True North Commercial REIT (TSE:TNT.UN) Shares Cross Below Fifty Day Moving Average – Here’s Why

True North Commercial REIT (TSE:TNT.UN) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$10.00 and traded as low as C$8.76. True North Commercial REIT shares last traded at C$8.81, with a volume of 16,378 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, CIBC lifted their price objective on shares of True North Commercial REIT from C$9.50 to C$11.25 in a research report on Monday, November 18th.

True North Commercial REIT Trading Down 0.7 %

The firm has a market cap of C$127.39 million, a P/E ratio of -2.72 and a beta of 1.57. The company has a quick ratio of 0.06, a current ratio of 0.14 and a debt-to-equity ratio of 175.73. The firm’s 50-day simple moving average is C$10.00 and its 200 day simple moving average is C$10.86.

About True North Commercial REIT

True North Commercial REIT is a Canadian-based open-ended Real estate investment trust company. It owns and acquires Canadian commercial real estate properties. Its objective is to maximize total returns to unitholders. Returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties.