Tricon Residential Inc. (NYSE:TCN) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its holdings in shares of Tricon Residential Inc. (NYSE:TCN - Free Report) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 876,986 shares of the company's stock after selling 111,967 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.32% of Tricon Residential worth $7,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Tricon Residential during the 1st quarter valued at $39,000. BlackRock Inc. bought a new stake in shares of Tricon Residential during the 1st quarter valued at $885,000. Great West Life Assurance Co. Can raised its position in shares of Tricon Residential by 5.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 82,305 shares of the company's stock valued at $1,393,000 after purchasing an additional 4,530 shares during the period. Vanguard Group Inc. raised its position in shares of Tricon Residential by 531.0% during the 1st quarter. Vanguard Group Inc. now owns 10,500,305 shares of the company's stock valued at $166,746,000 after purchasing an additional 8,836,273 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of Tricon Residential during the 1st quarter valued at $29,049,000. Hedge funds and other institutional investors own 62.28% of the company's stock.

Tricon Residential Stock Performance

Shares of NYSE:TCN remained flat at $11.19 on Wednesday. 8,666,653 shares of the company's stock were exchanged, compared to its average volume of 6,546,070. Tricon Residential Inc. has a 1-year low of $6.53 and a 1-year high of $11.19. The company has a market cap of $3.06 billion, a P/E ratio of 38.57 and a beta of 1.43. The business has a 50-day moving average price of $11.11 and a 200-day moving average price of $9.22. 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 issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates 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. On average, equities research analysts forecast that Tricon Residential Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TCN. Citigroup restated a "neutral" rating and set a $11.25 price objective (up from $10.50) on shares of Tricon Residential in a research report on Monday, January 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Tricon Residential from $9.50 to $11.25 and gave the company a "market perform" rating in a report on Monday, January 22nd. Wolfe Research downgraded shares of 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. Finally, CIBC downgraded shares of Tricon Residential from an "outperform" rating to a "tender" rating and lifted their price target for the company from $10.00 to $11.25 in a report on Monday, January 22nd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $10.47.

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.