True North Commercial REIT (TSE:TNT.UN) Stock Price Passes Above Fifty Day Moving Average of $8.90

True North Commercial REIT (TSE:TNT.UN) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$8.90 and traded as high as C$9.18. True North Commercial REIT shares last traded at C$9.03, with a volume of 34,745 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TNT.UN. National Bankshares upped their price target on shares of True North Commercial REIT from C$8.65 to C$8.75 and gave the company a “sector perform” rating in a research note on Monday, January 29th. Raymond James dropped their target price on True North Commercial REIT from C$11.25 to C$10.00 and set a “market perform” rating on the stock in a research report on Thursday, March 21st. Canaccord Genuity Group lifted their price target on True North Commercial REIT from C$7.25 to C$9.00 and gave the company a “hold” rating in a research report on Wednesday, December 20th. Finally, CIBC boosted their price objective on shares of True North Commercial REIT from C$8.05 to C$9.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st.

True North Commercial REIT Trading Down 1.5 %

The company has a quick ratio of 0.06, a current ratio of 0.41 and a debt-to-equity ratio of 182.25. The firm has a market capitalization of C$137.44 million, a P/E ratio of -3.49 and a beta of 1.50. The firm’s 50-day simple moving average is C$8.90 and its 200-day simple moving average is C$6.70.

About True North Commercial REIT

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 46 commercial properties consisting of approximately 3.7 million square feet in urban and select strategic secondary markets across Canada focusing on long term leases with government and credit-rated tenants.