Timbercreek Financial (TSE:TF) Sets New 1-Year Low on Analyst Downgrade

Shares of Timbercreek Financial Corp. (TSE:TF) hit a new 52-week low during mid-day trading on Thursday after TD lowered their price target on the stock from C$7.00 to C$6.50. TD currently has a hold rating on the stock. Timbercreek Financial traded as low as C$6.07 and last traded at C$6.08, with a volume of 221440 shares changing hands. The stock had previously closed at C$6.23.

TF has been the subject of several other reports. Canaccord Genuity Group reduced their price objective on Timbercreek Financial from C$6.75 to C$6.25 and set a “hold” rating for the company in a research report on Thursday. Raymond James Financial dropped their target price on Timbercreek Financial from C$7.50 to C$7.25 and set an “outperform” rating on the stock in a research report on Thursday. Finally, National Bank Financial cut their target price on Timbercreek Financial from C$7.00 to C$6.50 and set a “sector perform” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Timbercreek Financial currently has an average rating of “Hold” and a consensus target price of C$6.62.

Timbercreek Financial Price Performance

The company has a market cap of C$500.66 million, a P/E ratio of 16.35 and a beta of 0.82. The company has a fifty day moving average price of C$6.48 and a two-hundred day moving average price of C$6.72. The company has a debt-to-equity ratio of 232.22, a quick ratio of 145.00 and a current ratio of 4.01.

Timbercreek Financial (TSE:TF) last released its earnings results on Wednesday, July 29th. The company reported C$0.18 earnings per share (EPS) for the quarter. Timbercreek Financial had a return on equity of 3.85% and a net margin of 17.14%.The business had revenue of C$34.86 million for the quarter. On average, sell-side analysts anticipate that Timbercreek Financial Corp. will post 0.7300725 earnings per share for the current fiscal year.

Timbercreek Financial Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were paid a dividend of $0.0575 per share. The ex-dividend date was Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 11.4%. Timbercreek Financial’s dividend payout ratio is currently 186.49%.

About Timbercreek Financial

Timbercreek Financial Corp is a Canada-based non-banking commercial real estate lender. The company provides shorter-duration, customized financing solutions to professional real estate investors. It invests directly in a diversified portfolio of structured mortgage loans primarily secured by stabilized, income-producing commercial real estates, such as multi-residential, office and retail buildings located in urban markets across Canada. The company’s strategy is to preserve investor capital by lending mainly against income producing real estate, mitigate concentration risk by diversifying geographically by asset type and borrower and ensure loan to value ratios.