Residential Tricon (New York Stock Exchange: TCN – Get a rating) had its target price reduced by stock analysts at TD Securities from $14.00 to $13.00 in a report on Friday, BayStreet.CA reports. The company currently has a “buy” rating on the stock. TD Securities’ price target would point to a potential upside of 43.49% from the company’s previous close.
Several other research analysts have also recently commented on the stock. Goldman Sachs Group lowered its price target on Tricon Residential shares from $14.75 to $11.00 and set a “buy” rating on the stock in a Tuesday, October 18 research note. National Bank Financial lowered its price target on shares of Tricon Residential from C$18.00 to C$15.00 in a Monday, October 24 research note. Morgan Stanley raised its price target on Tricon Residential shares from $11.75 to $12.75 and gave the company an “equal weight” rating in a research report on Thursday, Aug. 25. Canaccord Genuity Group cut its price target on Tricon Residential shares from $16.50 to $15.50 and set a “buy” rating on the stock in a Thursday, Oct. 13 research report. Finally, BMO Capital Markets lowered its price target on Tricon Residential shares from C$23.00 to C$19.00 in a Friday, August 12 research report. One equity research analyst gave the stock a hold rating, eight gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $15.61.
Tricon Residential Price Performance
Tricon Residential Stock traded at $0.25 during midday trading on Friday, reaching $9.06. 56,809 shares of the company were traded, against an average volume of 1,352,639. Tricon Residential has a one-year low of $7.83 and a one-year high of $17.23. The stock has a market cap of $2.48 billion and a price-to-earnings ratio of 3.79. The company has a debt ratio of 1.31, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a fifty-day moving average price of $9.09 and a 200-day moving average price of $10.62.
Residential Tricon (New York Stock Exchange: TCN – Get a rating) last reported quarterly earnings data on Wednesday, August 10. The company reported earnings per share of $0.85 for the quarter, beating analyst consensus estimates of $0.15 by $0.70. The company posted revenue of $155.14 million in the quarter, versus analyst estimates of $153.90 million. Tricon Residential had a net margin of 149.77% and a return on equity of 26.77%. On average, stock analysts predict that Tricon Residential will post earnings per share of 0.62 for the current fiscal year.
Residential Tricon Institutional Trading
Institutional investors have recently been buying and selling shares of the stock. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Tricon Residential in the first quarter worth $39,000. Advisors Asset Management Inc. bought a new stake in the shares of Tricon Residential during the first quarter at a value of $42,000. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Tricon Residential during the second quarter at a value of $48,000. Power Corp of Canada bought a new stake in shares of Tricon Residential during the first quarter for a value of $59,000. Finally, EverSource Wealth Advisors LLC purchased a new equity stake in Tricon Residential during the second quarter at a value of $72,000. 52.89% of the shares are currently held by institutional investors.
Tricon Residential Company Profile
Founded in 1988, Tricon is a rental housing company focused on middle market customers. Tricon owns and operates approximately 31,000 single-family rental homes and multi-family rental units in 21 markets across the United States and Canada, managed with an integrated technology-based operating platform.
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