Intact Investment Management Inc. Grows Stock Holdings in Tricon Residential Inc. (NYSE:TCN)

Intact Investment Management Inc. boosted its stake in shares of Tricon Residential Inc. (NYSE:TCN - Free Report) by 42.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,287,307 shares of the company's stock after purchasing an additional 384,500 shares during the period. Intact Investment Management Inc. owned 0.47% of Tricon Residential worth $11,717,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TCN. Quantbot Technologies LP acquired a new position in Tricon Residential during the third quarter valued at approximately $192,000. NewEdge Wealth LLC boosted its position in Tricon Residential by 12.5% during the fourth quarter. NewEdge Wealth LLC now owns 22,514 shares of the company's stock valued at $205,000 after purchasing an additional 2,500 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Tricon Residential by 11.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 32,548 shares of the company's stock valued at $241,000 after buying an additional 3,284 shares during the last quarter. Bailard Inc. lifted its position in shares of Tricon Residential by 166.7% in the fourth quarter. Bailard Inc. now owns 28,800 shares of the company's stock valued at $262,000 after buying an additional 18,000 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Tricon Residential in the third quarter valued at approximately $502,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Tricon Residential Price Performance

Shares of TCN traded up $0.01 during midday trading on Friday, hitting $11.23. The company's stock had a trading volume of 23,703,230 shares, compared to its average volume of 8,903,803. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.41. Tricon Residential Inc. has a one year low of $6.53 and a one year high of $11.24. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 38.72 and a beta of 1.43. The company's fifty day simple moving average is $11.12 and its two-hundred day simple moving average is $9.54.

Tricon Residential (NYSE:TCN - Get Free Report) last released its quarterly earnings data 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 net margin of 19.97% and a return on equity of 3.12%. The firm had revenue of $226.41 million for the quarter, compared to analyst estimates of $130.17 million. As a group, equities analysts expect that Tricon Residential Inc. will post 0.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TCN. Keefe, Bruyette & Woods increased their target price on Tricon Residential from $9.50 to $11.25 and gave the stock a "market perform" rating in a research note on Monday, January 22nd. Wolfe Research lowered Tricon Residential from an "outperform" rating to a "peer perform" rating in a research note on Thursday, February 1st. Citigroup reiterated a "neutral" rating and set a $11.25 target price (up previously from $10.50) on shares of Tricon Residential in a research note on Monday, January 22nd. Raymond James reiterated a "market perform" rating on shares of Tricon Residential in a research note on Monday, January 22nd. Finally, CIBC lowered Tricon Residential from an "outperform" rating to a "tender" rating and increased their target price for the stock from $10.00 to $11.25 in a research note on Monday, January 22nd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $10.47.

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.