share_log

Tricon Residential Inc. to Post Q4 2022 Earnings of $0.23 Per Share, National Bank Financial Forecasts (NYSE:TCN)

Defense World ·  Feb 2, 2023 01:32

Tricon Residential Inc. (NYSE:TCN – Get Rating) – Equities researchers at National Bank Financial issued their Q4 2022 EPS estimates for Tricon Residential in a research note issued to investors on Sunday, January 29th. National Bank Financial analyst T. Woolley anticipates 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:

Tricon Residential (NYSE:TCN – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.33. The business had revenue of $170.77 million for the quarter. Tricon Residential had a net margin of 149.77% and a return on equity of 25.87%.

Other analysts have also recently issued reports about the company. Morgan Stanley lowered their price target on Tricon Residential from $12.75 to $8.50 and set an "equal weight" rating for the company in a research note on Monday, December 12th. Royal Bank of Canada reduced their price target on Tricon Residential from $12.00 to $11.00 and set an "outperform" rating for the company in a research report on Monday, November 14th. Wolfe Research assumed coverage on Tricon Residential in a report on Tuesday, November 29th. They issued a "market perform" rating for the company. Keefe, Bruyette & Woods downgraded Tricon Residential from an "outperform" rating to a "market perform" rating and set a $12.20 price objective for the company. in a report on Thursday, December 15th. Finally, Raymond James dropped their price target on Tricon Residential from $15.00 to $13.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, November 16th. Four 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 a consensus price target of $12.72.

Tricon Residential Stock Performance

Shares of NYSE:TCN opened at $8.74 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $2.39 billion, a P/E ratio of 3.67 and a beta of 1.05. The business has a 50-day moving average price of $8.12 and a two-hundred day moving average price of $9.20. Tricon Residential has a 1-year low of $7.18 and a 1-year high of $17.23.

Tricon Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, January 15th. Stockholders of record on Saturday, December 31st were paid a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Thursday, December 29th. Tricon Residential's payout ratio is 9.66%.

Institutional Trading of Tricon Residential

A number of hedge funds have recently made changes to their positions in the company. Cohen & Steers Inc. boosted its stake in shares of Tricon Residential by 12.7% during the third quarter. Cohen & Steers Inc. now owns 14,154,101 shares of the company's stock valued at $122,433,000 after purchasing an additional 1,593,024 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tricon Residential by 2.4% during the third quarter. Vanguard Group Inc. now owns 10,895,109 shares of the company's stock worth $94,242,000 after acquiring an additional 254,011 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Tricon Residential by 52.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,179,634 shares of the company's stock worth $103,221,000 after acquiring an additional 3,483,476 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its position in shares of Tricon Residential by 4.1% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,071,188 shares of the company's stock worth $26,566,000 after acquiring an additional 120,868 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of Tricon Residential by 3.5% during the third quarter. Fiera Capital Corp now owns 2,711,145 shares of the company's stock worth $16,983,000 after acquiring an additional 91,767 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Tricon Residential Company Profile

(Get Rating)

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.

Featured Stories

  • Get a free copy of the StockNews.com research report on Tricon Residential (TCN)
  • Bed Bath & Beyond Is Circling the Drain
  • Allegro Microsystems Is A Well-Positioned Semiconductor Stock
  • Scotts Miracle-Gro Hits Bottom, Reversal In Play
  • Altria is a Great Recession Stock, Long-Term Outlook Uncertain
  • Novavax Shares Jumped in January While Others Slipped

Receive News & Ratings for Tricon Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tricon Residential and related companies with MarketBeat.com's FREE daily email newsletter.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment