Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Tricon Residential Inc. (NYSE:TCN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tricon Residential Inc. (NYSE:TCN) by 7.0% in the 4th quarter, Holdings Channel reports. The fund owned 102,743 shares of the company’s stock after acquiring an additional 6,727 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tricon Residential were worth $940,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. NewEdge Wealth LLC grew its stake in Tricon Residential by 12.5% during the 4th quarter. NewEdge Wealth LLC now owns 22,514 shares of the company’s stock valued at $205,000 after acquiring an additional 2,500 shares in the last quarter. Caldwell Investment Management Ltd. grew its stake 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 buying an additional 715,000 shares during the period. Vanguard Group Inc. grew its stake 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 buying an additional 171,518 shares during the period. Wellington Management Group LLP grew its stake in shares of Tricon Residential by 128.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,046,558 shares of the company’s stock valued at $29,946,000 after buying an additional 2,274,603 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Tricon Residential by 3.6% in the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,555,459 shares of the company’s stock valued at $11,510,000 after buying an additional 53,920 shares during the period. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TCN shares. Raymond James reissued a “market perform” rating on shares of Tricon Residential in a research note on Monday, January 22nd. Citigroup reissued a “neutral” rating and issued a $11.25 price target (up previously from $10.50) 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 increased their price objective for the stock from $10.00 to $11.25 in a research report on Monday, January 22nd. BMO Capital Markets cut shares of Tricon Residential from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Finally, TD Securities cut shares of Tricon Residential from a “buy” rating to a “tender” rating and increased their price objective for the stock from $10.50 to $11.25 in a research report on Monday, January 22nd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.47.

Tricon Residential Price Performance

Tricon Residential stock opened at $11.23 on Monday. The firm has a market cap of $3.33 billion, a PE ratio of 38.72 and a beta of 1.43. Tricon Residential Inc. has a 52-week low of $6.53 and a 52-week high of $11.24. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.41. The company’s 50 day moving average is $11.12 and its two-hundred day moving average is $9.55.

Tricon Residential (NYSE:TCN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). Tricon Residential had a net margin of 19.97% and a return on equity of 3.12%. The firm had revenue of $226.41 million during the quarter, compared to analyst estimates of $130.17 million. On average, research analysts expect that Tricon Residential Inc. will post 0.61 EPS for the current fiscal year.

Tricon Residential Company Profile

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.