Research Analysts Offer Predictions for Tricon Residential Inc.’s Q1 2024 Earnings (TSE:TCN)

Tricon Residential Inc. (TSE:TCN) – Analysts at Raymond James upped their Q1 2024 earnings per share (EPS) estimates for Tricon Residential in a research report issued on Thursday, November 16th. Raymond James analyst B. Sturges now forecasts that the company will earn $0.21 per share for the quarter, up from their previous estimate of $0.20. The consensus estimate for Tricon Residential’s current full-year earnings is $0.72 per share. Raymond James also issued estimates for Tricon Residential’s Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.25 EPS and FY2025 earnings at $0.92 EPS.

TCN has been the topic of a number of other reports. National Bank Financial restated a “sector perform under weight” rating on shares of Tricon Residential in a report on Wednesday, October 25th. BMO Capital Markets cut their price objective on Tricon Residential from C$13.50 to C$12.50 and set an “outperform” rating on the stock in a report on Thursday, November 9th. Finally, Scotiabank cut their price objective on Tricon Residential from C$11.00 to C$10.25 and set a “sector perform” rating on the stock in a report on Wednesday, October 18th.

Tricon Residential Stock Performance

TSE TCN opened at C$10.80 on Monday. The business’s 50-day moving average price is C$10.04 and its 200 day moving average price is C$10.96. The company has a market capitalization of C$2.94 billion, a PE ratio of 13.33 and a beta of 1.37. The company has a current ratio of 0.25, a quick ratio of 0.32 and a debt-to-equity ratio of 153.40. Tricon Residential has a twelve month low of C$9.03 and a twelve month high of C$12.55.

Tricon Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Sunday, December 31st will be paid a $0.08 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.96%. This is a positive change from Tricon Residential’s previous quarterly dividend of $0.08. Tricon Residential’s dividend payout ratio (DPR) is 39.51%.

About Tricon Residential

Tricon Residential Inc (NYSE: TCN, TSX: TCN) is an owner and operator of a growing portfolio of approximately 37,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.