Tricon Residential (NYSE:TCN – Get Rating) had its target price trimmed by Morgan Stanley from $12.75 to $8.50 in a research report report published on Monday morning, Marketbeat reports. The firm currently has an equal weight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. TD Securities lowered their target price on shares of Tricon Residential from $14.00 to $13.00 and set a buy rating on the stock in a research note on Friday, November 11th. Raymond James dropped their target price on shares of Tricon Residential from $15.00 to $13.00 and set a strong-buy rating on the stock in a report on Wednesday, November 16th. National Bank Financial decreased their target price on shares of Tricon Residential from C$18.00 to C$15.00 in a research note on Monday, October 24th. Canaccord Genuity Group dropped their price target on Tricon Residential from $16.50 to $15.50 and set a buy rating on the stock in a research note on Thursday, October 13th. Finally, The Goldman Sachs Group cut Tricon Residential from a buy rating to a neutral rating and reduced their price objective for the company from $11.00 to $9.50 in a research report on Thursday, December 8th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Tricon Residential currently has a consensus rating of Moderate Buy and a consensus price target of $13.00.

Tricon Residential Price Performance

Shares of NYSE TCN opened at $8.00 on Monday. The firm has a market cap of $2.19 billion, a P/E ratio of 3.36 and a beta of 1.05. Tricon Residential has a twelve month low of $7.51 and a twelve month high of $17.23. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.38. The company has a 50 day moving average of $8.49 and a 200 day moving average of $9.83.

Tricon Residential Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Saturday, December 31st will be given a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, December 29th. Tricon Residential's payout ratio is 9.66%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TCN. Toroso Investments LLC purchased a new position in Tricon Residential during the third quarter valued at approximately $111,000. Balyasny Asset Management LLC purchased a new position in shares of Tricon Residential during the 3rd quarter valued at $288,000. Jane Street Group LLC lifted its stake in shares of Tricon Residential by 3,046.9% during the 3rd quarter. Jane Street Group LLC now owns 216,950 shares of the company's stock valued at $1,874,000 after buying an additional 210,056 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Tricon Residential by 25.3% in the 3rd quarter. Alliancebernstein L.P. now owns 92,810 shares of the company's stock worth $803,000 after buying an additional 18,723 shares during the period. Finally, Tacita Capital Inc increased its stake in Tricon Residential by 8.5% in the 3rd quarter. Tacita Capital Inc now owns 165,844 shares of the company's stock worth $1,446,000 after buying an additional 13,000 shares in the last quarter. 52.89% of the stock is owned by hedge funds and other institutional investors.

Tricon Residential Company Profile

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Founded in 1988, Tricon is a rental housing company focused on serving the middle-market demographic. Tricon owns and operates approximately 31,000 single-family rental homes and multi-family rental units in 21 markets across the United States and Canada, managed with an integrated technology-enabled operating platform.

Further Reading

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