True North Commercial REIT (TSE:TNT.UN) Stock Passes Below 200 Day Moving Average – Here’s Why

True North Commercial REIT (TSE:TNT.UN) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.63 and traded as low as C$8.74. True North Commercial REIT shares last traded at C$9.06, with a volume of 48,112 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group dropped their price target on True North Commercial REIT from C$12.00 to C$11.00 and set a “hold” rating for the company in a report on Thursday, March 20th.

True North Commercial REIT Stock Performance

The stock has a market cap of C$131.01 million, a price-to-earnings ratio of -2.80 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. The firm has a fifty day simple moving average of C$9.04 and a 200-day simple moving average of C$10.63.

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.