Timbercreek Financial (TSE:TF) Trading Down 0.7% on Analyst Downgrade

Timbercreek Financial Corp. (TSE:TF)’s stock price traded down 0.7% during trading on Thursday after Canaccord Genuity Group downgraded the stock from a buy rating to a hold rating. Canaccord Genuity Group now has a C$7.30 price target on the stock, down from their previous price target of C$7.75. Timbercreek Financial traded as low as C$7.24 and last traded at C$7.26. 164,800 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 189,467 shares. The stock had previously closed at C$7.31.

Separately, National Bank Financial decreased their price objective on Timbercreek Financial from C$8.25 to C$8.00 and set a “sector perform” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$7.77.

Timbercreek Financial Stock Performance

The firm’s 50 day simple moving average is C$7.07 and its 200 day simple moving average is C$7.16. The firm has a market capitalization of C$559.41 million, a price-to-earnings ratio of 14.70 and a beta of 1.01. The company has a debt-to-equity ratio of 122.88, a quick ratio of 145.00 and a current ratio of 1.53.

Timbercreek Financial Company Profile

Timbercreek Financial Corp is a Canada-based non-banking commercial real estate lender. The company provides shorter-duration, customized financing solutions to professional real estate investors. It invests directly in a diversified portfolio of structured mortgage loans primarily secured by stabilized, income-producing commercial real estates, such as multi-residential, office and retail buildings located in urban markets across Canada. The company’s strategy is to preserve investor capital by lending mainly against income producing real estate, mitigate concentration risk by diversifying geographically by asset type and borrower and ensure loan to value ratios.