True North Commercial REIT (TSE:TNT.UN) Shareholders to Get $0.06 Monthly Dividend

Key Points

• True North Commercial REIT declared a monthly dividend of C$0.0575 per share, equivalent to C$0.69 annually and a 9.2% yield. The ex-dividend date is October 30, with payment scheduled for November 16.
• The REIT’s shares opened at C$7.54, near its 52-week low of C$7.39, while the company reported weak fundamentals including negative earnings, a 38.96% net margin, and high debt relative to equity.
• Canaccord Genuity downgraded the stock from “Buy” to “Hold” with a C$7.50 price target; the broader analyst consensus is also “Hold,” with a C$8.50 target.

True North Commercial REIT (TSE:TNT.UN - Get Free Report) declared a monthly dividend on Friday, October 30th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.0575 per share on Monday, November 16th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date is Friday, October 30th.

True North Commercial REIT Stock Down 0.1%

Shares of TSE TNT.UN opened at C$7.54 on Wednesday. The stock has a market cap of C$106.07 million, a PE ratio of -4.47 and a beta of 0.83. The business has a fifty day moving average of C$8.04 and a two-hundred day moving average of C$8.39. True North Commercial REIT has a 52-week low of C$7.39 and a 52-week high of C$9.40. The company has a debt-to-equity ratio of 175.73, a quick ratio of 0.06 and a current ratio of 0.14.

True North Commercial REIT (TSE:TNT.UN - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported C($0.23) earnings per share (EPS) for the quarter. The firm had revenue of C$27.85 million for the quarter. True North Commercial REIT had a negative net margin of 38.96% and a negative return on equity of 10.66%.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group downgraded True North Commercial REIT from a "buy" rating to a "hold" rating and set a C$7.50 target price on the stock. in a report on Monday. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of C$8.50.

True North Commercial REIT Company Profile

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 37 properties consisting of approximately 4.4 million square feet in urban and select strategic secondary markets across Canada. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist.

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