Citigroup Upgrades Tricon Residential (TSE:TCN) to Buy

Citigroup upgraded shares of Tricon Residential (TSE:TCNGet Rating) to a buy rating in a research report report published on Monday morning, Stock Target Advisor reports. Citigroup currently has C$12.50 target price on the stock.

Several other equities analysts also recently commented on the company. Morgan Stanley lowered their price objective on Tricon Residential to C$12.75 and set a hold rating on the stock in a research report on Thursday, August 25th. CIBC boosted their price target on shares of Tricon Residential from C$20.50 to C$21.00 and gave the stock an outperform rating in a research report on Friday, August 12th. National Bankshares boosted their price target on shares of Tricon Residential from C$17.00 to C$18.00 and gave the stock an outperform rating in a research report on Monday, August 22nd. Finally, BMO Capital Markets cut their price objective on shares of Tricon Residential from C$23.00 to C$19.00 in a research report on Friday, August 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Tricon Residential has an average rating of Moderate Buy and a consensus target price of C$17.32.

Tricon Residential Stock Performance

Shares of TCN opened at C$12.72 on Monday. The business’s fifty day simple moving average is C$14.04 and its two-hundred day simple moving average is C$15.86. Tricon Residential has a 12 month low of C$12.20 and a 12 month high of C$21.58. The company has a market cap of C$3.47 billion and a price-to-earnings ratio of 3.43. The company has a current ratio of 0.39, a quick ratio of 0.30 and a debt-to-equity ratio of 148.86.

Tricon Residential Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.074 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.30 annualized dividend and a dividend yield of 2.33%. Tricon Residential’s dividend payout ratio (DPR) is currently 6.17%.

Tricon Residential Company Profile

(Get Rating)

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.

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Analyst Recommendations for Tricon Residential (TSE:TCN)

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