National Bank Financial Reiterates Outperform Rating for Tricon Residential (TSE:TCN)

Tricon Residential (TSE:TCN)‘s stock had its “outperform” rating reissued by National Bank Financial in a research note issued on Wednesday, Stock Target Advisor reports. They presently have a C$14.50 price target on the stock. National Bank Financial’s price target would indicate a potential upside of 9.35% from the company’s previous close. National Bank Financial also issued estimates for Tricon Residential’s FY2021 earnings at $0.51 EPS.

TCN has been the subject of a number of other research reports. BMO Capital Markets boosted their price objective on shares of Tricon Residential from C$15.00 to C$15.50 and gave the company an “outperform” rating in a report on Wednesday. CIBC boosted their price objective on shares of Tricon Residential from C$15.50 to C$16.00 and gave the company an “outperform” rating in a report on Wednesday. TD Securities lifted their price target on shares of Tricon Residential from C$14.50 to C$15.50 and gave the company a “buy” rating in a research note on Tuesday. Scotiabank lifted their price target on shares of Tricon Residential from C$15.00 to C$15.25 in a research note on Monday, May 17th. Finally, Royal Bank of Canada lifted their price target on shares of Tricon Residential from C$15.00 to C$16.00 and gave the company an “outperform” rating in a research note on Wednesday. Six analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of C$15.32.

Shares of TSE TCN opened at C$13.26 on Wednesday. The firm has a market capitalization of C$2.78 billion and a PE ratio of 16.70. The firm’s 50 day moving average price is C$13.10. The company has a debt-to-equity ratio of 219.79, a quick ratio of 1.21 and a current ratio of 1.28. Tricon Residential has a 52-week low of C$8.42 and a 52-week high of C$13.73.

Tricon Residential (TSE:TCN) last issued its quarterly earnings data on Wednesday, May 12th. The company reported C$0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.15 by C$0.12. The firm had revenue of C$124.71 million for the quarter. On average, analysts forecast that Tricon Residential will post 1.0427502 EPS for the current year.

In other news, Director Geoffrey Matus sold 4,911 shares of the business’s stock in a transaction on Thursday, May 27th. The shares were sold at an average price of C$13.00, for a total value of C$63,843.00. Following the sale, the director now owns 325,783 shares of the company’s stock, valued at C$4,235,179. In the last three months, insiders sold 197,233 shares of company stock worth $2,564,029.

Tricon Residential Company Profile

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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