Tricon Residential (TSE:TCN) Share Price Passes Below Two Hundred Day Moving Average of $18.25

Tricon Residential Inc. (TSE:TCNGet Rating) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$18.25 and traded as low as C$12.28. Tricon Residential shares last traded at C$12.47, with a volume of 239,961 shares changing hands.

A number of research analysts have weighed in on the stock. CIBC lifted their price objective on shares of Tricon Residential from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Friday, March 4th. TD Securities cut shares of Tricon Residential to a “hold” rating and set a C$18.00 price objective for the company. in a report on Thursday, March 31st. Raymond James assumed coverage on shares of Tricon Residential in a report on Monday, March 28th. They issued a “buy” rating and a C$18.50 price objective for the company. Finally, BMO Capital Markets lifted their price objective on shares of Tricon Residential from C$22.50 to C$23.00 in a report on Thursday, April 14th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Tricon Residential currently has an average rating of “Buy” and a consensus target price of C$18.44.

The business has a fifty day simple moving average of C$16.46 and a 200 day simple moving average of C$18.25. The firm has a market cap of C$3.41 billion and a price-to-earnings ratio of 3.69. The company has a debt-to-equity ratio of 145.34, a current ratio of 0.52 and a quick ratio of 0.42.

Tricon Residential (TSE:TCNGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported C$0.74 EPS for the quarter, beating analysts’ consensus estimates of C$0.19 by C$0.55. The firm had revenue of C$175.81 million for the quarter, compared to analyst estimates of C$174.64 million. On average, research analysts anticipate that Tricon Residential Inc. will post 0.6029723 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.41%. This is a boost from Tricon Residential’s previous quarterly dividend of $0.07. Tricon Residential’s dividend payout ratio is presently 6.73%.

Tricon Residential Company Profile (TSE:TCN)

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.

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