Tricon Residential Inc. (NYSE:TCN) Receives $10.47 Average PT from Brokerages

Tricon Residential Inc. (NYSE:TCN - Get Free Report) has received an average recommendation of "Hold" from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.47.

Several equities research analysts recently issued reports on TCN shares. Wolfe Research downgraded Tricon Residential from an "outperform" rating to a "peer perform" rating in a report on Thursday, February 1st. Raymond James reiterated a "market perform" rating on shares of Tricon Residential in a report on Monday, January 22nd. CIBC downgraded Tricon Residential from an "outperform" rating to a "tender" rating and upped their price target for the stock from $10.00 to $11.25 in a report on Monday, January 22nd. BMO Capital Markets downgraded Tricon Residential from an "outperform" rating to a "market perform" rating in a research note on Monday, January 22nd. Finally, TD Securities downgraded Tricon Residential from a "buy" rating to a "tender" rating and upped their price objective for the company from $10.50 to $11.25 in a research note on Monday, January 22nd.

Tricon Residential Stock Down 0.1 %

Tricon Residential stock traded down $0.01 during trading on Friday, hitting $11.16. 1,440,207 shares of the company were exchanged, compared to its average volume of 5,449,178. The business's 50 day moving average is $11.10 and its 200 day moving average is $9.15. Tricon Residential has a 52 week low of $6.53 and a 52 week high of $11.19. The company has a market capitalization of $3.05 billion, a P/E ratio of 38.48 and a beta of 1.43. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.41.

Tricon Residential (NYSE:TCN - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $226.41 million for the quarter, compared to the consensus estimate of $130.17 million. Analysts predict that Tricon Residential will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in shares of Tricon Residential by 26.9% during the 4th quarter. Advisors Asset Management Inc. now owns 6,664 shares of the company's stock valued at $51,000 after buying an additional 1,414 shares during the last quarter. Ieq Capital LLC lifted its position in shares of Tricon Residential by 8.3% during the 4th quarter. Ieq Capital LLC now owns 19,673 shares of the company's stock valued at $179,000 after buying an additional 1,500 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Tricon Residential by 1.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 131,745 shares of the company's stock valued at $1,018,000 after buying an additional 1,866 shares during the last quarter. Sei Investments Co. lifted its holdings in Tricon Residential by 0.8% during the 3rd quarter. Sei Investments Co. now owns 298,590 shares of the company's stock worth $2,210,000 after purchasing an additional 2,327 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Tricon Residential during the 1st quarter worth about $39,000. Hedge funds and other institutional investors 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.