Raymond James upgraded shares of Tricon Residential (NYSE:TCN – Get Rating) from an outperform rating to a strong-buy rating in a research note released on Tuesday morning, Marketbeat Ratings reports. They currently have $16.00 price target on the stock, down from their previous price target of $17.00.
Several other research firms have also recently weighed in on TCN. National Bank Financial cut their price objective on Tricon Residential from C$21.00 to C$17.00 in a research report on Wednesday, July 20th. BMO Capital Markets boosted their price objective on Tricon Residential from C$22.50 to C$23.00 in a research report on Thursday, April 14th. Royal Bank of Canada cut their price objective on Tricon Residential from $18.00 to $17.00 and set an outperform rating for the company in a research report on Thursday, May 12th. Morgan Stanley cut their price objective on Tricon Residential from $13.50 to $11.75 and set an equal weight rating for the company in a research report on Friday, July 15th. Finally, TD Securities raised Tricon Residential from a hold rating to a buy rating and cut their price objective for the stock from $18.00 to $17.00 in a research report on Thursday, May 12th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tricon Residential presently has a consensus rating of Buy and an average target price of $17.60.
Tricon Residential Trading Down 0.7 %
Shares of NYSE:TCN opened at $11.19 on Tuesday. Tricon Residential has a fifty-two week low of $9.33 and a fifty-two week high of $17.23. The business has a 50-day moving average of $10.68 and a two-hundred day moving average of $13.35. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.29.
Tricon Residential Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.23 annualized dividend and a dividend yield of 2.07%.
Institutional Investors Weigh In On Tricon Residential
Several large investors have recently modified their holdings of TCN. Shell Asset Management Co. bought a new stake in Tricon Residential during the 4th quarter worth approximately $411,000. Pembroke Management LTD bought a new stake in Tricon Residential during the 4th quarter worth approximately $27,961,000. O Shaughnessy Asset Management LLC bought a new stake in Tricon Residential during the 4th quarter worth approximately $835,000. Mirabella Financial Services LLP bought a new stake in Tricon Residential during the 4th quarter worth approximately $184,000. Finally, CIBC Asset Management Inc acquired a new position in Tricon Residential during the 4th quarter worth $11,957,000. 49.96% of the stock is currently owned by institutional investors.
Tricon Residential Company Profile
Founded in 1988, Tricon is a rental housing company focused on serving the middle-market demographic. Tricon owns and operates approximately 31,000 single-family rental homes and multi-family rental units in 21 markets across the United States and Canada, managed with an integrated technology-enabled operating platform.
- Get a free copy of the StockNews.com research report on Tricon Residential (TCN)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- Why Apple Could Be At All-Time Highs By Year End
Receive News & Ratings for Tricon Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tricon Residential and related companies with MarketBeat.com's FREE daily email newsletter.