Tricon Residential (NYSE:TCN) Sets New 1-Year High at $11.23

Tricon Residential Inc. (NYSE:TCN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.23 and last traded at $11.23, with a volume of 6166195 shares changing hands. The stock had previously closed at $11.02.

Analyst Ratings Changes

TCN has been the topic of a number of research reports. Wolfe Research cut Tricon Residential from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 1st. CIBC lowered shares of Tricon Residential from an “outperform” rating to a “tender” rating and boosted their price target for the stock from $10.00 to $11.25 in a research note on Monday, January 22nd. TD Securities lowered shares of Tricon Residential from a “buy” rating to a “tender” rating and raised their price objective for the company from $10.50 to $11.25 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. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Tricon Residential from $9.50 to $11.25 and gave the stock a “market perform” rating in a research note on Monday, January 22nd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Tricon Residential has a consensus rating of “Hold” and an average target price of $10.47.

Tricon Residential Stock Up 0.1 %

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 stock has a market cap of $3.33 billion, a PE ratio of 38.74 and a beta of 1.43. The firm has a fifty day moving average of $11.12 and a 200 day moving average of $9.52.

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

Institutional Trading of Tricon Residential

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCN. Abel Hall LLC acquired a new position in Tricon Residential in the fourth quarter valued at $91,000. Naviter Wealth LLC purchased a new position in Tricon Residential during the 4th quarter worth approximately $100,000. Ieq Capital LLC increased its position in Tricon Residential by 8.3% during the fourth quarter. Ieq Capital LLC now owns 19,673 shares of the company’s stock worth $179,000 after buying an additional 1,500 shares during the period. Pursue Wealth Partners LLC purchased a new stake in Tricon Residential in the fourth quarter valued at approximately $203,000. Finally, NewEdge Wealth LLC boosted its holdings in shares of Tricon Residential by 12.5% in the fourth 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 during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

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.