True North Commercial REIT (TSE:TNT.UN) Sets New 1-Year Low – Here’s What Happened

True North Commercial REIT (TSE:TNT.UN) shares reached a new 52-week low on Wednesday. The stock traded as low as C$7.50 and last traded at C$7.52, with a volume of 9661 shares. The stock had previously closed at C$7.55.

True North Commercial REIT Price Performance

The company has a debt-to-equity ratio of 175.73, a current ratio of 0.14 and a quick ratio of 0.06. The stock has a market capitalization of C$105.78 million, a price-to-earnings ratio of -4.46 and a beta of 0.83. The business’s fifty day moving average price is C$8.37 and its 200-day moving average price is C$8.39.

True North Commercial REIT (TSE:TNT.UN) last released its quarterly earnings results on Thursday, August 13th. The company reported C($0.23) earnings per share (EPS) for the quarter. True North Commercial REIT had a negative net margin of 38.96% and a negative return on equity of 10.66%. The company had revenue of C$27.85 million for the quarter.

True North Commercial REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were issued a dividend of $0.0575 per share. This represents a $0.69 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date of this dividend was Friday, July 31st. True North Commercial REIT’s payout ratio is currently -40.92%.

About True North Commercial REIT

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 37 properties consisting of approximately 4.4 million square feet in urban and select strategic secondary markets across Canada. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist.