True North Commercial REIT (TSE:TNT.UN) Stock Price Passes Above 50 Day Moving Average – Here’s Why

True North Commercial REIT (TSE:TNT.UN) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$8.29 and traded as high as C$8.39. True North Commercial REIT shares last traded at C$8.39, with a volume of 9,206 shares trading hands.

True North Commercial REIT Stock Performance

The firm has a market capitalization of C$118.02 million, a price-to-earnings ratio of -3.62 and a beta of 0.94. The company has a debt-to-equity ratio of 175.73, a current ratio of 0.14 and a quick ratio of 0.06. The firm has a 50 day moving average price of C$8.29 and a 200-day moving average price of C$8.57.

True North Commercial REIT (TSE:TNT.UN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.03 earnings per share for the quarter. True North Commercial REIT had a negative return on equity of 10.66% and a negative net margin of 38.96%.The company had revenue of C$29.83 million for the quarter.

True North Commercial REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be given a dividend of $0.0575 per share. The ex-dividend date is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. True North Commercial REIT’s payout ratio is -29.75%.

About True North Commercial REIT

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. It has properties in Alberta, British Columbia, New Brunswick, Nova Scotia, and Ontario.