Analysts Set Tricon Residential Inc. (NYSE:TCN) Price Target at $10.47

Tricon Residential Inc. (NYSE:TCN) has earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.47.

TCN has been the subject of a number of recent analyst reports. BMO Capital Markets lowered shares of Tricon Residential from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. TD Securities lowered shares of Tricon Residential from a “buy” rating to a “tender” rating and upped their target price for the stock from $10.50 to $11.25 in a research report on Monday, January 22nd. Raymond James reiterated a “market perform” rating on shares of Tricon Residential in a research report on Monday, January 22nd. Citigroup reiterated a “neutral” rating and issued a $11.25 target price (up from $10.50) on shares of Tricon Residential in a research report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Tricon Residential from $9.50 to $11.25 and gave the stock a “market perform” rating in a research note on Monday, January 22nd.

Tricon Residential Stock Down 1.2 %

Tricon Residential stock opened at $11.04 on Friday. Tricon Residential has a 1-year low of $6.53 and a 1-year high of $11.19. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 38.07 and a beta of 1.43. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.41. The firm has a 50 day simple moving average of $11.12 and a 200 day simple moving average of $9.25.

Tricon Residential (NYSE:TCN) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). The firm had revenue of $226.41 million for the quarter, compared to analysts’ expectations of $130.17 million. Tricon Residential had a net margin of 19.97% and a return on equity of 3.12%. On average, analysts predict that Tricon Residential will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Tricon Residential

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in Tricon Residential by 128.4% in the third quarter. Wellington Management Group LLP now owns 4,046,558 shares of the company’s stock worth $29,946,000 after buying an additional 2,274,603 shares in the last quarter. Caldwell Investment Management Ltd. raised its stake in Tricon Residential by 746.8% in the fourth quarter. Caldwell Investment Management Ltd. now owns 810,740 shares of the company’s stock worth $7,393,000 after buying an additional 715,000 shares in the last quarter. Centersquare Investment Management LLC raised its stake in Tricon Residential by 1,031.1% in the second quarter. Centersquare Investment Management LLC now owns 7,059,458 shares of the company’s stock worth $62,194,000 after buying an additional 6,435,358 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Tricon Residential in the third quarter worth about $1,021,000. Finally, Land & Buildings Investment Management LLC bought a new position in Tricon Residential in the third quarter worth about $45,874,000. 62.28% of the stock is owned by institutional investors.

About Tricon Residential

Tricon Residential Inc (NYSE: TCN, TSX: TCN) is an owner, operator and developer of a growing portfolio of approximately 38,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Toronto, Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.