Public Sector Pension Investment Board Boosts Stock Holdings in Tricon Residential Inc. (NYSE:TCN)

Public Sector Pension Investment Board grew its stake in shares of Tricon Residential Inc. (NYSE:TCNGet Rating) by 2.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 675,224 shares of the company’s stock after buying an additional 19,072 shares during the quarter. Public Sector Pension Investment Board’s holdings in Tricon Residential were worth $6,831,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. TD Asset Management Inc. raised its holdings in shares of Tricon Residential by 1.7% in the 2nd quarter. TD Asset Management Inc. now owns 883,977 shares of the company’s stock worth $8,947,000 after purchasing an additional 14,628 shares during the period. Grayhawk Investment Strategies Inc. acquired a new position in Tricon Residential during the second quarter valued at approximately $48,000. Baskin Financial Services Inc. grew its stake in Tricon Residential by 3.4% during the second quarter. Baskin Financial Services Inc. now owns 317,158 shares of the company’s stock worth $3,213,000 after buying an additional 10,465 shares during the period. NewGen Asset Management Ltd acquired a new stake in shares of Tricon Residential in the second quarter worth $8,112,000. Finally, American Century Companies Inc. increased its position in shares of Tricon Residential by 5.3% in the first quarter. American Century Companies Inc. now owns 6,384,314 shares of the company’s stock worth $101,471,000 after acquiring an additional 322,054 shares in the last quarter. 52.89% of the stock is owned by hedge funds and other institutional investors.

Tricon Residential Price Performance

TCN stock opened at $8.76 on Thursday. The stock’s 50 day moving average is $8.79 and its two-hundred day moving average is $10.26. Tricon Residential Inc. has a 52-week low of $7.83 and a 52-week high of $17.23. The company has a market capitalization of $2.40 billion and a PE ratio of 3.68. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.38.

Tricon Residential Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Saturday, December 31st will be issued a $0.058 dividend. The ex-dividend date is Thursday, December 29th. This represents a $0.23 annualized dividend and a yield of 2.65%. Tricon Residential’s dividend payout ratio is presently 9.66%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of Tricon Residential from $16.50 to $15.50 and set a “buy” rating for the company in a research report on Thursday, October 13th. TD Securities lowered their target price on Tricon Residential from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, November 11th. Royal Bank of Canada reduced their price target on Tricon Residential from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, November 14th. The Goldman Sachs Group lowered their price objective on shares of Tricon Residential from $14.75 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, October 18th. Finally, Citigroup raised shares of Tricon Residential from a “neutral” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Monday, September 19th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $13.64.

About Tricon Residential

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding TCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tricon Residential Inc. (NYSE:TCNGet Rating).

Institutional Ownership by Quarter for Tricon Residential (NYSE:TCN)

Receive News & Ratings for Tricon Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tricon Residential and related companies with MarketBeat.com's FREE daily email newsletter.