True North Commercial REIT (TSE:TNT.UN) Stock Passes Below 200-Day Moving Average – Here’s What Happened

True North Commercial REIT (TSE:TNT.UN)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.77 and traded as low as C$9.98. True North Commercial REIT shares last traded at C$10.13, with a volume of 13,257 shares.

Analysts Set New Price Targets

A number of brokerages have commented on TNT.UN. Canaccord Genuity Group boosted their price objective on True North Commercial REIT from C$9.00 to C$12.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. CIBC boosted their price target on True North Commercial REIT from C$9.50 to C$11.25 in a research report on Monday, November 18th.

True North Commercial REIT Stock Performance

The company has a market cap of C$142.00 million, a P/E ratio of -3.03 and a beta of 1.57. The stock has a fifty day moving average price of C$11.08 and a two-hundred day moving average price of C$10.77. The company has a debt-to-equity ratio of 175.73, a current ratio of 0.14 and a quick ratio of 0.06.

True North Commercial REIT Company Profile

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.