Tricon Residential (NYSE:TCN – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, March 2nd. Analysts expect Tricon Residential to post earnings of $0.28 per share for the quarter.
Tricon Residential Stock Performance
Shares of TCN stock opened at $8.48 on Thursday. The company has a 50 day moving average price of $8.28 and a 200-day moving average price of $9.00. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $2.32 billion, a PE ratio of 3.56 and a beta of 1.15. Tricon Residential has a 52 week low of $7.18 and a 52 week high of $17.23.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on TCN shares. Raymond James decreased their price target on shares of Tricon Residential from $15.00 to $13.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, November 16th. National Bank Financial lowered their price objective on shares of Tricon Residential from C$15.00 to C$13.00 in a research note on Monday, January 30th. Keefe, Bruyette & Woods lowered shares of Tricon Residential from an “outperform” rating to a “market perform” rating and set a $12.20 price objective for the company. in a research note on Thursday, December 15th. Morgan Stanley lowered their price objective on shares of Tricon Residential from $12.75 to $8.50 and set an “equal weight” rating for the company in a research note on Monday, December 12th. Finally, The Goldman Sachs Group lowered shares of Tricon Residential from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $11.00 to $9.50 in a research note on Thursday, December 8th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tricon Residential presently has a consensus rating of “Moderate Buy” and an average target price of $12.72.
Hedge Funds Weigh In On Tricon Residential
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Tricon Residential by 531.0% in the 1st quarter. Vanguard Group Inc. now owns 10,500,305 shares of the company’s stock valued at $166,746,000 after acquiring an additional 8,836,273 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Tricon Residential by 47.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 16,487,824 shares of the company’s stock valued at $127,122,000 after purchasing an additional 5,320,361 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Tricon Residential by 52.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,179,634 shares of the company’s stock valued at $103,221,000 after purchasing an additional 3,483,476 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Tricon Residential by 161.2% in the 4th quarter. Macquarie Group Ltd. now owns 5,416,453 shares of the company’s stock valued at $41,761,000 after purchasing an additional 3,342,608 shares in the last quarter. Finally, Norges Bank purchased a new position in Tricon Residential in the 4th quarter valued at $21,394,000. Institutional investors and hedge funds own 57.41% of the company’s stock.
About Tricon Residential
Tricon Residential, Inc is a residential real estate investment company. It owns and operates single family rental homes and multi-family rental apartments in the United States and Canada. It operates through the five reportable segments: Single Family Rental Business,Multi Family Rental Business, Residential Development Business, Private Funds and Advisory Business and Corporate Activities.