Tricon Residential Inc [NYSE: TCN] loss -0.09% or -0.01 points to close at $11.02 with a heavy trading volume of 9821905 shares. The company report on January 19, 2024 at 8:46 AM that Blackstone Real Estate to Take Tricon Residential Private.
Blackstone Remains Committed to Tricon’s Extensive Housing Development Platform, Including its Pipeline of $1 Billion of New Single-Family Homes in the U.S. and $2.5 Billion of New Apartments in Canada.
Plans to Improve Quality of Existing U.S. Single-Family Homes through an Additional $1 Billion of Capital Projects.
The daily chart for TCN points out that the company has recorded 23.82% gains over the past six months.
If we look at the average trading volume of 4.92M shares, TCN reached to a volume of 9821905 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $10.68 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 3.00. 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.
Wolfe Research have made an estimate for Tricon Residential Inc shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on February 01, 2024.
The Average True Range (ATR) for Tricon Residential Inc is set at 0.21, with the Price to Sales ratio for TCN stock in the period of the last 12 months amounting to 4.36. The Price to Book ratio for the last quarter was 0.77, with the Price to Cash per share for the same quarter was set at 0.63.
Trading performance analysis for TCN stock
Tricon Residential Inc [TCN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by 0.00. With this latest performance, TCN shares gained by 25.09% in over the last four-week period, additionally plugging by 23.82% over the last 6 months – not to mention a rise of 26.09% 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 76.18, with the RSI for the last a single of trading hit 79.12, and the three-weeks RSI is set at 73.65 for Tricon Residential Inc [TCN]. The present Moving Average for the last 50 days of trading for this stock 9.13, while it was recorded at 11.03 for the last single week of trading, and 8.37 for the last 200 days.
Tricon Residential Inc [TCN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Tricon Residential Inc posted 0.11/share EPS, while the average EPS was predicted by analysts to be reported at 0.19/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -42.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TCN.
An analysis of Institutional ownership at Tricon Residential Inc [TCN]
The top three institutional holders of TCN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TCN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TCN stock with ownership which is approximately 5.8325%.
