CIBC Increases Tricon Residential (TSE:TCN) Price Target to C$15.50

Tricon Residential (TSE:TCN) had its price target increased by CIBC from C$14.50 to C$15.50 in a research note issued to investors on Friday, Price Targets.com reports. They currently have an outperform rating on the stock.

TCN has been the subject of a number of other reports. BMO Capital Markets lifted their price target on Tricon Residential from C$14.00 to C$15.00 and gave the company an outperform rating in a report on Friday, March 5th. Royal Bank of Canada lifted their price target on Tricon Residential from C$14.00 to C$14.50 and gave the company an outperform rating in a report on Monday, March 8th. TD Securities reaffirmed a buy rating and issued a C$14.50 price target (up from C$13.50) on shares of Tricon Residential in a report on Friday, March 5th. Finally, Scotiabank lifted their price target on Tricon Residential from C$14.00 to C$15.00 in a report on Monday, March 8th. Seven equities research analysts have rated the stock with a buy rating, Tricon Residential presently has an average rating of Buy and an average price target of C$14.19.

Shares of TSE:TCN opened at C$13.20 on Friday. Tricon Residential has a 52 week low of C$7.58 and a 52 week high of C$13.73. The company has a debt-to-equity ratio of 219.36, a quick ratio of 1.21 and a current ratio of 1.28. The company’s fifty day moving average is C$13.06 and its 200-day moving average is C$12.12. The company has a market capitalization of C$2.55 billion and a PE ratio of 16.54.

Tricon Residential (TSE:TCN) last released its quarterly earnings results on Wednesday, March 3rd. The company reported C$0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.14 by C($0.03). The company had revenue of C$172.47 million during the quarter. On average, analysts forecast that Tricon Residential will post 1.04 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Thursday, April 15th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, March 30th. This represents a $0.28 annualized dividend and a yield of 2.12%. Tricon Residential’s dividend payout ratio is currently 26.04%.

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.

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Analyst Recommendations for Tricon Residential (TSE:TCN)

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