Tricon Residential Inc. (NYSE:TCN) Shares Acquired by Bailard Inc.

Bailard Inc. boosted its holdings in Tricon Residential Inc. (NYSE:TCN) by 166.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,800 shares of the company’s stock after buying an additional 18,000 shares during the quarter. Bailard Inc.’s holdings in Tricon Residential were worth $262,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Land & Buildings Investment Management LLC bought a new stake in shares of Tricon Residential during the 3rd quarter worth $45,874,000. Wellington Management Group LLP lifted its holdings in shares of Tricon Residential by 128.4% during the third quarter. Wellington Management Group LLP now owns 4,046,558 shares of the company’s stock valued at $29,946,000 after purchasing an additional 2,274,603 shares during the last quarter. Caldwell Investment Management Ltd. boosted its position in shares of Tricon Residential by 746.8% in the 4th quarter. Caldwell Investment Management Ltd. now owns 810,740 shares of the company’s stock valued at $7,393,000 after purchasing an additional 715,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Tricon Residential by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 11,531,266 shares of the company’s stock valued at $85,331,000 after purchasing an additional 171,518 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new position in Tricon Residential in the 3rd quarter worth about $1,021,000. Institutional investors own 62.28% of the company’s stock.

Tricon Residential Trading Up 0.1 %

Tricon Residential stock opened at $11.23 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.41. Tricon Residential Inc. has a 12 month low of $6.53 and a 12 month high of $11.24. The company’s fifty day simple moving average is $11.12 and its 200-day simple moving average is $9.55. The stock has a market cap of $3.33 billion, a P/E ratio of 38.72 and a beta of 1.43.

Tricon Residential (NYSE:TCN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.28). The business had revenue of $226.41 million for the quarter, compared to the consensus estimate of $130.17 million. Tricon Residential had a net margin of 19.97% and a return on equity of 3.12%. As a group, sell-side analysts forecast that Tricon Residential Inc. will post 0.61 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on TCN. Citigroup reaffirmed a “neutral” rating and set a $11.25 price objective (up from $10.50) on shares of Tricon Residential in a research note on Monday, January 22nd. Raymond James reaffirmed a “market perform” rating on shares of Tricon Residential in a research note on Monday, January 22nd. CIBC cut shares of Tricon Residential from an “outperform” rating to a “tender” rating and lifted their price objective for the stock from $10.00 to $11.25 in a research report on Monday, January 22nd. BMO Capital Markets lowered Tricon Residential from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Finally, Wolfe Research downgraded Tricon Residential from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Tricon Residential presently has an average rating of “Hold” and a consensus price target of $10.47.

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.