Timbercreek Financial (TSE:TF) Stock Price Passes Below 50 Day Moving Average – Here’s Why

Timbercreek Financial Corp. (TSE:TF)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$6.81 and traded as low as C$6.52. Timbercreek Financial shares last traded at C$6.56, with a volume of 148,422 shares traded.

Wall Street Analyst Weigh In

Separately, TD Securities dropped their price objective on shares of Timbercreek Financial from C$8.00 to C$7.00 and set a “hold” rating on the stock in a report on Monday, March 3rd.

Timbercreek Financial Stock Performance

The firm has a market cap of C$547.11 million, a P/E ratio of 9.31 and a beta of 1.23. The stock’s 50 day moving average is C$6.79 and its two-hundred day moving average is C$7.39. The company has a debt-to-equity ratio of 122.88, a current ratio of 1.53 and a quick ratio of 145.00.

Timbercreek Financial Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were paid a $0.0575 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.69 dividend on an annualized basis and a yield of 10.41%. Timbercreek Financial’s payout ratio is currently 96.90%.

About Timbercreek Financial

Timbercreek Financial Corp. provides shorter-duration structured financing solutions to commercial real estate investors in Canada. It focuses on lending against income-producing real estate properties, such as multi-residential, office, and retail buildings in urban markets. The company was founded in 2016 and is headquartered in Toronto, Canada.