Tricon Residential Inc. (TCN) concluded trading on 11/23/22 at a closing price of $8.76, with 0.47 million shares of worth about $4.08 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -26.69% during that period and on Wednesday the price saw a loss of about -1.02%. Currently the company’s common shares owned by public are about 274.71M shares, out of which, 265.99M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the TCN stock and their offered price forecasts bring an average price target of $12.03. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $13.35 and could fall to a lowest price of $10.50. The stock’s current price level is 29.3% above of average price target set by the analysts, while a rise to estimated low would result in gain of 16.57% for the stock. However, touching the estimated high of $13.35 would mean a gain of 34.38% for the stock.
Cohen & Steers Real Estate Securi, CI High Income Fund, and Janus Henderson Horizon Fund – Gl are the top 3 mutual funds which are holding stakes in Tricon Residential Inc. Cohen & Steers Real Estate Securi is currently holding 9.39 million shares of worth totaling $79.13 million. The company recently came buying 1.61 million shares which brought its stake up to 3.43% of the company’s outstanding shares. Janus Henderson Horizon Fund – Gl, after selling 3.4 million shares, have now control over 1.24% of the stake in the company. It holds 8452.0 shares of worth $28.62 million.
Tricon Residential Inc. (NYSE: TCN) started trading at $8.81, below -$0.04 from concluding price of the previous day. However, the stock later moved at a day high price of 8.89, or with a loss of -1.02%. Stock saw a price change of -1.68% in past 5 days and over the past one month there was a price change of -2.67%. Year-to-date (YTD), TCN shares are showing a performance of -42.67% which decreased to -37.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.83 but also hit the highest price of $17.23 during that period. The average intraday trading volume for Tricon Residential Inc. shares is 906.54K. The stock is currently trading 1.34% above its 20-day simple moving average (SMA20), while that difference is down -0.78% for SMA50 and it goes to -25.88% lower than SMA200.
Tricon Residential Inc. (NYSE: TCN) currently have 274.71M outstanding shares and institutions hold larger chunk of about 71.12% of that. Holding of mutual funds in the company is about — while other institutional holders and individual stake holders have control over — and — of the stake respectively.
The stock has a current market capitalization of $3.20B and its 3Y-monthly beta is at 1.33. PE ratio of stock for trailing 12 months is 2.23, while it has posted earnings per share of $3.93 in the same period. It has Quick Ratio of 0.60 while making debt-to-equity ratio of 1.58. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TCN, volatility over the week remained 2.15% while standing at 3.40% over the month.
Analysts are in expectations that Tricon Residential Inc. (TCN) stock would likely to be making an EPS of $0.14 in the current quarter, while forecast for next quarter EPS is $0.15 and it is $0.59 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.12 which is $0.17 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to rise by 312.70% while it is estimated to decrease by -80.72% in next year.
Analysts at 11 brokerage firms have issued recommendations for the Tricon Residential Inc. (TCN)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 11 Wall Street analysts, 10 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on September 19, 2022 offering a Buy rating for the stock and assigned a target price of $12.50 to it. Coverage by Morgan Stanley stated Tricon Residential Inc. (TCN) stock as an Equal-weight in their note to investors on August 25, 2022, suggesting a price target of $12.75 for the stock. On August 02, 2022, Raymond James Upgrade their recommendations, while on May 12, 2022, TD Securities Upgrade their ratings for the stock with a price target of $17. Stock get a Hold rating from TD Securities on March 31, 2022.