Mackenzie Financial Corp Sells 336,736 Shares of Tricon Residential Inc. (NYSE:TCN)

Mackenzie Financial Corp lessened its position in Tricon Residential Inc. (NYSE:TCN - Free Report) by 49.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 349,085 shares of the company's stock after selling 336,736 shares during the period. Mackenzie Financial Corp owned approximately 0.13% of Tricon Residential worth $3,179,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TCN. Vanguard Group Inc. lifted its holdings in shares of Tricon Residential by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,531,266 shares of the company's stock valued at $85,331,000 after purchasing an additional 171,518 shares in the last quarter. Land & Buildings Investment Management LLC bought a new stake in shares of Tricon Residential during the third quarter worth $45,874,000. Wellington Management Group LLP lifted its position in Tricon Residential by 128.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,046,558 shares of the company's stock valued at $29,946,000 after acquiring an additional 2,274,603 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its stake in Tricon Residential by 3.6% in the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,555,459 shares of the company's stock worth $11,510,000 after purchasing an additional 53,920 shares during the period. Finally, Cidel Asset Management Inc. increased its holdings in Tricon Residential by 0.5% during the 3rd quarter. Cidel Asset Management Inc. now owns 912,832 shares of the company's stock worth $6,777,000 after purchasing an additional 4,963 shares in the last quarter. 62.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Tricon Residential from $9.50 to $11.25 and gave the stock a "market perform" rating in a research report on Monday, January 22nd. BMO Capital Markets cut shares of Tricon Residential from an "outperform" rating to a "market perform" rating in a research note on Monday, January 22nd. TD Securities lowered shares of Tricon Residential from a "buy" rating to a "tender" rating and boosted their price objective for the stock from $10.50 to $11.25 in a research report on Monday, January 22nd. Citigroup reiterated a "neutral" rating and issued a $11.25 price target (up from $10.50) on shares of Tricon Residential in a research note on Monday, January 22nd. Finally, Wolfe Research downgraded shares of Tricon Residential from an "outperform" rating to a "peer perform" rating in a research note on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $10.47.

Tricon Residential Stock Performance

NYSE TCN traded up $0.01 during trading on Tuesday, reaching $11.06. 1,398,202 shares of the company's stock were exchanged, compared to its average volume of 7,119,299. 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 business has a 50 day moving average price of $11.11 and a 200-day moving average price of $9.47. The stock has a market capitalization of $3.28 billion, a P/E ratio of 38.14 and a beta of 1.43. Tricon Residential Inc. has a fifty-two week low of $6.53 and a fifty-two week high of $11.19.

Tricon Residential (NYSE:TCN - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.28). The company had revenue of $226.41 million for the quarter, compared to the consensus estimate of $130.17 million. Tricon Residential had a return on equity of 3.12% and a net margin of 19.97%. Sell-side analysts forecast that Tricon Residential Inc. will post 0.61 earnings per share for the current fiscal year.

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.