True North Commercial REIT (TSE:TNT.UN) Shares Break Above 50 Day Moving Average – Here’s What Happened

True North Commercial REIT (TSE:TNT.UN) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$7.79 and traded as high as C$7.94. True North Commercial REIT shares last traded at C$7.87, with a volume of 44,597 shares changing hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group cut True North Commercial REIT from a “buy” rating to a “hold” rating and set a C$7.50 target price for the company. in a report on Monday, October 26th. One investment analyst has rated the stock with a Hold rating. According to MarketBeat.com, True North Commercial REIT currently has a consensus rating of “Hold” and an average price target of C$8.50.

True North Commercial REIT Trading Up 7.1%

The company has a debt-to-equity ratio of 175.73, a quick ratio of 0.06 and a current ratio of 0.14. The company’s fifty day simple moving average is C$7.79 and its 200-day simple moving average is C$8.31. The company has a market capitalization of C$110.71 million, a P/E ratio of -4.67 and a beta of 0.35.

True North Commercial REIT (TSE:TNT.UN) last posted its earnings results on Thursday, August 13th. The company reported C($0.23) EPS for the quarter. True North Commercial REIT had a negative net margin of 38.96% and a negative return on equity of 10.66%. The business had revenue of C$27.85 million for the quarter.

True North Commercial REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be given a $0.0575 dividend. This represents a $0.69 annualized dividend and a dividend yield of 8.8%. The ex-dividend date of this dividend is Friday, October 30th. True North Commercial REIT’s dividend payout ratio is presently -40.92%.

About True North Commercial REIT

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 37 properties consisting of approximately 4.4 million square feet in urban and select strategic secondary markets across Canada. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist.