True North Commercial REIT (TSE:TNT.UN) Shares Pass Below Fifty Day Moving Average – Time to Sell?

True North Commercial REIT (TSE:TNT.UN)’s share price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$9.13 and traded as low as C$8.95. True North Commercial REIT shares last traded at C$9.01, with a volume of 11,576 shares changing hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group cut their target price on shares of True North Commercial REIT from C$12.00 to C$11.00 and set a “hold” rating on the stock in a research report on Thursday, March 20th.

True North Commercial REIT Price Performance

The stock has a market capitalization of C$130.28 million, a P/E ratio of -2.78 and a beta of 1.57. The company’s 50-day simple moving average is C$9.13 and its 200-day simple moving average is C$9.52. The company has a debt-to-equity ratio of 175.73, a current ratio of 0.14 and a quick ratio of 0.06.

True North Commercial REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be paid a $0.0575 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 7.66%. The ex-dividend date of this dividend is Friday, May 30th. True North Commercial REIT’s dividend payout ratio (DPR) is presently -52.78%.

True North Commercial REIT Company Profile

True North Commercial REIT is a Canadian-based open-ended Real estate investment trust company. It owns and acquires Canadian commercial real estate properties. Its objective is to maximize total returns to unitholders. Returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties.