True North Commercial REIT (TSE:TNT.UN - Get Free Report)'s share price 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 traded.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group dropped 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 note on Thursday, March 20th.
Read Our Latest Research Report on True North Commercial REIT
True North Commercial REIT Price Performance
The firm has a market capitalization of C$132.31 million, a P/E ratio of -2.82 and a beta of 1.57. The business has a 50-day moving average of C$9.36 and a 200 day moving average of C$9.80. The company has a current ratio of 0.14, a quick ratio of 0.06 and a debt-to-equity ratio of 175.73.
True North Commercial REIT Increases Dividend
The firm also recently disclosed a monthly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.0575 per share. This is a positive change from True North Commercial REIT's previous monthly dividend of $0.02. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.69 annualized dividend and a dividend yield of 7.54%. True North Commercial REIT's payout ratio is presently -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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