True North Commercial REIT (TSE:TNT.UN - Get Free Report) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$9.29 and traded as high as C$9.34. True North Commercial REIT shares last traded at C$8.92, with a volume of 58,941 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Canaccord Genuity Group lowered their price target 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.
View Our Latest Report on True North Commercial REIT
True North Commercial REIT Stock Performance
The company has a debt-to-equity ratio of 175.73, a current ratio of 0.14 and a quick ratio of 0.06. The stock has a 50 day simple moving average of C$9.29 and a two-hundred day simple moving average of C$9.86. The company has a market cap of C$128.98 million, a PE ratio of -2.75 and a beta of 1.57.
True North Commercial REIT Increases Dividend
The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th will be paid a $0.0575 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.69 dividend on an annualized basis and a yield of 7.74%. This is a boost from True North Commercial REIT's previous monthly dividend of $0.02. True North Commercial REIT's payout ratio is currently -52.78%.
About True North Commercial REIT
(
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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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