True North Commercial REIT (TSE:TNT.UN) Announces Quarterly Earnings Results

True North Commercial REIT (TSE:TNT.UN) issued its quarterly earnings data on Tuesday. The company reported C$0.16 earnings per share (EPS) for the quarter, FiscalAI reports. True North Commercial REIT had a negative net margin of 38.96% and a negative return on equity of 10.66%. The firm had revenue of C$29.65 million for the quarter.

True North Commercial REIT Trading Down 2.0%

TSE:TNT.UN traded down C$0.16 on Thursday, reaching C$7.71. 11,433 shares of the company’s stock were exchanged, compared to its average volume of 17,608. The firm has a market capitalization of C$108.46 million, a price-to-earnings ratio of -4.57 and a beta of 0.35. True North Commercial REIT has a 52-week low of C$7.22 and a 52-week high of C$9.22. The company has a quick ratio of 0.06, a current ratio of 0.14 and a debt-to-equity ratio of 175.73. The business has a fifty day moving average of C$7.79 and a 200-day moving average of C$8.31.

True North Commercial REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.0575 per share. The ex-dividend date is Friday, October 30th. This represents a $0.69 dividend on an annualized basis and a yield of 8.9%. True North Commercial REIT’s dividend payout ratio is -40.92%.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group cut shares of True North Commercial REIT from a “buy” rating to a “hold” rating and set a C$7.50 price target for the company. in a research report on Monday, October 26th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$8.50.

True North Commercial REIT Company Profile

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.