True North Commercial REIT (TSE:TNT.UN) Shares Cross Above 50-Day Moving Average – Here’s What Happened

True North Commercial REIT (TSE:TNT.UN) shares passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$8.95 and traded as high as C$9.00. True North Commercial REIT shares last traded at C$9.00, with a volume of 38,453 shares changing hands.

Analysts Set New Price Targets

Separately, CIBC increased their target price on shares of True North Commercial REIT from C$9.50 to C$11.25 in a research report on Monday, November 18th.

True North Commercial REIT Stock Up 7.7 %

The stock’s 50-day moving average is C$8.95 and its 200-day moving average is C$10.75. The stock has a market cap of C$130.14 million, a P/E ratio of -2.78 and a beta of 1.57. The company has a current ratio of 0.14, a quick ratio of 0.06 and a debt-to-equity ratio of 175.73.

True North Commercial REIT Company Profile

True North Commercial REIT is a Canadian-based open-ended Real estate investment trust company. It owns and acquires Canadian commercial real estate properties. Its objective is to maximize total returns to unitholders. Returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties.