True North Commercial REIT (TSE:TNT.UN - Get Free Report) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$9.02 and traded as high as C$9.54. True North Commercial REIT shares last traded at C$9.41, with a volume of 19,850 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Canaccord Genuity Group lowered their price objective on shares of True North Commercial REIT from C$12.00 to C$11.00 and set a "hold" rating on the stock in a research report on Thursday, March 20th.
View Our Latest Stock Analysis on TNT.UN
True North Commercial REIT Stock Down 1.5 %
The firm has a market cap of C$134.48 million, a price-to-earnings ratio of -2.87 and a beta of 1.57. 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 business's 50-day moving average is C$9.06 and its 200-day moving average is C$10.12.
True North Commercial REIT Increases Dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be given a dividend of $0.0575 per share. The ex-dividend date is Wednesday, April 30th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 7.42%. This is a boost from True North Commercial REIT's previous monthly dividend of $0.02. True North Commercial REIT's dividend payout ratio (DPR) is -52.78%.
About True North Commercial REIT
(
Get Free Report)
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.
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