In a new note to investors yesterday, 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, Macleod is a 4-star analyst with an average return of 7.1% and a 48.2% success rate. Macleod covers the NA sector, focusing on stocks such as Gildan Activewear, Dorel Class B, and Aritzia.
Tricon Residential has an analyst consensus of Moderate Buy, with a price target consensus of C$13.06, which is a 29.8% upside from current levels. In a report released today, Scotiabank also maintained a Buy rating on the stock with a $10.00 price target.
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 Thursday at C$9.80.
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