Tricon Residential Inc. (NYSE:TCN – Get Rating) – Stock analysts at National Bank Financial issued their Q4 2022 earnings estimates for Tricon Residential in a research report issued on Sunday, January 29th. National Bank Financial analyst T. Woolley forecasts that the company will post earnings of $0.23 per share for the quarter. The consensus estimate for Tricon Residential's current full-year earnings is $0.69 per share.
Get Tricon Residential alerts:A number of other research analysts also recently commented on the stock. Keefe, Bruyette & Woods downgraded shares of Tricon Residential from an "outperform" rating to a "market perform" rating and set a $12.20 price objective on the stock. in a research report on Thursday, December 15th. Wolfe Research began coverage on shares of Tricon Residential in a research report on Tuesday, November 29th. They issued a "market perform" rating for the company. Royal Bank of Canada decreased their target price on shares of Tricon Residential from $12.00 to $11.00 and set an "outperform" rating for the company in a research report on Monday, November 14th. The Goldman Sachs Group downgraded shares of Tricon Residential from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $11.00 to $9.50 in a research report on Thursday, December 8th. Finally, TD Securities decreased their target price on shares of Tricon Residential from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, November 11th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.72.
Tricon Residential Stock Performance
Shares of TCN opened at $8.67 on Wednesday. The company's 50 day moving average price is $8.12 and its 200 day moving average price is $9.21. Tricon Residential has a 52 week low of $7.18 and a 52 week high of $17.23. The company has a market capitalization of $2.37 billion, a PE ratio of 3.64 and a beta of 1.05. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.62 and a current ratio of 0.62.Tricon Residential (NYSE:TCN – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.49 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 firm had revenue of $170.77 million for the quarter.
Hedge Funds Weigh In On Tricon Residential
Large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Tricon Residential during the 1st quarter valued at $39,000. Advisors Asset Management Inc. acquired a new position in Tricon Residential during the 1st quarter valued at $42,000. Power Corp of Canada acquired a new position in Tricon Residential during the 1st quarter valued at $59,000. Grayhawk Investment Strategies Inc. acquired a new position in Tricon Residential during the 2nd quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Tricon Residential during the 2nd quarter valued at $72,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.
Tricon Residential Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Sunday, January 15th. Investors of record on Saturday, December 31st were issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Thursday, December 29th. Tricon Residential's dividend payout ratio is currently 9.66%.
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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