Tricon Residential Inc. (TSE:TCN – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$12.59 and traded as high as C$15.25. Tricon Residential shares last traded at C$15.16, with a volume of 748,603 shares trading hands.
Analysts Set New Price Targets
Several research firms recently issued reports on TCN. National Bankshares downgraded Tricon Residential from a “sector perform” rating to a “tender” rating and boosted their price objective for the company from C$11.00 to C$15.17 in a report on Monday, February 5th. BMO Capital Markets downgraded Tricon Residential from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from C$12.50 to C$15.15 in a report on Monday, January 22nd.
Tricon Residential Price Performance
Tricon Residential (TSE:TCN – Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported C($0.18) earnings per share for the quarter, missing the consensus estimate of C$0.20 by C($0.38). Tricon Residential had a return on equity of 3.18% and a net margin of 12.91%. The company had revenue of C$308.26 million for the quarter, compared to analysts’ expectations of C$171.82 million. Sell-side analysts expect that Tricon Residential Inc. will post 1.0514403 EPS for the current fiscal year.
Insiders Place Their Bets
In other Tricon Residential news, Director Ira Gluskin sold 65,841 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$15.05, for a total transaction of C$990,979.48. Insiders have sold a total of 365,841 shares of company stock worth $5,530,979 in the last quarter. 3.38% of the stock is owned by company insiders.
About Tricon Residential
Tricon Residential Inc (NYSE: TCN, TSX: TCN) is an owner, operator and developer of a growing portfolio of approximately 38,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Toronto, Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.
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