True North Commercial REIT (TSE:TNT.UN) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

True North Commercial REIT (TSE:TNT.UN)’s stock price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of C$8.54 and traded as low as C$8.08. True North Commercial REIT shares last traded at C$8.12, with a volume of 14,427 shares changing hands.

True North Commercial REIT Stock Down 1.5%

The company has a market capitalization of C$112.54 million, a price-to-earnings ratio of -4.74 and a beta of 0.89. The company has a quick ratio of 0.06, a current ratio of 0.14 and a debt-to-equity ratio of 175.73. The firm has a 50 day moving average price of C$8.53 and a two-hundred day moving average price of C$8.41.

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

True North Commercial REIT Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were given a $0.0575 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date of this dividend was Friday, July 31st. 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.