True North Commercial REIT (TSE:TNT.UN) Posts Earnings Results

True North Commercial REIT (TSE:TNT.UN) announced its earnings results on Tuesday. The company reported C$0.16 earnings per share (EPS) for the quarter, FiscalAI reports. True North Commercial REIT had a negative return on equity of 10.66% and a negative net margin of 38.96%. The firm had revenue of C$29.65 million during the quarter.

True North Commercial REIT Stock Down 2.0%

True North Commercial REIT stock traded down C$0.16 during mid-day trading on Thursday, reaching C$7.71. The stock had a trading volume of 11,433 shares, compared to its average volume of 17,606. The company has a market capitalization of C$108.46 million, a price-to-earnings ratio of -4.57 and a beta of 0.35. The company has a 50-day moving average price of C$7.79 and a two-hundred day moving average price of C$8.31. True North Commercial REIT has a one year low of C$7.22 and a one year high of C$9.22. 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, 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 8.9%. The ex-dividend date of this dividend is Friday, October 30th. True North Commercial REIT’s payout ratio is currently -40.92%.

Analyst Upgrades and Downgrades

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

True North Commercial REIT Company Profile

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.