True North Commercial REIT (TSE:TNT.UN) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

True North Commercial REIT (TSE:TNT.UN)’s share price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$7.79 and traded as high as C$7.94. True North Commercial REIT shares last traded at C$7.87, with a volume of 44,597 shares trading hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lowered True North Commercial REIT from a “buy” rating to a “hold” rating and set a C$7.50 price objective for the company. in a research note on Monday, October 26th. One analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$7.50.

True North Commercial REIT Stock Performance

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 firm has a 50 day moving average of C$7.76 and a 200-day moving average of C$8.30. The company has a market cap of C$108.32 million, a P/E ratio of -4.57 and a beta of 0.35.

True North Commercial REIT (TSE:TNT.UN) last released its quarterly earnings data on Tuesday, November 10th. The company reported C$0.16 earnings per share for the quarter. The firm had revenue of C$29.65 million during the quarter. True North Commercial REIT had a negative return on equity of 10.66% and a negative net margin of 38.96%.

True North Commercial REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be issued a $0.0575 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 9.0%. True North Commercial REIT’s dividend payout ratio (DPR) is currently -40.92%.

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.