Barometer Capital Management Inc. grew its position in shares of Tricon Residential Inc. (NYSE:TCN – Get Rating) by 20.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 470,770 shares of the company’s stock after purchasing an additional 79,400 shares during the quarter. Tricon Residential accounts for 1.7% of Barometer Capital Management Inc.’s holdings, making the stock its 22nd largest holding. Barometer Capital Management Inc.’s holdings in Tricon Residential were worth $9,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC acquired a new stake in shares of Tricon Residential in the fourth quarter worth approximately $835,000. Mirabella Financial Services LLP acquired a new stake in shares of Tricon Residential in the fourth quarter worth approximately $184,000. Laurion Capital Management LP acquired a new stake in shares of Tricon Residential in the fourth quarter worth approximately $1,176,000. Public Sector Pension Investment Board acquired a new stake in shares of Tricon Residential in the fourth quarter worth approximately $11,072,000. Finally, Caldwell Investment Management Ltd. acquired a new stake in shares of Tricon Residential in the fourth quarter worth approximately $13,275,000. 52.89% of the stock is owned by institutional investors and hedge funds.
Tricon Residential Trading Down 0.2 %
TCN opened at $10.50 on Friday. The firm has a market capitalization of $2.87 billion and a P/E ratio of 3.72. The firm’s 50 day moving average is $10.83 and its 200-day moving average is $12.69. Tricon Residential Inc. has a 52-week low of $9.33 and a 52-week high of $17.23. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.31.
Tricon Residential Dividend Announcement
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Raymond James raised their target price on shares of Tricon Residential from $16.00 to $16.50 and gave the stock a “strong-buy” rating in a research report on Tuesday, August 16th. Morgan Stanley raised their price target on shares of Tricon Residential from $11.75 to $12.75 and gave the company an “equal weight” rating in a report on Thursday, August 25th. BMO Capital Markets cut their price target on shares of Tricon Residential from C$23.00 to C$19.00 in a report on Friday, August 12th. Royal Bank of Canada cut their price target on shares of Tricon Residential from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, May 12th. Finally, National Bank Financial raised their price target on shares of Tricon Residential from C$17.00 to C$18.00 in a report on Monday, August 22nd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tricon Residential has an average rating of “Buy” and an average price target of $17.25.
Tricon Residential Company Profile
Founded in 1988, Tricon is a rental housing company focused on serving the middle-market demographic. 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-enabled operating platform.
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