Tricon Residential (NYSE:TCN) Reaches New 12-Month High at $11.25

Tricon Residential Inc. (NYSE:TCN) reached a new 52-week high on Wednesday . The stock traded as high as $11.25 and last traded at $11.25, with a volume of 3513414 shares trading hands. The stock had previously closed at $11.23.

Analysts Set New Price Targets

Several research firms recently weighed in on TCN. Wolfe Research lowered Tricon Residential from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 1st. Citigroup reiterated a “neutral” rating and set a $11.25 price objective (up previously from $10.50) on shares of Tricon Residential in a research note on Monday, January 22nd. BMO Capital Markets cut Tricon Residential from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. CIBC cut Tricon Residential from an “outperform” rating to a “tender” rating and lifted their price objective for the company from $10.00 to $11.25 in a research note on Monday, January 22nd. Finally, Raymond James reiterated a “market perform” rating on shares of Tricon Residential in a research note on Monday, January 22nd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Tricon Residential currently has a consensus rating of “Hold” and a consensus target price of $10.47.

Tricon Residential Stock Up 0.1 %

The company has a 50 day moving average price of $11.13 and a two-hundred day moving average price of $9.61. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market cap of $3.34 billion, a PE ratio of 38.76 and a beta of 1.43.

Tricon Residential (NYSE:TCN) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.14) earnings per share 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 during the quarter, compared to analysts’ expectations of $130.17 million. Analysts expect that Tricon Residential Inc. will post 0.61 EPS for the current year.

Institutional Trading of Tricon Residential

Several large investors have recently modified their holdings of the company. 1832 Asset Management L.P. grew its holdings in shares of Tricon Residential by 3.8% in the fourth quarter. 1832 Asset Management L.P. now owns 13,039,665 shares of the company’s stock worth $118,661,000 after acquiring an additional 471,700 shares during the period. Vanguard Group Inc. grew its holdings in shares of Tricon Residential by 1.5% in the third quarter. Vanguard Group Inc. now owns 11,531,266 shares of the company’s stock worth $85,331,000 after acquiring an additional 171,518 shares during the period. Land & Buildings Investment Management LLC bought a new stake in Tricon Residential during the third quarter valued at about $45,874,000. Wellington Management Group LLP grew its holdings in Tricon Residential by 24.2% during the fourth quarter. Wellington Management Group LLP now owns 5,027,581 shares of the company’s stock valued at $45,754,000 after purchasing an additional 981,023 shares during the period. Finally, Syquant Capital Sas bought a new stake in Tricon Residential during the first quarter valued at about $43,187,000. Institutional investors own 62.28% of the company’s stock.

Tricon Residential Company Profile

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.