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

Tricon Residential Inc. (TSE:TCNFree Report) – 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.

View Our Latest Analysis on TCN

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

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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.

See Also

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

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