In a new note to investors today, an analyst has provided a rating update for Tricon Residential (TCN – Research Report). The NA company, Tricon Residential (TSX: TCN) has just received a rating update from a Wall Street analyst.
According to TipRanks.com, Saric is a 5-star analyst with an average return of 10.8% and a 62.8% success rate. Saric covers the NA sector, focusing on stocks such as Allied Properties Real Estate Investment Trust, NorthWest Healthcare Properties REIT, and RioCan Real Estate Investment.
Currently, the analyst consensus on Tricon Residential is a Moderate Buy with an average price target of C$13.96.
Based on Tricon Residential’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$208 million and net profit of C$45.34 million. In comparison, last year the company had a GAAP net loss of C$215 million.
Tricon Residential Inc is a rental housing company focused on serving the middle-market demographic. The company operates under five reportable segments: Tricon American Homes, Tricon Lifestyle Rentals U.S., Tricon Lifestyle Rentals Canada, Tricon Housing Partners, and Private Funds and Advisory. Tricon owns and operates approximately 30,000 single-family rental homes and multi-family rental units in around 21 markets across the United States and Canada, managed with an integrated technology-enabled operating platform.
The company’s shares closed last Tuesday at C$9.82.
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