DekaBank Deutsche Girozentrale lowered its stake in shares of Tricon Residential Inc. (NYSE:TCN – Get Rating) by 5.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,915 shares of the company's stock after selling 3,218 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Tricon Residential were worth $440,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp bought a new position in Tricon Residential during the first quarter worth $39,000. Advisors Asset Management Inc. bought a new stake in Tricon Residential in the 1st quarter valued at $42,000. Grayhawk Investment Strategies Inc. bought a new stake in Tricon Residential in the 2nd quarter valued at $48,000. Power Corp of Canada bought a new stake in Tricon Residential in the 1st quarter valued at $59,000. Finally, EverSource Wealth Advisors LLC bought a new stake in Tricon Residential in the 2nd quarter valued at $72,000. Institutional investors own 57.41% of the company's stock.
Get Tricon Residential alerts:Tricon Residential Stock Up 2.8 %
Shares of NYSE TCN opened at $8.72 on Friday. The firm's 50-day simple moving average is $8.13 and its 200 day simple moving average is $9.25. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 3.66 and a beta of 1.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.38. Tricon Residential Inc. has a 12-month low of $7.18 and a 12-month high of $17.23.
Tricon Residential (NYSE:TCN – Get Rating) last released its earnings results on Tuesday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.33. Tricon Residential had a net margin of 149.77% and a return on equity of 25.87%. The company had revenue of $170.77 million for the quarter. On average, research analysts expect that Tricon Residential Inc. will post 0.69 earnings per share for the current fiscal year.Tricon Residential Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Saturday, December 31st were given a dividend of $0.058 per share. The ex-dividend date was Thursday, December 29th. This represents a $0.23 dividend on an annualized basis and a yield of 2.66%. Tricon Residential's payout ratio is presently 9.66%.
Analysts Set New Price Targets
TCN has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of Tricon Residential from $12.75 to $8.50 and set an "equal weight" rating on the stock in a report on Monday, December 12th. Canaccord Genuity Group lowered their price target 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. Royal Bank of Canada reduced their target price on shares of Tricon Residential from $12.00 to $11.00 and set an "outperform" rating on the stock in a research note on Monday, November 14th. Wolfe Research assumed coverage on shares of Tricon Residential in a research note on Tuesday, November 29th. They issued a "market perform" rating on the stock. Finally, TD Securities reduced 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. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.92.
About Tricon Residential
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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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