Q2 2023 EPS Estimates for Tricon Residential Inc. (NYSE:TCN) Raised by Raymond James

Tricon Residential Inc. (NYSE:TCNGet Rating) – Stock analysts at Raymond James lifted their Q2 2023 earnings per share estimates for shares of Tricon Residential in a research note issued on Tuesday, May 23rd. Raymond James analyst B. Sturges now forecasts that the company will post earnings of $0.15 per share for the quarter, up from their previous estimate of $0.14. Raymond James has a “Strong-Buy” rating and a $11.00 price objective on the stock. The consensus estimate for Tricon Residential’s current full-year earnings is $0.51 per share. Raymond James also issued estimates for Tricon Residential’s Q2 2024 earnings at $0.17 EPS and Q3 2024 earnings at $0.18 EPS.

Several other research analysts also recently commented on TCN. Wolfe Research raised Tricon Residential from a “peer perform” rating to an “outperform” rating and set a $9.25 target price on the stock in a report on Monday, March 13th. Keefe, Bruyette & Woods dropped their price objective on Tricon Residential from $9.00 to $8.50 and set a “market perform” rating on the stock in a research note on Thursday, March 16th. Mizuho assumed coverage on Tricon Residential in a research note on Wednesday, March 22nd. They issued a “buy” rating and a $9.00 price objective on the stock. National Bank Financial dropped their price objective on Tricon Residential from C$15.00 to C$13.00 in a research note on Monday, January 30th. Finally, TD Securities dropped their price objective on Tricon Residential from $13.00 to $11.50 and set a “buy” rating on the stock in a research note on Friday, March 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tricon Residential currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.52.

Tricon Residential Stock Down 1.6 %

Shares of TCN opened at $7.76 on Thursday. The company has a market capitalization of $2.12 billion, a PE ratio of 5.11 and a beta of 1.14. Tricon Residential has a 12 month low of $7.18 and a 12 month high of $12.69. The stock’s 50-day moving average price is $7.88 and its two-hundred day moving average price is $8.16. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.25.

Tricon Residential (NYSE:TCNGet Rating) last announced its earnings results on Wednesday, March 1st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.17). The company had revenue of $180.89 million for the quarter. Tricon Residential had a return on equity of 18.10% and a net margin of 97.08%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Tricon Residential during the 1st quarter worth approximately $39,000. Grayhawk Investment Strategies Inc. increased its holdings in Tricon Residential by 5,671.9% during the 1st quarter. Grayhawk Investment Strategies Inc. now owns 3,694 shares of the company’s stock worth $39,000 after purchasing an additional 3,630 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in Tricon Residential during the 1st quarter worth approximately $42,000. Power Corp of Canada bought a new stake in Tricon Residential during the 1st quarter worth approximately $59,000. Finally, Tower Research Capital LLC TRC increased its holdings in Tricon Residential by 90.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,148 shares of the company’s stock worth $72,000 after purchasing an additional 3,865 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Tricon Residential Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Friday, June 30th will be paid a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Thursday, June 29th. Tricon Residential’s dividend payout ratio (DPR) is currently 15.13%.

Tricon Residential Company Profile

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Tricon Residential, Inc is a residential real estate investment company, which engages in renting homes and apartments. It operates through the following business segments: Single-Family Rental, Adjacent Businesses, Private Funds and Advisory and Corporate. The Single-Family Rental Business segment owns and operates single family rental homes.

Further Reading

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

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