Tricon Residential Inc. (NYSE:TCN – Get Rating) – Research analysts at National Bank Financial decreased their FY2023 earnings estimates for Tricon Residential in a note issued to investors on Sunday, January 29th. National Bank Financial analyst T. Woolley now forecasts that the company will post earnings of $0.41 per share for the year, down from their prior estimate of $0.42. The consensus estimate for Tricon Residential's current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for Tricon Residential's FY2024 earnings at $0.47 EPS.
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Tricon Residential (NYSE:TCN – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.33. Tricon Residential had a net margin of 149.77% and a return on equity of 25.87%. The firm had revenue of $170.77 million for the quarter.
TCN has been the topic of several other research reports. Canaccord Genuity Group cut their price objective on shares of Tricon Residential from $16.50 to $15.50 and set a "buy" rating on the stock in a report on Thursday, October 13th. Wolfe Research assumed coverage on Tricon Residential in a research report on Tuesday, November 29th. They issued a "market perform" rating on the stock. TD Securities dropped their target price on Tricon Residential from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, November 11th. Raymond James dropped their target price on Tricon Residential from $15.00 to $13.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, November 16th. Finally, Royal Bank of Canada dropped their target price on Tricon Residential from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Monday, November 14th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $12.72.
Tricon Residential Stock Performance
TCN opened at $8.74 on Tuesday. Tricon Residential has a 52-week low of $7.18 and a 52-week 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 market cap of $2.39 billion, a P/E ratio of 3.67 and a beta of 1.05. The firm's 50-day moving average price is $8.12 and its 200-day moving average price is $9.20.
Tricon Residential Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Saturday, December 31st were given a $0.058 dividend. The ex-dividend date was Thursday, December 29th. This represents a $0.23 annualized dividend and a yield of 2.65%. Tricon Residential's dividend payout ratio is presently 9.66%.
Institutional Investors Weigh In On Tricon Residential
Hedge funds have recently bought and sold shares of the stock. Shell Asset Management Co. lifted its position in shares of Tricon Residential by 4.9% during the 2nd quarter. Shell Asset Management Co. now owns 28,091 shares of the company's stock valued at $284,000 after buying an additional 1,300 shares in the last quarter. Brinker Capital Investments LLC lifted its position in shares of Tricon Residential by 10.5% during the 3rd quarter. Brinker Capital Investments LLC now owns 17,799 shares of the company's stock valued at $154,000 after buying an additional 1,689 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Tricon Residential during the 1st quarter valued at approximately $39,000. Advisors Asset Management Inc. purchased a new position in shares of Tricon Residential during the 1st quarter valued at approximately $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tricon Residential by 3.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,966 shares of the company's stock valued at $669,000 after buying an additional 2,739 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.
Tricon Residential Company Profile
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Tricon Residential, Inc is a residential real estate investment company. It owns and operates single family rental homes and multi-family rental apartments in the United States and Canada. It operates through the five reportable segments: Single Family Rental Business,Multi Family Rental Business, Residential Development Business, Private Funds and Advisory Business and Corporate Activities.
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