Tricon Residential (TSE:TCN) PT Raised to C$16.00 at Royal Bank of Canada

Tricon Residential (TSE:TCN) had its price target boosted by analysts at Royal Bank of Canada from C$15.00 to C$16.00 in a research note issued on Wednesday, Analyst Price Targets reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 20.66% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on TCN. National Bank Financial upped their price target on Tricon Residential to C$14.50 and gave the stock an “outperform” rating in a report on Monday, May 17th. Scotiabank boosted their price objective on Tricon Residential from C$15.00 to C$15.25 in a research note on Monday, May 17th. BMO Capital Markets boosted their price objective on Tricon Residential from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Friday, March 5th. CIBC boosted their price objective on Tricon Residential from C$14.50 to C$15.50 and gave the stock an “outperform” rating in a research note on Friday, May 14th. Finally, National Bankshares boosted their price objective on Tricon Residential from C$14.00 to C$14.50 and gave the stock an “outperform” rating in a research note on Monday, May 17th. Six equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of C$15.32.

TSE TCN opened at C$13.26 on Wednesday. The firm has a market cap of C$2.78 billion and a PE ratio of 16.70. Tricon Residential has a twelve month low of C$8.42 and a twelve month high of C$13.73. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 219.79. The business has a 50-day simple moving average of C$13.10.

Tricon Residential (TSE:TCN) last released its quarterly earnings results on Wednesday, May 12th. The company reported C$0.27 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.15 by C$0.12. The business had revenue of C$124.71 million during the quarter. As a group, equities analysts anticipate that Tricon Residential will post 1.0427502 EPS for the current fiscal year.

In other news, Director Geoffrey Matus sold 135,508 shares of the company’s stock in a transaction that occurred on Monday, May 31st. The stock was sold at an average price of C$13.00, for a total value of C$1,761,604.00. Following the completion of the sale, the director now directly owns 190,275 shares in the company, valued at C$2,473,575. Insiders sold 197,233 shares of company stock valued at $2,564,029 over the last 90 days.

About Tricon Residential

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.

Further Reading: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Tricon Residential (TSE:TCN)

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