Tricon Residential (TSE:TCN) Stock Price Passes Above 200-Day Moving Average of $11.98

Tricon Residential Inc. (TSE:TCN) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$11.98 and traded as high as C$13.37. Tricon Residential shares last traded at C$13.25, with a volume of 303,522 shares.

Several research analysts have weighed in on the stock. CIBC upped their target price on shares of Tricon Residential from C$13.50 to C$14.50 and gave the stock an “outperform” rating in a research report on Friday, March 5th. BMO Capital Markets upped their target price on shares of Tricon Residential from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Friday, March 5th. Royal Bank of Canada upped their target price on shares of Tricon Residential from C$14.00 to C$14.50 and gave the stock an “outperform” rating in a research report on Monday, March 8th. Scotiabank upped their target price on shares of Tricon Residential from C$14.00 to C$15.00 in a research report on Monday, March 8th. Finally, TD Securities reiterated a “buy” rating and issued a C$14.50 price target (up from C$13.50) on shares of Tricon Residential in a research report on Friday, March 5th. Six research analysts have rated the stock with a buy rating, Tricon Residential presently has an average rating of “Buy” and an average price target of C$13.82.

The firm’s 50-day moving average price is C$12.88 and its 200 day moving average price is C$11.98. The firm has a market capitalization of C$2.56 billion and a price-to-earnings ratio of 18.58. The company has a debt-to-equity ratio of 261.67, a current ratio of 0.22 and a quick ratio of 0.19.

Tricon Residential (TSE:TCN) last announced its quarterly earnings data on Wednesday, March 3rd. The company reported C$0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.14 by C($0.03). The company had revenue of C$172.47 million for the quarter. On average, analysts predict that Tricon Residential Inc. will post 1.04 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Thursday, April 15th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Tuesday, March 30th. Tricon Residential’s payout ratio is 29.14%.

About Tricon Residential (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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