Tricon Residential Inc. [NYSE: TCN] price surged by 0.50 percent to reach at $0.04. The company report on April 18, 2023 that Tricon Announces Date for First Quarter 2023 Results Conference Call.
Tricon Residential Inc. (“Tricon” or the “Company”) (NYSE: TCN; TSX: TCN), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, invites you to participate in its live conference call with senior management to discuss the Company’s financial results for the first quarter of 2023. The call will take place on Wednesday, May 10th at 11 a.m. ET.
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Tricon’s financial statements and management’s discussion and analysis for the first quarter of 2023 will be released prior to the call and will be made available on the Company’s website, on the Canadian Securities Administrators’ website at www.sedar.com and on the U.S. Securities and Exchange Commission website at www.sec.gov. The Company will also release supplementary information which will be available on the Tricon Residential Investor Relations website at www.triconresidential.com.
A sum of 4429482 shares traded at recent session while its average daily volume was at 1.11M shares. Tricon Residential Inc. shares reached a high of $8.085 and dropped to a low of $7.9311 until finishing in the latest session at $8.08.
The one-year TCN stock forecast points to a potential upside of 19.84. The average equity rating for TCN stock is currently 1.90, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Tricon Residential Inc. [TCN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TCN shares is $10.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TCN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Mizuho have made an estimate for Tricon Residential Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 22, 2023. The new note on the price target was released on March 14, 2023, representing the official price target for Tricon Residential Inc. stock. Previously, the target price had yet another raise to $12.20, while Keefe Bruyette analysts kept a Mkt Perform rating on TCN stock. On December 08, 2022, analysts decreased their price target for TCN shares from 11 to 9.50.
The Average True Range (ATR) for Tricon Residential Inc. is set at 0.23, with the Price to Sales ratio for TCN stock in the period of the last 12 months amounting to 2.76. The Price to Book ratio for the last quarter was 0.44, with the Price to Cash per share for the same quarter was set at 0.74. Price to Free Cash Flow for TCN in the course of the last twelve months was 11.31 with Quick ratio for the last quarter at 0.30.
TCN Stock Performance Analysis:
Tricon Residential Inc. [TCN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.75. With this latest performance, TCN shares gained by 7.59% in over the last four-week period, additionally sinking by -2.53% over the last 6 months – not to mention a drop of -47.05% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TCN stock in for the last two-week period is set at 57.28, with the RSI for the last a single of trading hit 63.16, and the three-weeks RSI is set at 53.41 for Tricon Residential Inc. [TCN]. The present Moving Average for the last 50 days of trading for this stock 8.09, while it was recorded at 8.00 for the last single week of trading, and 9.00 for the last 200 days.
Insight into Tricon Residential Inc. Fundamentals:
Tricon Residential Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.
Tricon Residential Inc. [TCN] Insider Position Details
There are presently around $1,193 million, or 68.88% of TCN stock, in the hands of institutional investors. The top three institutional holders of TCN stocks are: BANK OF MONTREAL /CAN/ with ownership of 18,010,603, which is approximately -44.515% of the company’s market cap and around 2.85% of the total institutional ownership; T. ROWE PRICE INVESTMENT MANAGEMENT, INC., holding 16,487,824 shares of the stock with an approximate value of $132.56 million in TCN stocks shares; and COHEN & STEERS, INC., currently with $113.14 million in TCN stock with ownership of nearly -0.578% of the company’s market capitalization.
Positions in Tricon Residential Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 77 institutional holders increased their position in Tricon Residential Inc. [NYSE:TCN] by around 26,194,490 shares. Additionally, 65 investors decreased positions by around 35,197,264 shares, while 12 investors held positions by with 86,967,582 shares. The mentioned changes placed institutional holdings at 148,359,336 shares, according to the latest SEC report filing. TCN stock had 22 new institutional investments in for a total of 4,371,539 shares, while 20 institutional investors sold positions of 2,772,535 shares during the same period.