Canaccord Genuity Group Downgrades Timbercreek Financial (TSE:TF) to Hold

Timbercreek Financial (TSE:TF) was downgraded by Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report released on Friday, Marketbeat.com reports. They currently have a C$7.30 price objective on the stock, down from their previous price objective of C$7.75. Canaccord Genuity Group’s price objective would suggest a potential upside of 7.99% from the stock’s previous close.

Separately, National Bank Financial reduced their price objective on Timbercreek Financial from C$8.25 to C$8.00 and set a “sector perform” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$7.77.

Timbercreek Financial Trading Up 0.7%

Shares of TF stock opened at C$6.76 on Friday. The company has a current ratio of 1.53, a quick ratio of 145.00 and a debt-to-equity ratio of 122.88. The stock has a market capitalization of C$559.41 million, a price-to-earnings ratio of 14.70 and a beta of 1.01. Timbercreek Financial has a 12-month low of C$5.91 and a 12-month high of C$7.98. The stock’s 50-day moving average price is C$7.07 and its 200-day moving average price is C$7.15.

About Timbercreek Financial

Timbercreek Financial Corp is a Canada-based non-banking commercial real estate lender. The company provides shorter-duration, customized financing solutions to professional real estate investors. It invests directly in a diversified portfolio of structured mortgage loans primarily secured by stabilized, income-producing commercial real estates, such as multi-residential, office and retail buildings located in urban markets across Canada. The company’s strategy is to preserve investor capital by lending mainly against income producing real estate, mitigate concentration risk by diversifying geographically by asset type and borrower and ensure loan to value ratios.