividend on an annualized basis and a yield of 2.74%. Tricon Residential’s dividend payout ratio (DPR) is 27.38%.

Wall Street Analyst Weigh In

Several analysts have commented on TCN shares. VNET Group restated a “reiterates” rating on shares of Tricon Residential in a report on Monday, June 26th. Morgan Stanley raised their target price on shares of Tricon Residential from $9.00 to $9.25 and gave the stock an “equal weight” rating in a report on Friday. National Bank Financial cut shares of Tricon Residential from an “outperform” rating to a “sector perform” rating in a research note on Thursday, August 10th. Scotiabank reaffirmed a “sector outperform” rating and set a $11.00 price target on shares of Tricon Residential in a research note on Friday, June 30th. Finally, Raymond James decreased their price target on shares of Tricon Residential from $12.00 to $11.25 and set a “strong-buy” rating for the company in a research note on Friday, August 18th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tricon Residential presently has a consensus rating of “Moderate Buy” and an average price target of $10.94.

Tricon Residential Company Profile

Tricon Residential Inc (NYSE: TCN, TSX: TCN) is an owner and operator of a growing portfolio of approximately 37,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.