Ninepoint Partners LP Decreases Holdings in Tricon Residential Inc. (NYSE:TCN)

Ninepoint Partners LP trimmed its stake in shares of Tricon Residential Inc. (NYSE:TCN) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,126 shares of the company’s stock after selling 2,785 shares during the period. Ninepoint Partners LP’s holdings in Tricon Residential were worth $119,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TCN. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Tricon Residential in the first quarter valued at about $39,000. Advisors Asset Management Inc. acquired a new stake in shares of Tricon Residential in the first quarter valued at about $42,000. Power Corp of Canada acquired a new stake in shares of Tricon Residential in the first quarter valued at about $59,000. Tower Research Capital LLC TRC raised its position in shares of Tricon Residential by 90.2% in the third quarter. Tower Research Capital LLC TRC now owns 8,148 shares of the company’s stock valued at $72,000 after buying an additional 3,865 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Tricon Residential in the first quarter valued at about $88,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Tricon Residential Trading Up 0.1 %

Shares of Tricon Residential stock traded up $0.01 during mid-day trading on Friday, hitting $11.07. 1,790,298 shares of the stock were exchanged, compared to its average volume of 7,212,377. Tricon Residential Inc. has a twelve month low of $6.53 and a twelve month high of $11.19. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 38.12 and a beta of 1.43. The company has a 50-day simple moving average of $11.11 and a 200 day simple moving average of $9.35. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.41.

Tricon Residential (NYSE:TCN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.28). The company had revenue of $226.41 million for the quarter, compared to analysts’ expectations of $130.17 million. Tricon Residential had a return on equity of 3.12% and a net margin of 19.97%. Research analysts forecast that Tricon Residential Inc. will post 0.61 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. CIBC cut shares of Tricon Residential from an “outperform” rating to a “tender” rating and raised their price objective for the stock from $10.00 to $11.25 in a research report on Monday, January 22nd. TD Securities cut shares of Tricon Residential from a “buy” rating to a “tender” rating and raised their price objective for the stock from $10.50 to $11.25 in a research report on Monday, January 22nd. Citigroup restated a “neutral” rating and set a $11.25 price objective (up from $10.50) on shares of Tricon Residential in a research report on Monday, January 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Tricon Residential from $9.50 to $11.25 and gave the stock a “market perform” rating in a research report on Monday, January 22nd. Finally, Raymond James reaffirmed a “market perform” rating on shares of Tricon Residential in a research note on Monday, January 22nd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.47.

Tricon Residential Profile

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.