10,900 Shares in Tricon Residential Inc. (NYSE:TCN) Bought by Naviter Wealth LLC

Naviter Wealth LLC acquired a new stake in Tricon Residential Inc. (NYSE:TCN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,900 shares of the company’s stock, valued at approximately $100,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TCN. Wellington Management Group LLP boosted its holdings in shares of Tricon Residential by 128.4% in the third quarter. Wellington Management Group LLP now owns 4,046,558 shares of the company’s stock valued at $29,946,000 after acquiring an additional 2,274,603 shares in the last quarter. Intact Investment Management Inc. increased its position in Tricon Residential by 42.6% during the 4th quarter. Intact Investment Management Inc. now owns 1,287,307 shares of the company’s stock worth $11,717,000 after purchasing an additional 384,500 shares during the period. Caldwell Investment Management Ltd. increased its position in Tricon Residential by 746.8% during the 4th quarter. Caldwell Investment Management Ltd. now owns 810,740 shares of the company’s stock worth $7,393,000 after purchasing an additional 715,000 shares during the period. Aew Capital Management L P purchased a new position in shares of Tricon Residential during the 4th quarter worth approximately $6,043,000. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Tricon Residential in the 3rd quarter valued at approximately $1,021,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup reaffirmed a “neutral” rating and set a $11.25 price objective (up previously from $10.50) on shares of Tricon Residential in a report on Monday, January 22nd. CIBC cut shares of Tricon Residential from an “outperform” rating to a “tender” rating and raised their price objective for the company from $10.00 to $11.25 in a research note on Monday, January 22nd. TD Securities lowered shares of Tricon Residential from a “buy” rating to a “tender” rating and upped their target price for the stock from $10.50 to $11.25 in a research report on Monday, January 22nd. BMO Capital Markets downgraded shares of Tricon Residential from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Finally, Wolfe Research lowered Tricon Residential from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Tricon Residential currently has an average rating of “Hold” and an average target price of $10.47.

Tricon Residential Stock Up 0.1 %

TCN stock opened at $11.24 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.49 and a quick ratio of 0.49. Tricon Residential Inc. has a 12 month low of $6.53 and a 12 month high of $11.25. The firm has a market capitalization of $3.34 billion, a PE ratio of 38.76 and a beta of 1.43. The company’s 50 day simple moving average is $11.13 and its 200-day simple moving average is $9.61.

Tricon Residential (NYSE:TCN) last announced its earnings results on Tuesday, February 27th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). Tricon Residential had a net margin of 19.97% and a return on equity of 3.12%. The company had revenue of $226.41 million for the quarter, compared to analyst estimates of $130.17 million. Equities analysts expect that Tricon Residential Inc. will post 0.61 earnings per share for the current fiscal year.

Tricon Residential Profile

Tricon Residential Inc (NYSE: TCN, TSX: TCN) is an owner, operator and developer of a growing portfolio of approximately 38,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Toronto, Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.