True North Commercial REIT (TSE:TNT.UN) Raises Dividend to $0.06 Per Share

True North Commercial REIT (TSE:TNT.UN - Get Free Report) declared a monthly dividend on Wednesday, April 30th, TickerTech Dividends reports. Investors of record on Thursday, May 15th will be paid a dividend of 0.0575 per share on Thursday, May 15th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date of this dividend is Wednesday, April 30th. This is a 131.9% increase from True North Commercial REIT's previous monthly dividend of $0.02.

True North Commercial REIT Stock Performance

TNT.UN stock traded up C$0.07 during mid-day trading on Friday, hitting C$9.60. The company had a trading volume of 9,295 shares, compared to its average volume of 25,018. The company has a debt-to-equity ratio of 175.73, a quick ratio of 0.06 and a current ratio of 0.14. The firm has a market cap of C$138.82 million, a PE ratio of -2.96 and a beta of 1.57. True North Commercial REIT has a 12 month low of C$7.77 and a 12 month high of C$14.05. The stock's fifty day moving average price is C$9.13 and its two-hundred day moving average price is C$10.08.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their price objective on True North Commercial REIT from C$12.00 to C$11.00 and set a "hold" rating for the company in a report on Thursday, March 20th.

About True North Commercial REIT

True North Commercial REIT is a Canadian-based open-ended Real estate investment trust company. It owns and acquires Canadian commercial real estate properties. Its objective is to maximize total returns to unitholders. Returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties.