Aew Capital Management L P Makes New Investment in Tricon Residential Inc. (NYSE:TCN)

Aew Capital Management L P bought a new stake in Tricon Residential Inc. (NYSE:TCN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 664,030 shares of the company’s stock, valued at approximately $6,043,000.

Other large investors have also modified their holdings of the company. NewEdge Wealth LLC boosted its holdings in shares of Tricon Residential by 12.5% in the 4th quarter. NewEdge Wealth LLC now owns 22,514 shares of the company’s stock valued at $205,000 after buying an additional 2,500 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Tricon Residential in the 3rd quarter valued at $192,000. Bailard Inc. boosted its holdings in shares of Tricon Residential by 166.7% in the 4th quarter. Bailard Inc. now owns 28,800 shares of the company’s stock valued at $262,000 after buying an additional 18,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Tricon Residential by 11.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 32,548 shares of the company’s stock valued at $241,000 after buying an additional 3,284 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Tricon Residential in the 3rd quarter valued at $502,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TCN. BMO Capital Markets cut shares of Tricon Residential from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. CIBC cut shares of Tricon Residential from an “outperform” rating to a “tender” rating and increased their price target for the stock from $10.00 to $11.25 in a research note on Monday, January 22nd. Raymond James reiterated a “market perform” rating on shares of Tricon Residential in a research note on Monday, January 22nd. Wolfe Research cut shares of Tricon Residential from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 1st. Finally, TD Securities cut shares of Tricon Residential from a “buy” rating to a “tender” rating and increased their price target for the stock from $10.50 to $11.25 in a research note on Monday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.47.

Tricon Residential Stock Performance

Tricon Residential stock traded up $0.01 during trading hours on Friday, reaching $11.24. 23,703,220 shares of the stock were exchanged, compared to its average volume of 7,649,274. The stock has a market cap of $3.33 billion, a P/E ratio of 38.74 and a beta of 1.43. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.49 and a current ratio of 0.49. Tricon Residential Inc. has a 52-week low of $6.53 and a 52-week high of $11.24. The firm’s 50 day moving average is $11.12 and its 200 day moving average is $9.52.

Tricon Residential (NYSE:TCN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). The firm had revenue of $226.41 million for the quarter, compared to analysts’ expectations of $130.17 million. Tricon Residential had a return on equity of 3.12% and a net margin of 19.97%. Analysts predict that Tricon Residential Inc. will post 0.61 EPS for the current fiscal year.

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.