Tricon Residential (NYSE:TCN) Updates FY 2022 Earnings Guidance

Posted by on Jun 1st, 2022

Tricon Residential (NYSE:TCN – Get Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.60-$0.64 for the period. The company issued revenue guidance of -.

TCN opened at $12.38 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.52 and a quick ratio of 0.52. The business has a fifty day simple moving average of $14.30 and a 200-day simple moving average of $14.66. Tricon Residential has a fifty-two week low of $8.49 and a fifty-two week high of $17.23.

Tricon Residential (NYSE:TCN – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.44. The company had revenue of $138.79 million for the quarter, compared to the consensus estimate of $138.60 million. As a group, equities analysts expect that Tricon Residential will post 0.62 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.23 annualized dividend and a dividend yield of 1.87%.

Several analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Tricon Residential from C$22.50 to C$23.00 in a report on Thursday, April 14th. Zacks Investment Research upgraded Tricon Residential from a hold rating to a buy rating and set a $17.00 price objective for the company in a report on Tuesday, March 8th. Morgan Stanley reduced their price target on Tricon Residential from $15.75 to $13.50 and set an equal weight rating for the company in a research report on Friday, May 27th. Royal Bank of Canada lowered their price objective on Tricon Residential from $18.00 to $17.00 and set an outperform rating on the stock in a report on Thursday, May 12th. Finally, Raymond James cut their price objective on Tricon Residential from C$18.50 to C$17.00 and set an outperform rating on the stock in a research note on Wednesday, May 18th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $17.88.

Institutional investors and hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Tricon Residential during the 1st quarter worth $39,000. Advisors Asset Management Inc. acquired a new stake in shares of Tricon Residential during the first quarter worth about $42,000. Power Corp of Canada acquired a new stake in shares of Tricon Residential during the first quarter worth about $59,000. Marshall Wace LLP acquired a new stake in shares of Tricon Residential during the fourth quarter worth about $175,000. Finally, Virtu Financial LLC acquired a new stake in shares of Tricon Residential during the fourth quarter worth about $229,000. Hedge funds and other institutional investors own 49.96% of the company’s stock.

Tricon Residential Company Profile (Get Rating)

Founded in 1988, Tricon is a rental housing company focused on serving the middle-market demographic. Tricon owns and operates approximately 31,000 single-family rental homes and multi-family rental units in 21 markets across the United States and Canada, managed with an integrated technology-enabled operating platform.

Further Reading

Earnings History and Estimates for Tricon Residential (NYSE:TCN)

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