Tricon Residential (TSE:TCN) Stock Crosses Above Two Hundred Day Moving Average of $12.79

Tricon Residential Inc. (TSE:TCN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$12.79 and traded as high as C$15.16. Tricon Residential shares last traded at C$15.08, with a volume of 117,252 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on TCN. National Bankshares downgraded Tricon Residential from a “sector perform” rating to a “tender” rating and increased their price objective for the company from C$11.00 to C$15.17 in a report on Monday, February 5th. BMO Capital Markets downgraded Tricon Residential from an “outperform” rating to a “market perform” rating and raised their price target for the company from C$12.50 to C$15.15 in a report on Monday, January 22nd.

Tricon Residential Stock Down 0.3 %

The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 157.17. The stock has a market cap of C$4.11 billion, a P/E ratio of 26.93 and a beta of 1.47. The firm has a 50-day simple moving average of C$15.09 and a two-hundred day simple moving average of C$12.79.

Tricon Residential (TSE:TCN) last posted its quarterly earnings data on Tuesday, February 27th. The company reported C($0.18) earnings per share for the quarter, missing the consensus estimate of C$0.20 by C($0.38). Tricon Residential had a return on equity of 3.18% and a net margin of 12.91%. The firm had revenue of C$308.26 million for the quarter, compared to the consensus estimate of C$171.82 million. Equities research analysts expect that Tricon Residential Inc. will post 1.0514403 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ira Gluskin sold 100,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$15.12, for a total value of C$1,512,000.00. Over the last quarter, insiders have sold 365,841 shares of company stock worth $5,530,979. Company insiders own 3.38% of the company’s stock.

About Tricon Residential

Tricon Residential Inc (NYSE: TCN, TSX: TCN) is an owner, operator and developer of a growing portfolio of approximately 38,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Toronto, Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.