Tricon Residential (TSE:TCN) Stock Crosses Above Two Hundred Day Moving Average of $13.04

Tricon Residential Inc. (TSE:TCN) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.04 and traded as high as C$15.49. Tricon Residential shares last traded at C$15.46, with a volume of 3,107,787 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on TCN shares. BMO Capital Markets lowered Tricon Residential from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from C$12.50 to C$15.15 in a report on Monday, January 22nd. National Bankshares cut Tricon Residential from a “sector perform” rating to a “tender” rating and lifted their price target for the stock from C$11.00 to C$15.17 in a report on Monday, February 5th.

Tricon Residential Stock Up 0.3 %

The stock has a 50 day moving average price of C$15.14 and a 200 day moving average price of C$13.04. The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 157.17. The company has a market capitalization of C$4.22 billion, a P/E ratio of 27.61 and a beta of 1.47.

Tricon Residential (TSE:TCN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported C($0.18) EPS for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.38). The firm had revenue of C$308.26 million for the quarter, compared to analyst estimates of C$171.82 million. Tricon Residential had a net margin of 12.91% and a return on equity of 3.18%. On average, research analysts anticipate that Tricon Residential Inc. will post 1.0576132 earnings per share for the current fiscal year.

Insider Buying and Selling at Tricon Residential

In other news, Director Ira Gluskin sold 65,841 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$15.05, for a total transaction of C$990,979.48. Over the last quarter, insiders sold 365,841 shares of company stock valued at $5,530,979. Company insiders own 3.12% of the company’s stock.

Tricon Residential Company Profile

Tricon Residential Inc (NYSE: TCN, TSX: TCN) is an owner, operator and developer of a growing portfolio of approximately 38,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Toronto, Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.